Finance Director (FD)
|A properly qualified and experienced FD should really be able to add value to any business.The problem is that for many smaller businesses they neither have the budget nor the work for a full time FD. In general terms businesses with turnover of less than £4 million probably don’t need one. None the less by using Sherlocks a part time FD can really make a difference by helping in the following ways:
A good FD should be able to provide a 12 month cash flow forecast by the 2nd or 3rd of the month. This is very important for small businesses, because they are more susceptible to monthly fluctuations. It also means that senior management can take pre-emptive action before the nasty surprise of getting to the end of the month and discovering that there is not enough cash for the payroll.
A FD that understands your business can help put together strategic plans that can really help with the acquisition of finance from outside third parties. It also helps focus internal efforts, making sure that internal decision making fits the strategic plan. At Sherlocks we can help you put a plan together that develops your exisiting business success.
Monthly Management Accounts
Monthly management accounts are absolutely vital for a business to see how it is doing. These are generally not difficult to do and with a little guidance a good bookkeeper can produce these on a timely basis. At Sherlocks we are happy to help put the systems in place so that your management accounts practically deliver themselves with the help of a good bookkeeper and if you don’t have one of those we can help too.
In small businesses many systems can often be neglected, leading to problems with stock holdings, or credit control for example and these can seriously effect cash flow. At Sherlocks we can help with undertaking a review to make sure that nothing important gets missed.
Preparation of Financial Statements
The FD should be able to prepare financial statements that can be submitted to accountants for audit or to Companies House for your annual return. At Sherlocks we can prepare your financial statements for you and really with a little careful planning these should fall out of the monthly management accounts.
To see how we can help the performance of your company, contact us for your free no obligation meeting.
telephone: 01733 750591