Many underestimate this area, however, having quality data that is accurate and up to date regarding your finances is essential to growing your business. You need to enter sales and purchase information accurate and on time, record where the cash is going, and have a full analysis of profitability. Products/Services profitability, Department Profitability, Individual Staff profitability etc. All of this can be determined from the bookkeeping function if maintained correctly.
There is technology out there for small companies providing what used to be reserved only for large companies. They bring visibility and automation to a bookkeeping platform.These tools streamline the process which means our services are priced very competitively and provide substantial value.
This service will be real time, meaning that your reconciliations will be made every week. A nice output of this is that you can have weekly management accounts. The idea is that all the quality bookkeeping is being done in real time which allows for the management accounts to be produced very frequently.
These services that we provide include:
Entering purchase invoices
Processing supplier payment runs
Reconciling all bank and credit cards
And controlling debtors (invoices owed to you)
Payroll is becoming increasingly more complicated and of cause now includes Auto-enrolment requirements. Keeping compliant with HMRC is essential, knowing that this work is being maintained by a team of Accounting professionals gives ease of mind.
We can provide services where staff can have their own limited access to the payroll system to be able to request holidays and review current and historic payslips. This reduces the burden on the employer having to send emails back-and forth, and yet another thing less for you to manage.
The business needs to know where it is making the most (and least) money and needs to have a clear financial platform to be able to analyse this.
Your Financial Plan is essentially - How does the business need to perform to give you this life you want?
Mapping this onto a Forecast & Budget allows for the entire team to be held accountable to the targets/goals.Accountability is not disciplinary but used to aid learning. A forecast also helps us spot when cash is needed, when to invest, what to invest in, and when it is sensible to go for loans or investment. We can form part of Management meetings, helping the team become more commercially focused, to steer the business towards its goals.
How much you require our services will then simply depend on the size of your goal and the speed at which you want to get there.
Our FD role is very flexible, it can be tapped in and out of according to your requirements. Having this role within your business can increase the wealth of the business significantly, its value. The role is as follows: