The short answer
Interim accounting means that experienced bookkeepers or accountants take over closings, backlogs or a vacant role for a limited period. At nugrow, interim bookkeeping starts at EUR 850 per day excluding VAT, and the first suitable profiles arrive within 24 hours. How an engagement works in practice is described on our Interim Accounting & FP&A page.
Interim accounting gives companies a flexible way to cover their accounting needs. It brings in temporary specialists to bridge gaps or handle specific projects. This is especially helpful during staff changes or for one-off tasks.
Key takeaways
- Interim accounting is flexible and can be adapted quickly to different needs.
- It can be more cost-efficient than traditional set-ups, especially for short-term projects.
- The quality and reliability of the work depend heavily on choosing the right interim solution.
What is interim accounting?
Definition
Interim accounting is a temporary solution for the accounting function that companies can use when they are short of staff or have special projects. External specialists take over accounting tasks for a limited period.
Typical use cases
Interim accounting is often used in these situations:
- in times of crisis, when financial stability is needed quickly
- during restructuring or internal reorganisation
- when a vacancy in the accounting team needs to be bridged
- for special projects that need additional expertise
Advantages and disadvantages
Advantages:
- Flexibility: companies can react quickly to change
- Cost savings: no long-term commitments
- Expertise: access to experienced specialists
Disadvantages:
- Limited integration: interim professionals are often not fully integrated into the company
- Cost: short engagements can be more expensive than in-house solutions
Interim accounting is a flexible and cost-efficient way to keep your finances stable without long-term commitments.
How interim accounting works in practice
Bringing in interim professionals
Interim professionals are available quickly and can tackle specific challenges in the company. They often bring years of experience and can be deployed flexibly. Typical tasks include:
- bridging staff shortages
- delivering projects
- improving processes
Software and tools
Many software solutions support interim accounting and help keep the books efficient and error-free. Popular options include:
- accounting software such as DATEV or Lexware (both widely used in Germany)
- cloud-based solutions such as Xero or QuickBooks
- specialised tools for particular industries
Best practices for companies
To make interim accounting work, companies should follow a few best practices:
- communicate expectations clearly
- review progress regularly
- stay flexible and adaptable
Tip: what matters is who actually does the work. Ask to see the profile of the person who will handle your closing, not just the provider's credentials.
Interim accounting vs. traditional accounting
Flexibility and adaptability
Interim accounting offers a great deal of flexibility. Companies can react quickly to change without long-term commitments. This is especially useful during staff shortages or transition phases. Traditional accounting set-ups, by contrast, are often more rigid.
Cost and efficiency
A major advantage of interim accounting is cost control. Companies use exactly the services they need without paying for full-time staff. That is ideal for startups and SMEs that need to watch their spending. A traditional set-up can be more expensive and less efficient because it comes with fixed salaries and additional costs.
Quality and reliability
Interim accounting can deliver high quality and reliability because experts can be brought in at short notice. They often bring fresh perspectives and up-to-date knowledge. A traditional team offers continuity but can lag behind on flexibility.
Interim accounting lets companies respond to financial challenges quickly and efficiently, without long-term commitments.
Both interim and traditional accounting have their advantages. Interim accounting is flexible and fast; a permanent team offers stability and structure. Want to find out more? Get in touch and see how we can help.
Conclusion
Interim accounting is a flexible, fast solution for companies that need short-term support with their accounting. It bridges gaps and keeps all financial tasks running smoothly. It is especially helpful during staff shortages or special projects, and it is a practical way to keep your books up to date so you can focus on your core business.
Frequently asked questions
What exactly does interim accounting mean?
Interim accounting is a temporary solution for the accounting function. It is used when companies need short-term support, for example during staff shortages or for special projects.
What are the benefits of interim accounting?
Interim accounting offers flexibility and fast help. Companies can react to change at short notice and bridge gaps without entering into long-term contracts.
How much does interim accounting cost?
At nugrow, interim bookkeeping starts at EUR 850 per day excluding VAT, controlling at EUR 1,050 and FP&A at EUR 1,150. The budget is the day rate times the agreed number of days.
How do I find the right interim professional?
There are specialised providers, platforms and staffing agencies. What matters are comparable past engagements, the specific person and the start date. For interim accounting, nugrow proposes first profiles within 24 hours.
Related: Interim controller: temporary controlling.
For day-to-day bookkeeping: Interim bookkeeper: when temporary bookkeeping makes sense.
