TBOS Complete provides a comprehensive back-office solution for both Permanent and Contract recruitment agencies. This plan includes everything from invoicing and credit control right through to your year-end accounts.
This is a very cost-effective way to carry out your placement administration, allowing you and your recruitment team to focus on the things that really matter to your business, like hiring more staff and closing sales.
♦ Pay-As-You-Go plans
♦ Significantly cheaper than hiring in-house staff
♦ Discounted Invoice Finance rates
♦ Management of staff payroll & commissions available
- Full-Time Accounts Department
- Telephone & Email Accounts Support
- Timesheet Management
- Invoicing (UK & International)
- Invoice Finance Management
- Contractor Payments (PAYE, Umbrella/Ltd)
- Credit Control
- Management of Supplier Payments
- Daily Bookkeeping
- Management Accounts
- Intermediary Reporting & VAT Returns
- Year-End Statutory Accounts
Will TBOS be raising invoices as my company name or as TBOS?
Under TBOS Complete, our back-office team will operate under the name of the recruitment agency client. This means all invoicing, telephone calls, emails and correspondence is completed in the agency name with the clients and candidates unbeknown to TBOS involvement with the accounts processes. All invoicing is sent out with the recruitment agency logo, name and bank details as well as the credit control correspondence.
Do you look after Perm-Only agencies?
TBOS are able to look after the back office of any size of type of recruitment agency, including Perm-Only Recruitment agencies. This plan covers the invoicing of Permanent placements, credit control, management of supplier payments, daily bookkeeping, monthly management accounts, VAT returns and your statutory year-end accounts. This a comprehensive service which is far cheaper compared to hiring in-house staff for your agency as well as paying an external accountant.
Do TBOS become Directors or Shareholders of my recruitment agency?
TBOS do not become Directors or Shareholders of any of our recruitment agency clients as we provide back-office and accounts support. Therefore, the cash-flow and company policies are the sole responsibility of the recruitment agency. Our team will work to the information provided by the agency client.
How much does TBOS Complete cost?
TBOS Complete is a pay-as-you-go back-office solution which varies in price depending on the frequency of placements you make. We highly recommend you give our team a call for a tailored quote to your specific needs.
Do you offer any extras like CRM database, website development, legal contracts, job boards, insurance etc?
As we are back office specialists, we remain providing the services we are most knowledgeable about so therefore we do not offer the other services you mention. With that said, we do have a preferred suppliers list these are reputable suppliers which have been recommended to us by our clients and who have been kind enough to offer discounts. You can access this list here.
Are there any additional costs that I need to be aware of?
TBOS will charge additional fees for our legal advisory service and further accountancy reports that are outside our standard service plans. An example of one of these are Shareholders Agreements.
What funding can I obtain for my recruitment agency?
TBOS can help to arrange invoice finance (lending against the value of the invoices you raise) for recruitment agencies dealing with large number of contract placements (subject to credit approval). With our team managing the finance daily, our clients benefit from preferential invoice finance rates from several lenders on the market. TBOS also offers a short-term funding solution called TBOS Freedom for agencies making a small number of contract placements. It is difficult to obtain funding on permanent placements unless you have a large debtor book, this will often only be funded at a lower percentage.
If I have my own invoice finance facility, can you still help me with my back-office?
Yes, TBOS has worked with many agencies who already have an outstanding finance agreement. Our team can work with you to manage your facility as part of our service. We also provide a FREE invoice finance review whereby we can negotiate a better deal for your funding requirements. We recommend you give our team a call to explore your options in more detail.