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We were approached by a charity managing a register of 10,000 members. Their accounts were maintained on sage desktop which had been set up when the charity was smaller, but was no longer fit for purpose. We were engaged to review the existing structure and make recommendations on possible solutions. After discussing requirements with stakeholders we proposed a move to Xero, using the tracking categories to manage reporting by 21 departments. Staff members were trained to use the system and management account templates set up. We also assisted with creating a procedures manual and processes for approval of expenditure. Originally this was a manual process but an online system, ApprovalMax, was introduced in 2020. This is fully integrated with Xero providing a seamless process.
A client approached us with a problem. Their accountant of many years had been taken ill and their accounts were due to be filed in a few months. The client maintained 2 companies on spreadsheets, sending them to the accountant each VAT quarter. Summary totals were entered into system (to which they had no access) and VAT returns and financial statements prepared and submitted. The clients had no access to their ledgers. After allaying any concerns around cloud accounting, we set up Xero and imported transactions for the first 9 months of the year from the spreadsheet, reconciling totals to the VET ledger reports. Bank accounts were imported and reconciled and the final VAT return prepared and submitted. We then trained the owners and they now manage all their bookkeeping, with ad hoc support as required. We review the VAT returns and prepare financial statements. The client appreciates having access to their records, regular meetings to discuss potential tax liabilities and dividends and support when they need it.
An individual contacted us to assist with their personal tax. They were a high earner and therefore required to submit a self-assessment tax return but had no idea how to go about it. In fact they had avoided the problem and the 2019 return was overdue. Following an initial meeting we gathered all the relevant information and prepared the return for approval and discussion before submitting it. We then moved onto the 2020 return which was complicated, including pension contributions being carried back to utilise unused allowances, sale of employee shares and the resulting capital gain and discussions around changes in their circumstances. They have since left employment and we are working together on a business plan for their new venture. This includes advice on pricing, systems, structures and business models as well as creating various potential cash flow forecasts.