Over the last few months we’ve seen some huge changes to life. Our families, our jobs and our lifestyle has been impacted. And in amongst all this, one of the biggest things on your mind as a business owner will have been your cashflow. So, here is my question to you.
During all of the confusion, the furloughing of staff and applying for grants and loans – has your accountant been visible?
Does size equal service?
When you selected the firm who would manage your accounts, did you have a criteria? Was it the size of the firm – the larger the better perhaps? Like choosing a law firm, the more accountants on the job, the better equipped they seemed to deal with the various services you might require.
What if I was to tell you that it’s not always size that matters, but the qualifications and service that they bring with them? I wanted to write a post today that tells you a little more about The Balancer – and what makes us stand out in a spreadsheet of accountants.
The difference between ICAEW, ACCA and CIMA
Understanding the difference between accountants means you need to know a little about the qualifications.
A large proportion of accountants out there have the ICAEW or ACCA qualification. These focus on technical accounting. The majority of large accountancy firms will contain ICAEW and ACCA accountants, pushing through the books and creating financial reports and audits.
At The Balancer, I am CIMA registered (Chartered Institute of Management Accountants). I haven’t worked for a large firm full of accountants. Instead I spent many years working inside a business, as part of their financial strategy team.
CIMA accountancy is focused on business skills, supporting business and management accounts, strategic marketing and information management. My role has been to help shape financial strategy and make decisions that help the business to grow.
Practical accounting that gives you answers
A benefit of working hands-on inside a business is that I understand how to translate the finances for non-accountants and management teams. When you bring your accounts, directors personal tax accounts and payroll to The Balancer, I’ll actively help you to make the most of your finances and understand as much of the detail as you want to.
Working with a firm like The Balancer also means that when you do want those answers, you can be sure of getting a straight answer directly from me. You won’t be trying to speak to one of the 5 people who have worked on your books or getting responses from junior accountants when it’s the senior that you need.
One firm, many skills
It’s easy to assume that a smaller accountancy firm can’t handle your business. I have a team who are all specialists in their field, all working under The Balancer umbrella, which means everyone works within the same pricing structure.
Together we handle statutory and corporate taxes, personal assessments, payroll, VAT, bookkeeping and forecasting for limited companies and small businesses with around £1m turnover.
My aim is to make your accounting more effective for your business – to make your finances part of your growth strategy. The personal service that I offer means I not only advise you on potential changes you could make for improved results, I am invested in your success.
Has your accountant been visible?
I started out by asking whether your accountant been visible? In the first few weeks of lockdown I personally spoke to every one of my clients to be sure they had a plan and answer their immediate questions. Since then I’ve been sending regular bulletins of clear information, and I’ve stayed on hand for emergencies.
But the question isn’t really just about the last few months. Here’s what it should be.
Has your accountant been visible over the last few years?
Have you been getting proactive advice about strategy and changes you could make that would help your business grow – even when we’re not in unusual times? Would you like to? Then contact Nic Cooper at The Balancer by emailing firstname.lastname@example.org or calling 07985 645087. It’s time to get your accounts working for you.