Just wanted to know if anyone out there has been involved in any insourcing of an accounts department.

The company I work for is currently paying a third party to do our accounting. They prepare our monthly management accounts, pay BACS payments for us, keep our accounting records on Sage and do payroll for us. We pay them just over £4,000 per month for this.

At the moment it is very quiet in our office. We are going through one of those periods.

I am thinking of suggesting to my superiors that we try and insource this and I would be responsible for all of this except for the payroll. We would keep the third party only for payroll and install the accounting system on my pc and possibly others and I would be responsible for collating all the information and preparing monthly management accounts.

Does anyone have any experience of this at any level and can give any suggestions or tell me anything that may have happened along the way. What are the potential pitfalls of something like this?

Does anyone know the annual cost for a business to have “Sage Accounting Package”?