Welcome to JDH Bookkeeping & Accounting Services Ltd
What do we do? We offer to take the stress (and paperwork!) out of running your business.
How? By providing an extensive range of services that you can choose from to improve the running of your business.
How can providing financial services improve your business? See some examples below.
It has been said that cash flow is the life blood of your business. It’s not enough to make a sale. You need to get paid too! But if you don’t keep track of who owes you money and how old the debt is, how will you get paid? One business I dealt with missed £18,000 in sales because he didn’t put checks in place with his drivers to match their time sheets to signed sales orders. By the time he realised this, it was nine months past and he had great difficulty getting paid. His drivers had been paid but the business hadn’t. Your customers won’t tell you when they owe you money!
Another aspect to cash flow is forward planning – every business needs to know what money they have coming in and how much they need to pay out to suppliers on a monthly basis. In addition, though, businesses need to be setting aside money for quarterly vat returns and yearly (or 6 monthly for sole traders and partnerships) tax bills. If you don’t know how much profit you are making, how can you plan this? Knowing and planning can make the difference between staying in business and becoming a statistic in this difficult economic situation.
If your business is struggling and needs to re-finance, or your business is growing and you need more cash to expand, your books need to be in good order before any financial institution will lend you money. If your books are not up to date, the chances are, you may miss the opportunity and this could make a real difference to your business’ survival.
Let us take the strain out of your accounts.
Use Your Accounts!
Most people see their accounts as a necessary evil – something to do to keep the tax man at bay. We see your accounts as an opportunity to make improvements in your business. This can be done year on year (or more often, if need be) by comparison analysis. Compare your sales figures, your cost of sales figures and your overheads to see where you are doing well and where you need to make improvements. One client we did comparisons for, had his sales double. That was good – but when we looked at his advertising costs – they had quintupled! Some of his advertising was working but he could have saved a lot of money if he had kept track of which advertising actually resulted in sales and which didn’t. But simply knowing that, helped him next year to spend less on advertising and keep track of where sales were coming from.
If you would like some training on doing your own bookkeeping, we also are qualified trainers and have a separate company JDH Training & Consultancy Services Ltd. We offer classroom training and one on one support to help you learn the necessary skills. Visit www.jdhtraining.co.uk for more details.
Click on the links above to find more information on specific areas of interest and when you are ready, contact us for a chat about the solutions we can provide that will help your business flourish.