journey-to-success-in-5-easy-steps

Stage One: Sole Trader – No employees

How can Ekstra Accounting Solutions help?

  • Business guidance & advice ( 1 hour per week)
  • Help with setting up a record-keeping system specific to your business
  • Help with choosing the most appropriate business structure
  • Help you with a simple business plan

Stage Two: Company Formation - 1 or 2 employees

How can Ekstra Accounting Solutions help?

  • Understanding your personal and business goals
  • Help with formulating your business plan
  • Undertake your basic accounting transactions e.g. invoice customers, pay suppliers, calculate vat returns, prepare bank reconciliations etc all through our support partners
  • Undertake your payroll and employer returns to HMRC etc
  • Prepare and review financial reporting specific to your needs and desires
  • Help to work on your business as oppose to in your business
  • Formulate the way forward for the next stage of your business lifecycle with budget setting and forecasting
  • Review your cashflow and ensure working capital is managed.

Stage Three: Growing Business – 3 to 10 employees

How can Ekstra Accounting Solutions help?

  • All of the above for company formation
  • Prepare more detailed financial management information e.g management accounts on a frequency that is suitable to your business
  • Develop and prepare Key Performance Indicators to help you monitor the business performance in real time
  • Focus on business growth through business strategy and planning
  • Prepare annual budgets and monthly review forecasts

Stage Four: Established Business – 11 to 50 employees

At this stage turnover will have reached in excess of £500k per year with a net profit return of approx. 10-15% depending on the industry and sector. The business or brand should be well known in the local community and the company should have a clear organisational structure and business strategy.

How can Ekstra Accounting Solutions help?

  • All of the above for growing business
  • Preparation and regular require of management accounts
  • Review variances against budget and prepare action plans
  • Review of product and project performance
  • Monitor balance sheet with key focus on working capital and cashflow
  • Prepare revised forecasts
  • Ongoing planning and advice

Stage Five: Full-fledged Business – 50+ employees

The all-inclusive outsourced finance function covers all finance department duties, routine finance reporting, including processing, reconciliations, payroll, customer invoices, supplier payments, and financial control. We also offer monthly management accounts, cash flow management (vital for growth), projections, budgets, and scenario analysis. All of the services will be tailored specifically to your requirements.

VIP Package

The overall benefit of the VIP package over any of the other packages is that you, our VIP customer get priority access. It takes time, is challenging and needless to say expensive to find an experienced finance controller or director who will focus on being a core part of your management team.

The VIP package is like having your very own virtual FD, someone who will always make themselves available to you. If this is the kind of support that you believe you need, then please pick up the phone and let’s arrange to meet. With such a personal service as the V.I.P package it is important that arrangement works well for all parties which in our opinion can only be done face to face.