Why do we consider ourselves different to other accountants?
We will go the “extra mile” and provide you with additional reports where relevant and some of these are highlighted below. Your affairs do not end with a set of accounts and a tax return submitted to HMRC – there are many other areas which we can pinpoint that will be of benefit to you. Our fees are often no higher than other local firms though.
Practically everyone running a business has heard of Sage accounting software. Many accountants will try to squeeze you into a version of Sage which may not be relevant to your business needs. We will not push you down the Sage route – we will consider other options and there may be something else which suits your needs far better.
We have developed a computer program, “Business Analyst”, to help you understand your financial dynamics and what makes it “tick”. By identifying key indicators, we can show you how to increase your profits.
Business Analyst is now in use in other accountancy practices around the country, and indeed is used in other countries too. It is widely recognised as the leading package of its type.
Feedback from Business Analyst
We identified in a manufacturing company that the costing methods in use had not changed for some years. They were introduced by a manager who had since left. By applying a second measure to the estimating, profits have increased substantially as some pricing was too low in the past.
The Analyst exercise was carried out for a builder. Two months later we met again and asked if any changes had resulted from our meeting. He had realised that profits were not going to be sufficient for his requirements as a result, and had increased his labour rates and materials mark up. He had not noticed any resistance to these changes from customers.
Let us help you help yourself.
We provide graphical representations and “dashboard summaries” of data as a matter of course, which help identify trends and an understanding of the figures. This is usually a summary of the last five years and a movement of funds statement. However custom graphs are often created, e.g. a linechart showing the last 21 years turnover and expenses has been produced to highlight trends.
Five year summaries
At no extra cost, we provide up to five year trading summaries which highlight trends over the period. Some clients value this more highly than the current year’s accounts!
We also include a Funds Flow Statement, highlighting cash movements.
Our specially designed procedures ensure that a wide range of subjects are discussed with you at a meeting. We don’t just look backwards; we look forwards as well – with a view to getting you to where you really want to be. We do not simply “churn” accounts and tax returns – we are always looking at other areas to improve your business, tax position etc.
We can provide IT workshops and “brainstorming” sessions on getting the most from your IT investment. We also perform this as a consultancy exercise for other firms of accountants across the UK. IT reviews are free of charge for our clients.
Partner Kevin Salter is the deputy chairman of the technical committee of the ICAEW IT Faculty, the practice representative for the South Western Society of Chartered Accountants and an evaluator for software accredited by the ICAEW. He writes regular weekly articles for the ICAEW IT Faculty website.
Added Value Services
We are members of 2020 Innovations Ltd, a national network of accountancy practices, which provides tools and consultancy services to enable us to deliver a higher quality and breadth of service to our clients. Partner Kevin Salter is IT director of this company, and regularly speaks at conferences and IT events on IT related matters.
The popularity of mobile devices grows exponentially – the mobile smartphone, tablet devices such as the iPad and the Android Nexus 7. We have made available – free to all – our Tax Apps for apple and android devices.