Adams Moore’s Board Support – Our Proactive Accountancy Service, at a Fixed Fee
While a good accountant is said to be worth his or her weight in gold, nobody likes to see a hefty monthly bill. An hourly rate with a freelance accountant can be difficult to budget for, so we wanted to help businesses in the Birmingham area and beyond with a higher level of accountancy service for an annual fixed fee.
You understandably may be unsure if your company would save money opting for a fixed fee service and that’s why we first hold a free consultation with you. We don’t want Board Support to be thought of as an insurance you might not ever claim on and because our aim is to help you drive the profits of your company, we won’t recommend the service if it isn’t going to be a cost effective choice. If your company has over 10 employees and a turnover in excess of £1 million then contact us without obligation to see how we can act as your outsourced finance director and keep your business on track and aiming high.
Part-time accountancy support for business is not uncommon. However, from our offices in Tamworth, the Adams Moore partners and associates will work as your satellite finance team, liaising with your bookkeeper and utilising accounting software, such as Sage 50. We can accommodate almost any requirements, whatever the size of the business.
If you want to hire a freelance accountant on a monthly basis, why not get the backing of a dedicated team too? We encourage clients to think of our partners as part of their senior management team and to draw on our firm’s vast business experience and contacts.
Our fixed fee support for businesses evolves with each client; fixed-fee doesn’t mean fixed elements so we work with clients to identify their company’s accountancy requirements. However, below we have detailed an example to help you better understand the level of accountancy and business support we can offer.
Always-on Accountancy Support
> Unlimited telephone support – if something comes up, pick up the phone
> We will attend key business meetings – for example, with your bank manager
> Additional financial reporting – including to raise finance, when considering a purchase or sale of a business, or for a business plan
> System training and advice – using accounting software to its full potential can save in-house resources
> Business health check – reviewing your projections, growth, costs and output to understand successes and challenges
> Business systems check – from software to financial processes, we will audit methods and means by which you care for your accounts
> Recommendations – we evaluate the findings from the assessments and offer practical advice, for example, to streamline workflows or reduce spending
> Budgets & forecasts – departmental and divisional budgets are outlined with projections for the business
Monthly Business Update
> Monthly meeting – one of the team will come to your offices or the majority of a day to discuss any issues and safeguard compliance
> Management accounts – by preparing the monthly management accounts we can measure annual progress and tax expectation more accurately
> Sales & purchase ledger review – we ensure no bad debts have arisen, chase old debt, agree to supplier statements and query any old balances
> Review records – your records should be accurate and up to date, and we review
> Update and summary report – any major issues are conveyed within a report for the MD, Directors and Board
Quarterly Strategic Review
> Attendance at Board meetings – both of Adams Moore’s Partners will meet your Board and present as required
> Budget summary – quarter-on-quarter comparison of budgets against actual spend
> Strategy planning – we will offer strategic advice on any business issues using management account findings and other reviews
> Accounts closed – we will finalise your statutory accounts within 2 months of year end
> Tax liability established – also within 2 months of year end, you can have peace of mind about what payment will be required by 31 January
> Business plan – looking ahead at the next 12 months we will create your statement of business goals and how to you propose to meet them
All of our Board Support clients are unique, range in size and span many sectors including automotive technology, health, farming and recruitment.
You can read more about the service in these case studies on Daytona Visual Marketing and Broadway Silver and contact us to discuss positively impacting your bottom line with a fixed fee accountancy service.