The benefits of monitoring Cashflow

The benefits of monitoring Cashflow

The benefits of monitoring Cashflow

What is Cashflow?

Essentially cashflow is the money that moves into and out of a business. Monitoring a company’s cashflow plans for the forecasted and known upcoming costs vs. forecasted and known upcoming income.

 

What are the benefits of monitoring your businesses Cashflow?

Monitoring cashflow allows for decision-makers in the business to plan for any possible future loan requirements, if there will be any cash to make capital investments and to ensure that the business has enough funds in the bank to make all necessary supplier payments.

Businesses of all sizes need to ensure they have all the necessary income and expenditure covered in their forecasts to understand what their position is likely to be and ensure their survival.

 

This tool is extremely important to every business, so don’t delay and make sure an effective and well-monitored cashflow forecast is currently being produced in your business!

If you have any questions, please do not hesitate to get in contact with Karina Satulaite, you can call on 01243 782 423 or head to our contact form You can also find out more about our Virtual FC Services here.

Karina Satulaite - Virtual Financial Controller

What are Management Accounts?

What are Management Accounts?

What are Management Accounts?

What are Management Accounts?

The production of your annual accounts looks back in time to establish how the business performed throughout the last financial year, what happened in the past can only help so much when making decisions ‘ well lets not make that mistake again!’…..’ oh no we spent too much’, ‘why did we not invest better?’

Having monthly management accounts allows financial data to be analysed and monitored so that informed strategic business decisions can be made in real time.

Management accounts are bespoke to the business and its requirements. Typically, they will include an analysis of the Profit or Loss, include a cashflow forecast, aged payable and receivable analysis, budgets, and all other information specific to the business.

If you have any questions, please do not hesitate to get in contact with Karina Satulaite, you can call on 01243 782 423 or head to our contact form 

You can also find out more about our Virtual FC Services here!

Karina Satulaite - Virtual Financial Controller

Why have a Virtual Financial Controller and how does it work?

Why have a Virtual Financial Controller and how does it work?

Why have a Virtual Financial Controller and how does it work?

Why do companies choose the ‘VFC’ service instead of employing someone in-house?

Traditionally businesses employ in-house financial controllers to provide financial support, however there are huge advantages to look outside the box and work with a Virtual Financial Controller including:

  • Fully ACA/ACCA qualified accountants, backed by a variety of financial specialists so you always have peace of mind that your financial controller has the most up to date knowledge and information to support you and your business.
  • No need for expensive recruitment fees, employment contacts, costly payroll expenses and if your VFC is on that much deserved annual leave, we will make sure you have the full support from one of our other VFC’s in their absence.

What problems were they having that lead to them working with you?

  • There was a lack of financial transparency! No monthly management accounts, cashflow forecasts, budgets, or analysis of business spending.
  • By providing all of the above and so much more, the board of directors can now make meaningful and timely business decisions such as making capital investments, investing in further employment to grow departments, or reducing spend on certain cost centres.
  • There was also a lack of leadership and guidance for in-house staff in the finance department. By implementing processes which fit the business, providing guidance and necessary training to staff, the internal accounts department now runs efficiently with excellent team morale.

How does outsourcing work?

Initially it is important to establish your business needs and what you would like to gain from having a Virtual Financial Controller. We would assess the current financial processes in your business, put together a plan of action to meet your needs and provide you with a Virtual Financial Controller that will not only have the necessary skills and experience, but will also fit your team.

 

If you have any questions, please do not hesitate to get in contact with Karina Satulaite, you can call on 01243 782 423 or head to our contact form 

You can also find out more about our Virtual FC Services here!

Karina Satulaite - Virtual Financial Controller

What is a Virtual Financial Controller (VFC)?

What is a Virtual Financial Controller (VFC)?

What is a Virtual Financial Controller (VFC)?

A Virtual Financial Controller… What is one of those?

If you run a business and cannot justify employing a full time qualified chartered accountant to help you manage your finances, then a VFC is the answer to your prayers!  We will mentor your accounts staff, provide you with managements accounts, cashflows, forecasts, in depth analysis of your financial position each month and much more!

We can help you make meaningful decisions and reach those targets and dreams for your business!

A VFC provides you the accounting experience to make your team complete,  but you only pay for what you need! 

If you want to meet a real life VFC,  please contact Karina Satulaite, for a free initial chat! You can call us on 01243 782 423 or head to our contact form