In many businesses there is a gap between the day-to-day bookkeeping and the information the management team needs to understand, measure and improve performance.
The gap might be created for good reasons but the bigger the company gets and the faster it grows – the more this gap will act as a drag on profits.
Firstly, as a business gets going the cost of accounting may be something to be minimised. Often a part-time bookkeeper or the MD or a family member will do the work, hopefully using a recognised accounting package.
This is fine – if it’s done right.
When it’s not done right, when processes are set up that are not very efficient, you can create bad practices that embed themselves like fossils at the heart of the business and continue to be corrosive for a long time to come.
No-one questions how things are being done because that’s how they’ve always been done!
Fast forward a couple of years and the business needs to know how it’s performing in a more sophisticated way – monthly management accounts, profit centres, job costing, budgets and cashflow forecasting, for example.
Who knows how to do these things, let alone that they may need to be done at all?
If the gap is not closed at this point then profits will be hit, often despite strong sales growth, and it will cost more to rectify the situation later on.
Our solution is based around the idea that very few companies need a full-time finance director.
What they need is an occasional dose of experienced financial management to keep them on track as they grow.
To begin with, this might require an intensive period of hands-on help:
Phase two is when the accounting is being done on automatic pilot. This is much more of an advisory phase
The business continues to evolve successfully, confident that it has strong financial management and that the board is getting the financial information that it needs to run the business.
But it controls its costs because it doesn’t create a full-time role for a part-time job.
Michael
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We’re a small business, I do all the bookkeeping – I just need someone to keep us on the right track
Profits, cashflow and getting paid – the more things change, the more they stay the same!
Chartered Accountants – Bedford House, Fulham Green, London, SW6 3JW
We don’t believe in forms, we believe in talking to people, finding out your needs and tailor-making a solution just for you.
Give us a ring on 020 7125 0270 or email us at info@bluedotconsulting.co.uk
“Michael and the Blue Dot team have been an essential part of our journey from startup through to being an established company, and we look forward to continuing working together long into the future. They have always been on hand to offer support and sound advice whenever it is needed.”
“Blue Dot have been our accountants and bookkeepers since the very beginning of our business, and have been nothing short of outstanding throughout.”
“Blue Dot Consulting went above and beyond in helping us navigate not only the transition to cloud-based accounting but also in leading our accounts team through a broader period of transformation.
Their deep understanding of our unique needs and challenges was evident from the outset. They provided unwavering support to our team, ensuring they felt confident and well-prepared for the changes ahead.”
“Thank you again for your help and training so far – it’s honestly been invaluable.”
“I’m no expert but it has been transformative the help and advice I get from Michael and his team.
Michael was fantastic. He quizzed me on how my business worked financially and was super patient with me. Explaining everything in a non-accountancy manner. He then showed me how to utilise all the less obvious tools in the program, which he continues to do, so that I can see immediately what monies held belonged to my company and what is held for clients. I now do my own VAT returns and payroll because of his help and continued support.”
“I really enjoy working with Blue Dot Consulting — they’ve helped me take control of our financial situation in a practical, no-nonsense way.
They take a common-sense approach and, most importantly, they get things done. For example, we now have weekly planning and forecasting calls, along with monthly cash flow reviews using simple, easy-to-understand spreadsheets.
Their support has made a huge difference in how we manage and plan for the future.”
“As the business owner, it can get lonely making all the decisions. I feel I have a ‘silent FD’ that I can call, challenge and that any idea is OK to discuss, and to arrive at a sensible way forward.”
“Having someone in the room that is happy to (in a structured way) challenge the norm and not simply accept that, because things look good, we should stop looking to improve.”
“Blue Dot are uncompromisingly systematic and thorough so that you can get on with running your business.”
“Outstanding service and support. They get things done, just what you need. Recommended.”
“It was the genuine level of care and interest in what we do as a business.
The regular check-ins and the effort to ensure the systems they’ve implemented are working for everyone stood out.
It felt like more than just a service, it was a partnership.”
“I’ve been delighted with both the service and expert advice I’ve received from Michael and his team. They take the weight off my shoulders when it comes to my business’s financial requirements, allowing me to focus on building and managing the company.”
“We are a small organisation with no in-house financial expertise, so it’s a huge weight off my mind knowing that I can rely on Michael and his team to take care of everything.”
“I can wholeheartedly and highly recommend Michael and his team at Blue Dot as an exceptional accounting firm. They put my mind at rest knowing I am in excellent hands.”
“Michael and the team are my saviours. Always helpful, approachable and reliable. They show an interest in my business and give excellent advice and recommendations. Above all, they are highly likeable and fun to work with.”
“They went above and beyond in helping us navigate not only the transition to cloud-based accounting but also in leading our accounts team through a broader period of transformation.”
“You guys are brilliant. It’s been a challenging few weeks facing up to the issues but I do feel positive towards them now and I feel a weight has lifted from my shoulders. I am honestly so thankful!”
“I was a little apprehensive about working with a new accountant but I didn’t need to worry – I have found their approach to be friendly, genuine and they go above & beyond to help.”
“Michael’s straightforward, practical and tailor-made approach was perfect for me and our business.”
“Blue Dot have been our accountants and bookkeepers since the very beginning of our business, and have been nothing short of outstanding throughout.”
