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.
EB Associates will assist in providing accountancy and bookkeeping
for your business we can be contacted Please
use our contact form
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