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Are you the right Accountant to help my business?

Are you the right fit for me and my business?

Have you asked yourself are Krystal Clear the best fit for me and my business?

Find out by watching this video…

If you’d like to have a chat to see what’s possible then give us a call on 0161 410 0020 or drop an email to [email protected]

You may be asking yourself, are Krystal-Clear and their Four Pillared Krystal Clear Process Accountancy services a good fit for me?

It’s a great question and one that’s very important to the future success of your business.  Choosing the wrong provider could be costly in terms of money, stress and time. 

If you’re in the market for accountancy services and are wanting to grow your business, then there is a potential array of different needs that you have.

Here at Krystal clear Accounting, there are particular types of needs, we absolutely can help and there are others we can’t help as well. 

We think it’s important for us to be honest with you and let you know where we aren’t necessarily the best fit. So, let me give you an example of some of the services or the types of client we aren’t the best fit for here at Krystal clear accounting.

If you’re just looking for :-

  • Someone to produce your annual self-assessment tax return once a year or
  • Accountancy services for a life style business
  • A sole trader just starting out but no ambition to grow
  • You are very price sensitive
  • You only ever want a basic annual service

Then we aren’t going to be the best fit …

Equally, if you are looking for accountancy services for your limited company costing less than £1500 pounds a year as you are keen to keep costs down and you really only want to see your accountant once a year, then we’re probably not going to be the best fit for you either!

The reason for this, is,  that our service starts from around £2000 pounds up to  £24,000 pounds plus vat a year. It is dependent on a number of factors some of which are

  • service package,
  • size of turnover,
  • numbers of staff,
  • complexity of business
  • Bookkeeping records
  • industry sector.

So an average client spends between £300 and £750 a month + Vat with us which is £3600 and £9000 plus vat. 

Now, occasionally someone will come to us and they’ll just want an annual Accounts service with very little help and support, although we can help these people, it’s not really the best fit for us.

The business owners we can absolutely help are the ones that are saying, “I’m looking for help to understand my numbers and help to grow and make more profit. I’m looking for a better-controlled business that operates well without me, less stress, and more time away from the business

These business owners are often suffering from being stressed out as they don’t have enough time, they’re not spending enough quality time with their family. They’re probably not sleeping well, because they are worrying about the business’s cash flow, and how they’re going to pay the VAT bill.

WE hear these “pain points” a lot and we know that we can help, we love nothing more than getting stuck in with an entrepreneurial business owner helping them improve their business.

WE often find that where the business owner has done amazingly well on their own, they have been in business a few years, have grown, employ staff but now they realise they need a different kind of financial support that they haven’t had in the past to take them to the next level.

They’ve hit a bit of a brick wall; they’ve done lots of stuff but they are just not sure what to do next. 

They are clear on what they want the business to deliver for them in terms of personal earnings. 

They understand the costs of running the business, they have some data but need help just pulling it all together, measuring it and improving it as they are not 100% sure on the numbers and how it all fits together and the cost and profitability drivers!

Whilst they have a plan of where they want to take the business and what they want it to look like, they don’t always have it written down.

This is where we can really help and add real value with our © Four Pillared Krystal Clear Process.

First up we MAP IT – we analyse and assess EXACTLY where you are now, understand where you want to be and map out a plan to get you there!

Next we SORT IT – this involves making sure that all your financial data is flowing properly so you have all the info you need, in the right place at the right time

Then we SCORE IT , you’ll get your own bespoke Scorecard or Dashboard to ensure you stay on track

And throughout everything we Support IT – working closely with you, proactively to optimize all the key parts of your business.

Just to be clear not all new clients jump straight into the full program from day one, but it is a roadmap, and everyone starts with the MAP IT pillar as without this you have no clear direction to achieving your goals and then you move on through from there.

For the right businesses, it’s a hugely refreshing change…So if you’re fed up with the same old, same old accountant  that just doesn’t get it or you then we’ll be a great FIT

If you’d like to have a chat over a coffee (Virtually or face to face) and to see what is possible, all you need to do is call me or one of my team on 0161 410 0020 or email [email protected]

Hope that helped. Please subscribe to our YouTube channel so you don’t miss any of the content we release.  Feel free to hit like and share,  thanks for watching.

It is important that you take professional advice before making any decisions based on the information that you learnt here. While every effort has been made to make sure it is accurate it cannot be precisely tailored to your personal circumstances. This article is for general information only and no action should be taken, or refrained from, as a result of this information.  Professional advice should be taken based on specific circumstances in each individual case.  Whilst we endeavour to ensure that the information contained in the article is correct, no liability will be accepted by Krystal Clear Accounting which is a trading name of Kim Marlor Associates Ltd or damages of any kind arising from the contents of this communication, or for any action, inaction or decision taken as a result of using any such information.

What are Bank Feeds and how do they work?

In short, bank feeds create a digital link between your business bank account and your accounting software, such as Xero or QuickBooks.  

This means bank transactions are automatically downloaded into the accounting software. This simple piece of automation, completely removes the need to manually input every bank receipt and payment into the accounting software. 

Having bank feeds in place, saves a HUGE amount of time bookkeeping. That’s because it completely removes the need to manually input bank transactions into the accounting software. 

Saving time bookkeeping isn’t the only benefit for the business…. 

 

 

Are you the rights accountant for my business?

What are the main benefits to a business using bank feeds?

Bank feeds automate, what was previously, a time-consuming task of entering all the bank transactions into the accounting software. 

 This saves the business a HUGE amount of time (& money) spent on bookkeeping.  

With bank transactions being downloaded from the bank every day, it means it’s quicker and easier to keep the bank balance in the accounting software up-to date. 

With the accounting software up-to date, the bank is updated daily which gives you a clearer, real-time view of your business’s cash flow.  

This makes it easier for you to plan your cashflow, and take action to improve it. 

There is always the risk of errors being made when data is being manually inputted into the accounting system. It is often time-consuming to find and correct any errors. Also, if an error is large then the Profit & loss and Balance Sheet reports will be inaccurate and potentially misleading. 

 Automating the bank transaction entry previously manual process, reduces the risk of errors being made and ensures that the bookkeeping records and reports are accurate. 

How to Link Your Bank to Xero

Ensure that your bank account is set up for online banking. This feature is typically available from all major banks. 

Log into your Xero account and navigate to the banking section. Select ‘Add Bank Account’ and follow the prompts to search for your bank. 

After adding your bank account details, you’ll see an option to set up bank feeds. Click ‘Agree’ to the terms, then securely log into your online banking portal through Xero to authorize the connection. 

 

Are Bank Feeds Safe & Secure?

Yes. 

Firstly, having bank feeds in place ONLY means bank transactions are downloaded into the accounting system. They do NOT give anyone else access to the business bank account. 

 Secondly, XERO has various security measures in place to give you a piece of mind that your financial data is safe and secure: 

 

  • Encrypted Connections: Xero uses advanced encryption technology to secure the data transmission from your bank to Xero. This means your sensitive information is encrypted during transit and cannot be intercepted or read by unauthorized parties. 

 

  • Compliance and Standards: Xero adheres to high standards of data security compliance, thus ensuring that its practices meet or exceed industry security standards and regulations. 

 

  • Regular Renewals: To maintain a high level of security, XERO requires that the bank feed connection is renewed every 90 days. This process is straightforward and helps ensure that the integrity of your financial data is always protected. 

 

people are connected
KIm Marlor the MD of Krystal Clear Accounting
krystal clear accounting

In Summary

In short, having bank feeds really saves businesses time and money on their bookkeeping.  

 They automate and eliminate what is otherwise a time consuming and error prone manual process.  

 Bank feeds is just one of the ways technology can be used to help business owners improve the financial side of their business.

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