Case Studies

Case study 1 - Fashion Retail Outlet - Location: Brighton Sussex

HSC Professional Outsourcing provides the following services:

Payroll - preparation of weekly and monthly payrolls for staff employed. Payroll services include completion of all the forms required by the Inland Revenue, year end returns, staff leaving and joining, preparation of payslips and advising the client of the amount and date of the monthly payment due.
Cash book - HSC maintain the cash and bank account records of the retailer, performing bank reconciliations, collating till rolls, bank statements, cheque stubs, purchase invoices and credit card statements and records on a quarterly basis. All the information compiled is then processed on a computer package.
Vat returns - using the information compiled on the computer files the quarterly VAT return is prepared. The client is then notified of the amount to be paid and is provided with the completed return form to be submitted with the payment.
End of year - the information prepared quarterly is used to compile the end of year financial statements, thus reducing the amount year end accountancy work and the attendant year end accountancy fees.

Case study 2 - International Group marketing telecommunications products worldwide - Locations: Boston U.S.A., Hong Kong and Leatherhead, Surrey

HSC Professional Outsourcing provides the following services:

Payroll - provision of weekly and monthly payrolls for staff employed. Payroll services include completion of all the forms required by the Inland Revenue, year end returns, staff leaving and joining, preparation of payslips and advising the client of the amount and date of the monthly payment due.
Bookkeeping - provision of a complete bookkeeping and accounting service including generation of purchase orders, purchase invoice processing, generation of cheque payments, signature as authorised signatories for the group, generation and mailing of sales invoices and statements and operation of debt collection procedures where necessary
Vat returns - compilation of quarterly VAT returns including European Community sales lists and attendance at H.M. Customs & Excise compliance visits. Management information - monthly management accounts are prepared for the U.K. company and then consolidated with returns submitted from the U.S.A. holding and Hong Kong companies.
Client contact - The client travels worldwide, but is able to contact us by email, telephone or fax from wherever they are. Video conferencing facilities are also available if required.

Case study 3 - Street Arts Theatre Company organising events nationally and in France - Location: Brighton Sussex

HSC Professional Outsourcing provides the following services:

Management information - quarterly management accounts are prepared from the client's bookkeeping records.
Projections - in depth projections of profit and loss and cash flow are prepared quarterly, together with comparisons of actual against forecast cash flow. These projections are compiled using a bespoke software package written for the client by HSC staff.
UK government grants - support service in respect of compliance with terms of U.K. government grants
Board meetings - attendance at board meetings and ongoing taxation advice.

Case study 4 - Registered Charity and Social Registered Landlord - Location: Brighton Sussex

HSC Professional Outsourcing provides the following services:

Payroll - provision of weekly and monthly payrolls for staff employed. Payroll services include completion of all the forms required by the Inland Revenue, year end returns, staff leaving and joining, preparation of payslips and advising the client of the amount and date of the monthly payment due.
Bookkeeping - The Client's purchase and nominal ledgers are maintained on site at the client's offices on a weekly basis, so that the client always has up to date information available.
Rent control - Control is maintained over rental monies due and paid by means of a bespoke software package written by HSC staff for the purpose.
Projections - budgets and projections of profit and loss and cash flow are prepared annually and on a three and five year rolling basis.
Management information - monthly management accounts are prepared and incorporate budget comparisons and variance analysis for each property let.
Regulatory authority compliance - Housing Corporation and Charity Commission returns are completed as required. As the client is registered as a company limited by guarantee, statutory returns are also made to the Companies Registration Office and to the U.K. Inland Revenue as required.
Board meetings - attendance at financial sub-committee.

Case study 5 - Microelectronics company (subsidary of US company) - Locations: UK, Germany and France

HSC Professional Outsourcing provides the following services:

Bookkeeping services - operation of a complete bookkeeping and accounting service including posting invoices, cheque writing, acting as authorised signatories to settle authorised bank payments, and maintenance of all accounting records including cash books, purchase ledger (accounts payable), sales ledger (accounts receivable) and nominal (general) ledgers. (The company has a bank account in the UK and in Germany and also operates a sister company in France.)
Management accounts - each month the client is provided with bank reconciliations, analyses of expenditure and a set of management accounts in Sterling and also translated into Dollars. For the sister company the accounts are done in Francs and translated into Dollars. VAT returns - the information produced monthly is then used to prepare the quarterly VAT return.
Payroll - HSC prepare the monthly payroll for staff employed in the U.K., including preparation of the payslips, payment by automated bank transfer, completion of all the forms and year end returns required by the U.K. Inland Revenue and payment over of the tax deductions and national insurance contributions due.
End of year - The information prepared monthly is utilised to compile the end of year financial statements, thus reducing the amount of year end accountancy work required and the attendant year end fees.