ACCOUNTING
Typically when we first consider taking on a new client we start by reviewing their accounting systems and records. Most businesses now have a computerised accounting system and we are very experienced in setting up and operating these – in fact we are appointed dealers for Sage and Xero.
Often our clients have only a bookkeeper with limited experience and nobody to report to. We will review the systems, suggest changes where appropriate, and gradually train and mentor the bookkeeper to do more, understand what they are doing, and take the accounting records further so that more meaningful financial information can be prepared more regularly, and year-end accounts can be completed as easily as possible.
We can get involved in any part of the accounting process, from a fully-outsourced bookkeeping function to simply picking up from wherever our clients’ accounting staff finish. Typically we might visit regularly to review the accounting records, put things in order and help with the preparation of management accounts or VAT returns. We can also deal with the bookkeeping remotely if necessary by sending clients’ updated accounting records electronically.
We can:
Set up Xero and Sage One accounting platforms
Provide a fully-outsourced accounting function
Review existing systems to ensure efficiency, and optimise management information
Train clients’ staff in bookkeeping and more complex reporting
Review accounting records regularly to verify management accounts or VAT returns
Provide cover when staff are absent
MANAGEMENT ACCOUNTING
We encourage our clients to prepare management accounts. Sometimes these are needed to support financing facilities such as bank lending or invoice discounting arrangements. More importantly, we feel strongly that our clients should prepare management accounts so that they know how their business is performing. The actual results should be compared to an annual budget so that variances from plan can be investigated and understood, and appropriate action taken quickly.
We can:
Review accounting systems to ensure that management accounts will be reliable
Prepare management accounts reporting actuals against plan
Help our clients interpret the management accounts
Help decide on changes to plans as a result of actual performance against plan