To Find Out How Jigsaw Could Help Your Business Call Now on 01952 458407
"Julie is a phenomenal asset to our business. She has a phenomenal drive to deliver the best value in everything she does. If you want to be focussed on doing what you do best and hate being caught up in accounts and paperwork... then give Julie a call."
Chris Green
Calloway Green
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How To Correct Bookkeeping Mistakes and Ensure They Don’t Happen Again
Are your company finances in a muddle? Do you feel your profit and loss report just doesn’t reflect reality? Has your accountant just received your books to prepare your end of year returns and said you’ve got problems? Are you starting to lose sleep at night and don’t know how to put things straight?
Keep Your Finger on the Pulse of Your Business
Cash is the life blood of a business and if you don’t accurately know how much you have and how much is committed, you don’t know how much you can spend. For instance, are your bank reconciliations up to date or do you have a bunch of entries that still haven’t been reconciled?
Is the person who looks after your accounts creating dummy invoices or purchases just to make the books balance either with or without your knowledge?
The result – you could think things are worse than they are and needlessly make an employee redundant. Or you could think things are better than they are then accidently trade insolvent.
How Can Bookkeeping Go So Wrong?
Whether you’re on Sage, Quickbooks, MYOB or any other accounting software the information you get out of the system is only as good as the information that’s put in. To put it bluntly, ‘rubbish in = rubbish out’!
Possible reasons for losing control of your finances
Your office is very busy with large volumes of transactions so ‘paperwork gets lost’.
Your company has grown over the years but your accounting systems haven’t kept up.
Your book keeping staff are operating beyond their level of training or experience.
Chances are your bookkeeper is a very loyal employee; they could even be a family member. However, left unchecked when you know something must be wrong and they could put you in a position where you are making critical, life changing decisions based on false information. Ultimately, your business could fail.
Consequences of Bad Bookkeeping:
Winning a new contract then going bump because you couldn’t afford to take on the extra work.
Submitting incorrect VAT returns resulting in fines.
Being ‘flagged’ for a time consuming inspection by HMRC because of irregularities in returns.
In an Ideal World…
Ideally you’d know exactly how much money you have at your disposal at the click of a button so you can respond to business opportunities and challenges. When you have the right financial systems in place you can sleep again at night knowing you’re in control of your business.
Who We Work With...
At Jigsaw Business Services we work with the owners of businesses generally turning over between £250,000 and £2million to stay in control of their business finances.
If your books are in a muddle and you can’t accurately determine how much money you have we’ll help you recover the situation and put you on the right track. Plus the good news is we’ll do all the hard work of number crunching and finding the root of the problems for you.
Our Approach To Putting Your Books Straight
Because we are bookkeeping specialists, not accountants, our rates could be up to half that charged by an accountant. But it’s for this very reason most of our new clients come as direct referrals from chartered accountants who are worried about the state of their clients’ books.
Bookkeeping CPR – Here’s How It Works…
Stage 1 – CHECK Financial Records and Analyse Processes
We’ll come to your offices and conduct a basic analysis of your financial records and processes. This is similar to an audit but we prefer to call it an analysis as our air is to solve problems and improve processes, not just find mistakes. Remember, we’re not on a ‘witch hunt’; we’re here to help you. This analysis takes between 4 to 6 hours
Stage 2 – PLAN Remedial Actions and Recommend Improvements
Based on our findings in the ‘Analysis’ stage we’ll compile a written report highlighting areas of concern including specific transactions where applicable. We’ll also recommend the remedial action required to correct accounting errors and the improvements to your processes you should take to avoid these errors happening again.
Stage 3 – REVIEW Action Plan
We’ll meet with you again face to face to discuss the findings in our report and help you create an action plan to make corrections and implement process changes. At this stage you may decide your staff can make the corrections or you may prefer to outsource this task to Jigsaw, your accountant or another supplier. This meeting usually takes 1 to 2 hours.
Your Investment For ‘Bookkeeping CPR’
If you would like us to perform CPR on your financial records and processes so you can keep your finger on the pulse of your business finances and sleep better at night the fee for the complete three stage process is only £795 ex vat. Call 01952 458407 to book a meeting now.
Value for Money Guaranteed
When you book Stage 1 you’ll pay a 50% deposit (by cheque, BACS, cash or credit card) then the balance when we meet again at Stage 3 for the Review Meeting. If during this meeting you do not believe the exercise has been value for money then you don’t pay the balance. We can’t say fairer than that.
Your Next Steps
If you would like to find out whether ‘Bookkeeping CPR’ would be suitable for your business or how it would work if there are special circumstances call Julie now on 01952 458407 or complete the contact us form.
