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Take away the worry and stress

Andrew Haggard heads up the team that provides offsite bookkeeping services to clients. He is very experienced in use of accounting software, and in ensuring that the correct accounting regulations are applied to the more complicated transactions.

We offer a wide range of bookkeeping services, tailored to client needs. An indication of range of services we provide is reflected in the case studies below.

 

Bookeeping Example 1 – A Private Equity firm requiring efficient, accurate information on tight deadlines

In May 2008, we were approached by a private equity firm based in the West End to provide an off-site bookkeeping solution. The firm had traditionally employed in-house resources, but felt that their requirements would be better managed by specialists able to provide a range of resources appropriate to the task in hand. There was also the opportunity to significantly cut their monthly cost.

A key risk for the client was that they would lose direct control of their books and records. We overcame this by providing them with secure online access to their records on our server, and by emailing them each month with a back-up of their records.

Services provided:

1. Maintenance of books and records.
2. Performing bank reconciliations, processing purchase invoices and expense claim forms.
3. Purchase ledger management including supplier statement reconciliations and the set-up of payments for authorization in on-line banking.
4. Sales invoice generation.
5. Monthly management accounts.
6. Payroll services.
7. Preparation of VAT returns.
8. Preparation of annual accounts for group LLPs and Ltds.
9. Migration from the in-house accounting software onto Sage 50.
10. Assistance with the restructuring of the management accounts format.
11. Audit liaison.
12. Company secretarial services.
13. Issues particular to the industry such as fund bookkeeping, the preparation of FSA returns, assistance with capital calls and the distribution of sales proceeds.

Key to success

1. Careful planning and early identification of the issue.
2. A strong relationship with the client.
3. An able and efficient resource at the client to manage the data flow.

 

Bookkeeping Example 2 – A local owner managed business with no staff and a need for better control

This client joined us in 2006. When he came to us, his limited company accounts were two years behind, as were his personal tax returns. We threw resources at the problem and had everything straightened out within a month. And our fees were lower than those our predecessor charged.

Better financial control has been a factor in his business growing. The company is now VAT registered and records are maintained on bookkeeping software at our offices. We have quarterly contact with the client, when he emails the information required for the VAT Return. We prepare the VAT returns for him, and submit them online on his behalf.

With good records maintained at our offices, the year-end accounts and Corporation Tax Return are completed with very little input from the client in an organized and controlled way. We have been able to structure the owner’s drawings from the business such that he is yet to pay personal tax.

Key to success

1. Efficient client relationship that minimizes the owner’s input.
2. Able to resource a new client with a problem quickly and efficiently.

 

Bookkeeping Example 3 – Local service company with big plans

This client joined us in early 2005 and was with us for three years. During that time, they grew from 5 full time staff to over 30. Our role ended when the client took the decision to build an in-house accounting team.

In addition to providing many of the services in Example 1, we:

1. Assisted in the appointment of the in-house Financial Controller that replaced us, including the interview of potential candidates.
2. Ensured that there was a smooth transition.

Key to success

1. Able to grow with the client
2. Approachable about all issues, including succession planning.