The new bookkeeper had no experience in preparing the relevant information required by the Directors and the handover provided was poor. The Directors also had a member of the family in the business who had a keen interest in taking on a role in the accounts department but needed time to develop the skills for the role.
Following initial discussions, it became clear it was key for the Directors to have monthly information, in a timely manner, to help base their decisions going forward and needed our support.
We agreed to complete monthly management accounts for both the trading and holding company in an agreed format. We were also available to provide ongoing support where required on a variety of tasks.
Due to our support, the Directors were able to navigate this difficult time and receive the timely information they needed to run the business.
Once they became more comfortable we were able to continue support on a quarterly basis and still continue to be available to provide support when required alongside completing year end compliance work and accounting advice. In addition, we were able to ‘train and coach’ the family member who became part of the accounts team is now a Director of the company.