Issues Identified: Clarity needed on business performance
Reporting Method: Monthly accounts
We are providing a complete end to end service for this client. We complete all bookkeeping on QuickBooks, using technology such as bank feeds and receipt capture.
Meeting these requirements led to a thirst from the owner for further information. By adapting how and when we performed our bookkeeping duties, we worked with the client's in-house staff. This meant that we received key information in the right format, at the right time and were able to move to prepare management figures on a monthly basis.
Recognising the need for regular information on business performance, we had prepared quarterly management accounts for the business for a number of years.
We looked at benchmarks that the client wanted; gross profit margins and employment costs versus sales, as these were the main costs to the business versus relatively fixed overheads. We also compared industry averages, so that the client had a handle on his business – essentially ensuring that the business was performing in line with his expectations.
Meeting these requirements led to thirst from the owner for further information. By adapting how and when we performed our bookkeeping duties, and working with the client's in-house staff in order to ensure we received key information in the right format and on time, we were able to move to prepare management figures on a monthly basis.
Our client now gets the information he needs about his business when he needs it.
Our client says
“Sheards provide us with an excellent service that has evolved over time, first to cloud accounting, and more recently to more regular management information reporting. This gives me invaluable information on the performance of the business.”