As a company grows, it is an unfortunate truth that their accounting needs get more complex. Different tax brackets, more directors, shareholders and employees, and various tax credit systems all add up to increase the accounting workload.
With the introduction of our new package for growing businesses, Max, we’re adding several new strings to our accounting bow that can help clients get a better handle on how their business is performing, even as their books become more complex.
Making the most of your Crunch data
Our development team strives to make all the complex financial data Crunch collects as simple as possible to understand. For the majority of our clients the level of detail in Crunch is just right – it gives you an overview of your current and historic finances at a glance. For those who want more detail, our on-the-fly reporting is just the ticket – all your figures in recognisable reports.
Max is all about taking the interrogation of your finances to the next level and examining, in microscopic detail, each area of your expenditure and income.
Financial health checks
All Max clients will get twice-yearly financial health checks. They may take a while, so we’ll find a time convenient for you. You can even have your health check over Skype video chat if you like!
Using the raw information in your Crunch account your senior accountant will put together a financial report on your business that dives much, much deeper into your data than the Crunch software ordinarily does.
This report will examine, in minute detail, areas such as liquidity, profit margins, turnover, borrowing and assets using current and historical data (if available) to show how your business finances have evolved and how they are currently performing in relation to each other.
Your senior accountant will go through the entire report with you during your twice-yearly financial health check to help identify areas for improvement, and discuss ways of fine-tuning your operations for maximum effectiveness. For example, are your advertising costs way up, but your sales flat? Is your turnover sky-rocketing, but your profit margins down?
Your senior accountant can help you examine the cause and effect of a variety of financial issues – and very soon we’ll be offering specialist business advisors who can offer guidance on the best way to correct these issues.
As part of your financial health check, your senior accountant will benchmark your business against around 40,000 other firms of roughly the same size. This process will help you get a feel for how your business compares to the market at large.
The end result of the benchmarking process will be included in your financial report, and show you at a glance how your company performs in several key areas compared to the competition.
These financial health checks, detailed reports and benchmarking form the centrepiece of the overall Max package, which is tailored specifically for the needs of growing businesses. Additional payroll capacity (available through our payroll add-on), more directors and a specialist team round out what we believe is the very best accounting package for the small business on the up.