Accountancy & Bookkeeping - Financial Planning and Forecasting

Having control on the finances of the business is essential if success is to be achieved. Lack of control often leads to poor understanding of the company performance and in some cases business failure.

Many Small to Medium Enterprises fail to keep good accounting records which often leads to the business being managed by others. By others this can include non-qualified staff, bank, creditors and debtors.

If management information is readily available then control of the business means the Director or Owner Managers are making decisions in the full knowledge of the likely financial outcome. Also quite often financial information is needed for external purposes, if this is readily available it makes the company look efficient and saves significant time and money and the need to prepare accounts under pressure particularly when the decision process may be urgent.

Accountancy

We work very closely with the accountancy professions. This can be with the businesses own accountants or accountants we have built up relationships over the years.

We see the accountancy function as an ongoing process and not just and end of year function.

Operationally the accounts need to be produced in a way that is meaningful for the day-to-day operation where information is of a live nature. The minimum requirements should be to produce monthly management accounts close to month end. The accounts should be constructed in such away that they reflect the Sales, Cost of Sales and Overhead Structure within the business. An emphasis on cost accounting is highly desirable.

Book-Keeping

Bookkeeping is a function all businesses need to implement. Setting up systems and inputting information is vital to the accounts effectiveness. Too often businesses treat this discipline as a means to understand their sales and supplier ledgers only, ignoring the other information, which the accounts need to provide. These days with so many accounts software packages in the market place life has become easier for the business, however it is important the people involved in the process are trained and able to produce the correct financial information.

We at EBassociates offer a bookkeeping service to assist with initial setting up of accounts systems right through to maintaining records in order to produce the right type of information. We can work with internal staff to complement the existing skills or we can provide a total service.

This not only allows the business to control the finances with readily available management information but also reduces cost and time at year-end periods.

Contact us to find out how EB Associates can help your business.

We will help you to get where you want to be.