Imagine driving your car along a windy road containing various turnings that may or may not need to be taken in order to get to where you want to be. To successfully reach that destination and navigate the various bends and turns on your journey you will want to be spending far more time looking forward through your windscreen at where you want to go rather than spending most of your time simply staring backwards through the rear-view mirror at where you have been.
Far too many accountants have been content (and indeed remain content) to simply provide their clients with assistance only in the compliance aspects of running their business, i.e. only looking backwards at their previous year’s accounts. At hsc we start our work where other firms finish and by providing our clients with real-time numbers we help them to really understand their business better, obtain a clearer vision of where they want to be and, by analysing the numbers that really matter to them, help them get there.
A proactive accountant always tops the wish list of business owner surveys and at hsc we have always prided ourselves on providing that level of proactivity for our clients. Our goal is to always exceed our clients’ expectations of what an accountant should be. In a world where technology is developing at exponential rates, we aim to proactively harness the latest and best developments in accounting software to not only help our clients by leading them through the next generation of change, such as the Government’s plans for Making Tax Digital (‘MTD’), but to also assist our clients truly understand the financial numbers behind their business.
By using the best software that is currently available, we provide our clients with real-time numbers that help business owners predict what their financials may look like into the future based on various agreed assumptions. We then assist them in changing that level of profitability and cash flow if required.
At hsc we start by helping clients move their business record keeping onto great cloud accounting software such as QuickBooks and Xero. This software has dashboards that provide a user-friendly picture of some of the key, real-time, financial numbers for a business. As part of the cloud set up, we then show how brilliant add-ons to that cloud accounting software, such as receipt bank and auto-entry, make a perfect partner in the accounts preparation function.
Our ambitious clients find that linking this software with a brilliant dynamic 3-way forecasting software take the understanding of business financials to a whole different level. This software allows us to not only create graphical boards showing the key numbers that an owner wants to see for their business (boards that can be selectively shared with staff members, if desired by the business owner), but also provides a 3-way dynamic forecast into the future showing the relationship between projected profit, balance sheet position and the all-important cash flow position of a business. With a 3-way forecast that links all of these three elements our clients really start to understand the numbers within their business.
This fantastic forecasting software syncs daily with a client’s cloud accounting software and can incorporate alternative forecast assumptions if required. This “what-if” analysis allows us to help our clients plan for the best case, the worst case and everything in-between.
By setting up alerts within the software we can inform our clients if anything in their forecast is different from actual and then help them understand why. With a proper alert system in place, our clients can be informed of not only changes that have happened today, but also provide them with the all-important indication of how today’s numbers will affect their future so that they can successfully plan for the future.
If you and your business really want a truly proactive accountant who will help you understand today, forecast tomorrow and action a better future then call Mark Tickel on 01273 324163 or email him and make an appointment to come along and see why and how we are different from the normal accountancy firm.