How’s business? A simple question but often difficult to answer. At JRP Accountancy we meet and talk with a wide range of industry professionals and business owners. Often businesses spend a lot of time on the admin – inputting figures and getting the books up to date, and these processes can be so time-consuming that they miss the opportunity to see and gain from the bigger picture. This can range from an easy win such as saving on staff costs to something more fundamental such as getting a clear view of your monthly profit and loss or projecting your cashflow. We’ll set out the steps you can take that will streamline your accountancy and book keeping processes, helping you to better understand your business and plan for the future.
Make Use of Technology
We know that when the bulk of your accountancy effort is going into simple data entry then having time for the bigger picture can be a real struggle. The first step we take with any new client is to streamline the way invoices and receipts are logged. We use technology to speed up the process enormously allowing you to spend your precious time and energy elsewhere. Supplier invoices and receipts can be scanned, emailed directly from suppliers or input via a smartphone app, making it an inexpensive choice to implement and also giving you the freedom to log data when you’re out and about.
Get your Books in Order
So now you’re on top of your invoices and receipts the next step is to make sure your books are up to date. By using an software such as Xero you can further increase your workflow efficiency, letting the bulk of the work happen automatically giving you accurate and timely information. We are Xero certified advisors and at JRP we offer a bookkeeping service for businesses to put your mind at rest and make sure your books always stay up to date.
Get a Management Accountant
If you don’t have an accountant the chances are you’re paying more tax than you need to. If you don’t have a Management Accountant chances are you’re leaving profit on the table by not focusing on all of your expenses and margins. We provide our clients detailed monthly reports, that map trends, and clearly set out your month on month financial and cash position. By analysing this data as well using our experience of the industry we’re able to give you sound advice which can help you spot any issues on the horizon and plan for the future. For an example of this take a look at our case study of the work we did for the Deer Park Hotel. By working with us they were able to reduce their insurance premium by 45% and their credit card processing fees came down by 50% too.
If you’d like to find out more about the cost-effective services we have to offer get in contact at Jon@jrpaccountancy.com or call us on 01823 711007.