Here at Lime Advisory, we can advise you on setting up the right financial systems for your business, which smoothly automate the process of managing your accounts from start to finish. If you are still using paper records or spreadsheets as your accounting system then you are wasting a considerable amount of your business’ precious time. We help you to automate the mundane accountancy tasks so that you have more time to spend on running and growing your operation. So, no more late nights spent ‘doing the books’ or becoming frustrated that the data you need to see is always delayed.
Keeping the authorities happy – If you put in the minimum effort possible to make sure that filing deadlines are met and the figures you submit are correct, but pay no attention to the figures or what story they tell, you are not looking after your business. At any point throughout the year, you should be able to produce a report on any of the business’ Key Performance Indicators (KPI’s). If you can’t then you probably don’t have any. Taking this approach will result in your year end accounts process being slow and manual as no day-to-day record keeping or automation is being completed.
You combine online with paper account management - If you keep some form of accounting records, but they are a mix of paper, desktop-based accounting software and spreadsheets, you can pull together meaningful reports. But, these will take awhile and involve lots of manual processing. Therefore, you don’t often utilise any of the data that you have. Your year end process is part reports from your software and part manual records, but it does need a lot of year end adjustments to get right.
You use cloud-based software -If you are using cloud-based accounting software including bank feeds, receipt capturing software and invoicing tools then you are keeping your data fairly up to date (within a few months). The live data is available to analyse in order to identify areas in need of improvement within your business, but you don’t take full advantage on that data.
You use cloud software and custom management reporting tools - By using cloud-based software including bank feeds, receipt capturing software and invoicing tools, you will have a strong hold on your company finances, being able to access live data every day. If you have also set up custom management reports within the software which highlights and tracks your KPIs against targets you can identify changes within the business very quickly as your data is always reconciled and up to date. Need some funding? easy – you have management reports at your fingertips to give to the bank.
At Lime Advisory we take care of the whole finance function for you so that you can operate on level 4. From advising on the best software and keeping your documents in order to creating custom reporting templates, everything we do is to make your life easier.