Tailored accountancy services, like those provided by J Sweeney Accountants, are invaluable to businesses where fluctuations in project times, prices and labour costs can make financial management a burden.
Within the manufacturing and engineering sectors there are all kinds of variables that have an impact on the numbers. Seasonal demand for certain products creates highs and lows. Time and money spent on research and development has to be factored in. The cost of, and ease of access to, raw materials or component parts can lead to price hikes or delays.
The team at J Sweeney Accountants understands that time is precious, and clients’ expertise is quite rightly focused on bringing quality, innovative goods to market, not on number crunching and navigating complex financial regulations. Where accounting requirements are complex, the advantages of an outsourced accountancy service, drawing on a range of disciplines and specialisms become clear.
Director James Sweeney said: “As a company we offer the full range of accountancy services, ensuring our clients can rest assured we’ve got everything covered in a way that is tailored to their organisation and the business that they’re in.
“For clients in manufacturing and engineering, that often means work that is project based, timelines can become stretched, the variables can have an impact. Estimates need to be as accurate as possible, which requires rigorous accounting and a clear overview of the project and its data so that the company is prepared for any eventuality.
“With our comprehensive set of skills and specialisms, we shoulder all the financial management, leaving our clients to concentrate on what they do best.”
Who can benefit from J Sweeney’s bespoke accounting services?
- Businesses that require financial clarity – an accurate and complete picture of their financial situation.
- Small businesses who don’t have resources in-house
- Growing businesses who need to optimise their processes
as they grow and finances become more complicated. - Businesses which need a deeper understanding of their finances
- Businesses who need to improve their compliance
James added: “An outsourced finance team means that a client is not relying on just one employee, or one point of contact at their accountants, but has a cost-effective alternative available five days a week, 52 weeks of the year, to take full control and management of the accounting requirements of their company.
“We can act as a fully outsource accounts department that will operate as if it were part of the client company, with phone systems that allow calls to be answered as the client’s own finance department giving customers, creditors and suppliers direct advice and assistance.
“As part of that service, we implement a fully reporting finance function process chart and reporting manual to satisfy the requirements of the individual company, and we stay abreast of any tax and accounting law changes that could affect your business.
“The truth is that it is often unclear whether a longer-term project has been financially successful until well after it is completed, so it’s important to develop as deep an understanding of your finances as possible, to provide peace of mind and financial security.”
J Sweeney Accountants uses cloud technology and time saving apps to offer:
- Access to its cloud system (Xero) that allows it to monitor, review and implement the accounting procedures.
- Fully trained in-house Xero operators to ensure clients have full support for any inputting or reporting requirements.
- A daily reconciliation of bank account, sales and purchases ledgers giving live information available five days per week.
Extensive financial reporting and forecasting for the client includes a monthly management pack for review by the CEO, to be presented at the monthly executive board meetings including:
- Monthly profit and loss and balance sheet, with budget v actual visuals and commentary of above and below budget targets.
- Cash flow forecasts based on budget, forecast and actual real time information, allowing for foresight on any peaks and troughs on the cash of the business to allow adequate planning to be enforced where necessary.
Contact J Sweeney Accountants on 01604 950034, email info@jsweeneyaccountants.co.uk or visit the website.
