It’s easy for us to say that all businesses should have a Financial Controller. It’s even easier to say we have a Virtual Financial Controller (VFC) offering to ensure businesses irrespective of size can have access to top notch financial expertise. But, it is not so easy to understand the real-life impact until you see the potential benefits for your business for yourself. That’s why we have got our VFC’s together to present a few of what we’re calling our VFC Case Files on how this service has transformed real-life businesses today.

VFC Case File 1: Streamlining Payments and Reconciliations

A client, with a monthly fee of £2,200 plus VAT, needed help with:

• Bank Reconciliations: Managing three bank accounts with manual imports and reconciliations.
• Payment Runs: Weekly supplier payments, monthly payroll, and ad-hoc payments.
• Monthly Management Accounts: Revenue reconciliation, bespoke commission reconciliation, prepayments, accruals, and trade creditor reviews.

Our support ensured efficient financial management, freeing up the client’s time to focus on growth.

VFC Case File 2: Comprehensive Financial Management

For a client with a fee of £4,250 plus VAT per month, we provided:

• Bank Reconciliations: Manual reconciliations for multiple accounts.
• Payroll Management: Processing payroll, setting up PAYE payments, and liaising with directors.
• Supplier Payment Runs: Monthly processing of supplier payments.
• Management Accounts Preparation: Updating spreadsheets, analysing margins, and preparing cash flow forecasts.

Our comprehensive service ensured accurate financial reporting and efficient operations.

VFC Case File 3: Regular Bookkeeping and Management Accounts

A client, with a fee of £2,650 plus VAT per month, required:

• Bookkeeping: Three mornings per week, charged at £45 per hour.
• Monthly Management Accounts: Preparation and review.
• VAT Return Filing: Quarterly preparation and filing.

Our regular bookkeeping and management accounts service provided the client with accurate financial information, ensuring compliance and informed decision-making.

VFCs – The Path to Streamlined Success

So, there we have it! A snapshot overview of some real-life VFC Case Files showcasing the diverse ways this service offering can benefit businesses. From streamlining daily operations to providing comprehensive financial management, our VFC service can transform your business from day one. So, please do contact our illustrious VFC team to discuss how we can help your business thrive too! We can’t wait to be partners in your success!

Every business is unique, and so are its financial needs. That’s why our Virtual Financial Controller service offers customised financial management solutions tailored to meet your specific requirements.

Here’s how we can tailor our services to fit you!

Customised Financial Management Services

Our approach to financial management is flexible and tailored, covering:

• Day-to-Day Accounting: From data entry to payment processing, we handle all daily financial tasks.
• Management Accounts: Preparation of detailed monthly or quarterly accounts to provide insights into your financial performance.
• Cash Flow Management: Monitoring and managing your cash flow to ensure financial stability.
• Bespoke Chart of Accounts: Tailored to reflect your business structure and needs.
• Invoice Templates: Customised templates that match your branding and operational requirements.
• Departmental Reporting: Setting up tracking options for detailed departmental reporting.

Customisable Financial Management Integration

At Lewis Brownlee, we are proud to be Xero Platinum Partners. For us, it is important to move with the times, and we have seen first hand how Xero’s cloud-based platform is ideal for modern businesses. That’s why it is our go-to tool for integrations.

We customise Xero to fit your specific needs and can action:

• Direct Bank Feeds: Automatic import of bank transactions for real-time reconciliation.
• Add-Ons Integration: Connecting apps like Dext for invoice processing, stock management tools, and cash flow applications.
• Custom Reporting: Tailoring Xero’s reporting features to provide the insights you need.

Ongoing Support

Customised financial management is just the first step! Our team also provides continuous support to ensure your financial operations run smoothly. As such, we can take care of:

• Regular Reconciliations: Monthly or quarterly reconciliations to ensure accuracy.
• Management Accounts: Preparation of comprehensive management accounts.
• Cash Flow Management: Continuous monitoring and management of cash flow.
• VAT Returns and Corporation Tax: Preparation and filing of VAT returns and corporation tax returns.

This all translate into peace of mind for you, knowing that our industry experts are taking care of the complexities for you. So, you can keep going with what you do best – running your business and ensuring your path for success!

In short…

Customised financial management can significantly impact your business’s success. So, access to professional financial expertise is crucial. It needn’t be too costly either.  Our Virtual Financial Controller service provides customised solutions to meet your specific needs at a fraction of the cost of a full-time employee making it an attractive option for all!

Contact us today to learn how we can help your business thrive and one of our VFC’s will gladly walk you through!

Payroll management and pensions can be complex and time-consuming. But, our Virtual Financial Controller (VFC) service simplifies these processes, ensuring compliance and efficiency while reducing administrative burdens.

So, let’s take a quick look at how our VFC’s can help streamline these critical tasks for you!

Payroll Processing

Payroll processing involves multiple steps, from calculating wages to ensuring compliance with tax regulations. Here’s how our VFC service simplifies payroll:

• HMRC Liaison: We register new employers with HMRC and handle all required submissions.
• Real-Time Information (RTI) Returns: These are submitted to HMRC with each payroll run.
• Paperless Payslips: Employees receive digital payslips, reducing paperwork.
• Modulr Payment System: We can pay employees on your behalf, ensuring timely payments.

Pension Enrolment

Under UK law, all employees must be enrolled in a pension scheme within three months of starting employment. So, our VFC service ensures compliance with these regulations:

• Pension Scheme Setup: We liaise with your chosen pension provider to set up and manage the scheme.
• Automatic Enrolment: We ensure all eligible employees are enrolled promptly.
• Ongoing Management: We conduct regular updates and compliance checks to keep your pension scheme running smoothly.

Benefits of Our Service

Our payroll and pension management services offer several benefits:

• Compliance: Ensuring all payroll and pension regulations are met.
• Efficiency: Streamlining processes to save you time and reduce errors.
• Expertise: Granting access to experienced professionals who manage these tasks daily.

Partnering in your success…

Simplifying your payroll and pension management couldn’t be easier. Simply call us today to sign up with our Virtual Financial Controller service!

Our team can ensure compliance, efficiency, and accuracy, allowing you to focus on your business and what you do best. So, get in touch to find out more about how we can help streamline your processes and partner in your business success!

Call us today at Chichester 01243 782 423: Midhurst 01730 817 243: Whiteley 01489 287 782. We are always happy to see how we can help!

In today’s fast-paced business environment, managing finances efficiently is crucial. So, it is important that your accountant provides services suited to today’s world. Therefore, at Lewis Brownlee, we have designed our Virtual Financial Controller (VFC) services to provide comprehensive financial management support ensuring your business stays on track.

And, of course, while doing so, we are still committed to offering what we call our Quest! That is, quality, enthusiasm, smart working and team work that help your business succeed.

So, without much further ado, here is the low down on our VFC offering!

What We Offer

Our VFC services cover a wide range of day-to-day accounting tasks essential for maintaining smooth financial operations. These include:

• Processing Regular Payment Runs: Ensuring suppliers are paid on time to maintain good business relationships and avoid disruptions.
• Monthly Bookkeeping: Keeping accurate records of all financial transactions, which is vital for informed decision-making.
• Payroll Processing: Managing payroll to ensure employees are paid correctly and on time.
• Preparation and Submission of Quarterly VAT Returns: Ensuring compliance with tax regulations and avoiding penalties.
• Cashflow Management: Monitoring and managing cash flow to ensure your business can meet its financial obligations.

Year-End Accounting

Also, our VFC’s can naturally get involved with year-end accounting. These services are designed to ensure compliance and accuracy in your financial reporting. Consequently, we handle both:

• Annual Statutory Accounts Preparation: Preparing accounts in accordance with regulatory requirements.
  and:
• Annual iXBRL Accounts Preparation for HMRC Filing: Ensuring your accounts are correctly tagged and submitted electronically.

Initial Set-Up with Xero

We prefer using Xero, a leading cloud-based accounting software that offers unlimited user access from any location. So, our initial set-up services include:

• Customising Xero: Tailoring the software to meet your specific needs, including setting up the chart of accounts and management reporting requirements.
• Bank Account Integration: Connecting Xero directly to your business bank account for automatic transaction imports and easy reconciliation.
• Add-On App Integration: Considering additional applications like Dext for purchase invoices, stock management, and cash flow tools to enhance functionality.

How We Can Help

Our team is dedicated to ensuring your financial operations run smoothly. So, we offer tailored solutions and hands-on support to meet your unique needs. By choosing our Virtual Financial Controller services, you gain a reliable partner focused solely on your success. Basically, you can secure access to the high-calibre financial nous you need, but at a fraction of the cost of a full-time employee. Resultantly, a Virtual Financial Controller can be an attractive proposition as well as a fantastic opportunity for business growth and profitability.

In short…

With our Virtual Financial Controller services, Lewis Brownlee becomes more than just an adviser – we become your partner in achieving financial efficiency and success. So, please do contact us today to learn how we can support your business and partner in your success!