We can provide a specialist finance director service on an on going part time basis or for a one-off project.
You have grown to the stage where you now need more guidance but are not yet in a position to recruit a full time Finance Director.
If you are like many of our existing clients, you’ll be finding your business starting to grow once more and the ‘green shoots’ of recovery becoming a reality.
Businesses that have used a quiet period of business to invest in basic financial systems and routines are now well paced to take advantage of any new confidence. They know that bookkeeping, payroll routines, VAT accounting and basic processes will not cause them any headaches as they now concentrate on marketing, advertising and order fulfilment.
What many businesses now need is a fresh, independent appraisal of their financial and business performance; someone with whom to discuss and review results and process on a regular basis. A ‘critical friend’ with whom to plan ahead for the coming peaks and troughs, highlight the good things that are happening and thrash out solutions to the challenges that may be on the horizon.
A part time Finance Director!
We provide business owners with essential financial information throughout the year to give a better understanding of the health of their business and to aid decision making.
- Monthly management accounts and commentary
- Profit and loss account – monthly, by sales person, by branch, comparison with prior year
- Balance sheet
- Management of asset records
- Regular cashflow and profit updates
- Creating monthly or weekly rolling forecasts
- Identifying and planning for large or irregular payments
- Setting credit control targets from receipts
- Preparation of an annual budget
- Variance analysis to actual
- Forecast updates
- Preparation of profit projections before and after reorganisation of business activities (redundancies, closing departments, reducing overheads)
- Process review and improvement
- Review of your current business activities and accounting system
- Discuss your particular business requirements
- Recommend improvements or a complete new system
- Implement the changes
Click here to take a look at recent case studies to see how quickly About Accounts can make a difference.
Part Time Finance Director FAQs
QSo what does your part time Finance Director service cover?
AWe will discuss your business situation in detail with you first to understand the key drivers. We will then take you raw data (Sage, QuickBooks or spreadsheet for example), perform some basic reasonableness checks and generate a suite of reports that will form the basis for the regular ‘board’ meetings
QSo it’s just the numbers then?
ANo, not necessarily but we find it’s always a great place to start! Our breadth of experience with SME’s means we can help you decide the Key Performance Indicators (KPI’s) that will highlight the strengths and weaknesses of the business. We can then offer detailed advice on how processes can be implemented to make the necessary improvements – anywhere along the chain from sales order and purchasing to delivery and credit control.
QHow will it work for me?
AAbout Accounts will provide a flexible service that fits your business. In general, we find that a meeting once a month provides a framework for a growing company to build its business and reporting routines around. However, it is also recognised that that there will be times during the year when more, or less, support will be needed. The end of a financial year will signal a need to invoice on time, button down the bookkeeping and provide data for submission to Companies House and HMRC. Running a payroll will also generate peaks of statutory reporting that cannot be missed. Equally, school holidays often provide time to take a ‘works shut down’ and a welcome break from business pressures.
QIs it expensive?
AAs with all About Accounts fees, we will provide you with a competitive quote once we know a bit more about your requirements. Our experience shows that all businesses are different, having their own unique set of strengths and weaknesses but ALL can benefit from a structured approach to their financial management. Many of the businesses we already work with agree that the peace of mind they now enjoy in the knowledge that About Accounts are on board is worth every penny!
QSounds great – when can we start?!
AJust get in touch and we’ll discuss what you need. About Accounts are quick to get in tune with new clients requirements and will provide anything from a friendly chat without the jargon to a complete technical overhaul and advice on raising new finance for your next business venture.
Q‘I know I have to keep records but what will I get out of it?’
Ayour records will be more reliable, efficient, accurate and PAYE and VAT compliant
Q‘Why bother with it? The accountant sorts it out once a year’
AYou could achieve savings on your accountancy fees if your records are well maintained
Q‘Why does my bank account always end up overdrawn?’
AYou will be able to manage your cash better when your records are up to date and reliable