There are many different ways to access our services, so you can choose the ones that suit you best. We can talk by phone, face to face, by email, post, or in the cloud. We are even available on twitter, facebook and through online chat. Whatever your preference, it’s important that you select an accounting system that works for your business and ensures that you get the information you need when, and how you need it.
We believe that our systems provision is second to none. Not only do we offer options that other accountants do not, we will never promote one product or system over another. Instead we’ll take the time to work out what you really need and help you select a system that meets your requirements perfectly.
Have a look at our Bookkeeping, Cloud Accounting and Product Review sections for more information about some of the specific systems that we offer or give us a call about our affordable credit control systems. Our Bespoke Reporting and Forecasting sections give a flavour of some of the sophisticated analysis that we can provide once a robust system of data collection is in place as well as how we can help you use it for the purposes of Business Strategy and Planning. We can help you decide upon and implement Invoice and Pay Run periods and systems that maximise your cashflow and we can even help you incorporate a Disaster Recovery system which will enable you to continue working in the event of destruction by fire, flood or theft of your infrastructure.
Every year, millions of businesses under-perform, suffer and even collapse because their accountancy practices fail to provide them with the insight that they need to adjust to changing conditions and position themselves appropriately in the market. Compliance with HMRC and Companies House regulations is only the beginning. Truly effective accountancy practices will provide stability, control and a foundation for growth.
We believe that the key feature of any accountancy system is robustness. It must function adequately under a wide range of conditions and include additional capacity to handle growth, diversification and expansion. A system that’s appropriate will meet all your compliance requirements in a manner that frees up your time for more profitable activities and allow for the collection of high quality data about your operation that can guide your strategic decision-making. One good example of this is a nominal ledger:
We offer a comprehensive Bookkeeping service and one of the most important aspects of this is the maintenance of a ledger. Traditional accounting practice requires that the ledger be an actual book with entries for each sale and purchase and a continuously updated bottom line. In the modern world, though, companies are global or national, and even the most domestic business is usually much more complex than a simple book can account for. A nominal ledger is typically electronic and allows for the collection of high quality information about how your business is functioning.
Consider the situation where your annual accounts show that your business is breaking even. A traditional ledger would offer no more insight than this. A nominal ledger, however, allows each transaction to be ‘tagged’ to a particular aspect of the business, or even a particular product. This may well reveal that whilst one area of your business is making a healthy profit, another area is making a loss. Cutting out this area of business altogether or improving its performance would therefore tip the whole operation into profit. This is a somewhat trivial example but it serves to illustrate the importance of high-quality data collection for good strategy and planning. A nominal ledger is a great start with this.
In addition to planning, accountancy systems should help you to minimise risk. This happens as a direct consequence of getting robust, high quality information about your operation, helping you to plan with an accurate idea of the likely outcome, but there are certain accountancy practices that address risk directly. One example of this is a credit control system:
The extension of credit lines to customers who are likely to repay their debts can be a huge stimulus to a growing business since it attracts sales from quarters that would not otherwise have been accessible. That said, as recent events in global finance have clearly illustrated, an accumulation of ‘bad debt’ that is, debt that is unlikely to be repaid, can be lethal, even to large, stable, well-established companies. Credit control systems therefore exist to differentiate between good and bad lines of credit.
Many third party organisations exist to allow you to check the credit status of a potential customer. Some of the more well-known include Bloomburg and AC Nielsen, but their services are most likely out of the price range of a small to medium-sized business. Many operations of this size therefore suffer from a lack of credit control protection.
Beyond all this, you need an accountancy system that delivers information to you in a format that suits your needs. Many people still prefer a traditional paper or spreadsheet-based interaction with their accountant, face to face meetings, phonecalls and email. Others need instant access to their information 24 hours a day and the facility to handle specific tasks remotely. Products like Xero, Freeagent and Wave fulfil some of these requirements. Larger organisations might require the kind of accountancy system that can only be effectively handled using the powerful software we have at our disposal as chartered accountants. Our Cloud Accounting, Bookkeeping, CIS/P11D and Product Review sections contain a wealth of valuable information about these systems and may help you to decide which one is best for you.
Communications with HMRC & Companies House
Self Assessment Tax Return
CT600 (Company Tax Return)
Monthly Management Accounts
Accounting Systems Set-up
Business Startup – Company Formation
Benchmarking and KPI’s
Virtual / Part-Time Financial Director / CFO
Non-Executive Director (NXD/ NED)
Disaster Recovery Systems
Monthly / Quarterly / Annual Performance Meetings