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resources 12.06

Support for your business. Returning to work. Mortgages.

We practice what we preach and have got ourselves well and truly prepared for the real storm that awaits as we face up to the challenges that lie ahead and are in a position to support you as needed.

We do now have three new members of the team that I’m sure you will all hear from in due course but also wanted to highlight some of the other changes that we are implementing over the coming weeks and months off the back of what we have learnt from lockdown and where we will be investing further in terms of time and resources:

  • We will; within our newsletters, be making our content more operational as well as financial based to assist you with the new challenges you are likely to face.
  • We will be issuing not just one newsletter per month, but as many as we see fit depending on announcements made to keep you as well-informed and up to date as possible.
  • Appreciating that not everybody will love the reading our newsletters and some would prefer something more interactive, we are currently considering the idea of fortnightly ‘huddles’ where we will have a dedicated hour for clients to join us and ask us whatever questions they wish.
  • We will maintain the idea of running webinars and are currently looking to run maybe one a month that will either be ran by us or an external expert from outside our field.
  • We will continue to update our resources page on our website; which can be found here for those that have not yet visited this, so if you miss anything you can go back and take a look at a time convenient to you.
  • Yes we have not started blogging as well to share our personal views and experiences as well so these too can be found on our resources page with one of favourites being the increasing importance of data.
  • We are in the process of fully rebuilding our website to again make this of more value and ‘future-proof’ for us and clients going forward.
  • We are also having some full customer-relationship software built to further tailor the content and support provided to you as clients and potential clients.
  • We are introducing new service offerings that we have already been providing during lockdown that we consider will be needed more than ever with one of these being the role of helping be your bank manager.  In the current climate, not everybody has a dedicated bank manager, but for those that do; including us, it has been invaluable and we will help breach this gap so we can support you when it comes to accessing finance.
  • In addition to our dedicated resources page, we have built out dedicated communication channels for specific support that include the following:
    • xero@gtaccountants.com – if you have any training needs or suggestions about content that you would like then please use this e-mail address.  Specific queries about your data within Xero should continue to be fed back directly to your client manager for a quicker and more tailored response.
    • funding@gtaccountants.com – should have any funding needs or questions then feel free to send them here and these can be picked up by our dedicated funding team.
    • enquiries@gtaccountants.com – we would ask that should you have any general comments, suggestions or even just improvements you would like for us to consider implementing, please feel free to share them here as we want to keep moving forward and improving so that we can do the same with our clients.

What I want to leave you with; at the bottom of this section, is that I remain cautiously optimistic about the future.  We must acknowledge that we are all at a crossroad or junction in our business journeys, and those that are looking optimistically ahead have taken similar actions to those above but tailored to their own businesses.

Have you done enough to prepare for what lies ahead?

Returning to work

One of our clients has kindly shared some recent work that they have been working on that might be of use for those returning to their usual place of work soon.

Feel free to contact Paul directly.

Mortgages

As the financial landscape right before us changes so rapidly, we have been chatting with mortgage brokers about what this means for those about to renew their mortgage this year and we are all in agreement that if this applies to you, then chat to your mortgage/financial advisor as soon as possible just to make sure you are prepared.

Blog - up

Words Are Good. Actions Are Better. Results Are Best.

Accountability has never more important than now, so why are we not seeing more people stepping up and showing real leadership?

Doing so could be the deciding factor in whether your business survives, and even thrives.

The press does its best to question the lack of accountability with leaders across the world. Closer to home, we’re seeing business leaders who are unwilling or unable to step forward in the current climate.

Why?

Distraction

Thanks to modern-day technology, we’re a click away from it. Whether that’s your phone, your laptop, or the TV or whatever, this on a day to day basis means it’s easy to lose focus and fail to achieve what you set out to do.

We need to stay focused and keep the end goal in sight.

What do you want to achieve? How will you do it? When will you do it by?

Let’s focus on three key areas:

  1. Time
  2. Information
  3. Money

Time

We want everything done yesterday.

The younger generation gets, possibly, unfairly tarred with this brush, but we’re all guilty of it. Can you say you’ve never paid extra for next day delivery with Amazon instead of going down the high street?

From a business perspective, everyone wants success. And they want it now. Right now.

And should we expect anything else? There are so-called business gurus out there who lead us to believe we can make a million pounds in a day. Yes, a day.

The volume of ‘how-to’, cheat guides and inspirational LinkedIn posts mean we expect more, quicker and easier whilst paying less for it.

Information

The amount of information you have at your fingertips can be overwhelming. And most of the time, you don’t have to go seeking it. It interrupts your day, with most of it being unhelpful and irrelevant.

Last week (yes, last week) I received a COVID-19 support email from a technology company I’d never heard of – several weeks after the pandemic has started. Talk about a waste of time.

How many support emails have you received? How much of this information can you read, process, and act on while staying on task with the important jobs you’ve got to do?

You need the right information at the right time. It’s critical to your success. So make sure you have measures in place to manage it correctly.

Money

How much money have you saved during this lockdown?

Despite the obvious financial strain the pandemic is putting on your business, you must’ve noticed you’re spending less than usual; ignoring food and alcohol costs perhaps.

This shows the amount of money we’re used to wasting. Look at that! There is food in the fridge after all, and you do have something to wear.

Like success, people want more money, easier and quicker. But money alone can’t fix problems caused by information overload and lack of time. You can’t buy either.

The Key To Solving All Three

You!

Many business owners are sitting on their hands waiting for it all the blow over. They think in a few weeks everything will be back to normal.

It won’t.

Other people read and regurgitate information to make it look like they’re doing the right things, without actually implementing anything they’re learning. They think that’s enough.

It isn’t.

Other business owners are keeping their sights firmly ahead. They’re leading by example. They’ve made a plan, communicated it clearly with their staff and fellow business leaders, and are doing what they promise. They trust that be doing this, they’ll see real results that will drive their business forward.

They are correct.

So, ask yourself which of these three people you are? If you don’t like the answer, it’s not too late, but time is running out.

You need to act now. You need the right information at the right time, which is something your accountant should be able to do for you.

The accountant you need in your corner right now is one that gives you the relevant and timely information you need to form a plan, communicate this to your staff, and do what needs to be done to survive and thrive COVID-19.

Get in touch today to find out how we can work with you to implement the action steps you need to get the results you want.

Blog - data is your director

Data Is Your New Director, And It’s About To Make MD

Without recognising the importance of embracing the digital age, every day you are throwing time, money, and effort down the drain.

Now; more than ever, data is the key driver; built of the back of the correct financial software, and here’s why.

The old days

You remember those days of not-so-distant-past, don’t you?

When a Simplex D book was the core part of any set of financial statements and without it, you’d be lost.

And then there were the old spreadsheets. Remember how they’d get passed from computer to computer, each person making their own amendments without anyone controlling a centralised version of it? When it came to making a report, the copies would be stitched together until you got something that ‘looked right’.

It took teams of people, with teams of people helping them, all under the watchful eye of the finance director.

Expensive stuff.

You’ll be glad to hear that’s a thing of the past. Nowadays, digital accountancy software does the job of a full finance team and finance director, with one big difference: the software does it better.

By design, the software keeps everything organised and in one place. It’s simple to use for anyone, and the data updates itself. Teams of people can work on an account at once without worrying about deleting or duplicating data.

You can use the software to pull reports in an instant that would take finance teams weeks, saving you time, money, and effort.

Here are three reasons why the right software, and the right accountant, is now all you need.

1) Data Input

Sick of logging expenses? With our accountancy software, all you need to do is take a photo of a receipt with your smartphone and poof, that’s it sent and logged for you.

Plus, we can link your bank account with the software. This way, the two systems communicate with one another and update themselves.

Suppliers can email the software, cutting out time usually spent emailing back and forth and logging everything manually.

And that’s what’s available right now. The world of accountancy software is moving at a fast pace and new ways to save time, effort, and money are being developed every day.

2) Basic Reporting

The data you need, at your fingertips, from any location.

What can you use this data for?

  • Comparing figures over whatever period you consider relevant and being able to manipulate this
  • Running customer and supplier reports
  • Establish payment patterns
  • Chasing debts

Finally, you can take control of your business to the fullest and get a clear, overall view of what’s going in in the best way possible: the numbers.

Any information you need is readily available to you. The answers to your questions answered, instantly, meaning you can get back on with your job.

3) Advanced Reporting

We can build you a bespoke dashboard of key features within your financial software to give you the information you need to make the right decisions.

We can set up your software to tell you when a customer’s credit rating changes, or when an internal target is missed. The best thing about this is the fact that once we set it up, it takes no effort from you to maintain it. All you get bothered with are the results and information you want and need to hear so you can force on the actions needing to be taken.

Our world is a smaller place than ever, so we are all competing with one another globally in some shape or form. This might be daunting, but with digital financial software, it doesn’t have to be.

If it’s that easy, where does an accountant come in?

The implementation, training, and overseeing of this technology are where your accountant comes in.

You need to focus your energy in the places that will give you the best return.

Give your business the best chance of success. Get in touch today to get started.

resources - Covid Guide April

Small Business COVID-19 Help Guide

Now more than ever, as a small business owner you need to know the key numbers to focus on and how to make them better. Understanding the key metrics in your business means you can form a plan that you can work towards in the short term, that will get you through to the long term.

Read more about  Small Business COVID Help

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