Outsourced business intelligence

Financial systems review

The importance of timely financial information cannot be underestimated and it is imperative that organisations' financial systems meet the requirements of all the stakeholders in the business. We will review your financial systems and where required make recommendations for improvements.

Accounting function outsourcing

If you do not have the internal resources to manage your day to day accounting needs we help to take control by computerising your accounts system. We can help you to make the best use of IT resource to produce financial information that is accurate and appropriate for running your business effectively. With the correct accounting software you will save hours of hard work leaving you more time to deal with the more important areas of the business.

Our team has significant experience in training clients to use computerised accounting systems. This can be done internally or remotely to ensure that time spent on your affairs is used as efficiently as possible, allowing your staff to focus attention on your finances. We are also now utilising the latest cloud computing software which allows us to supervise and provide advice where clients prefer to complete the majority of transactions themselves.

VAT support services

Ever changing regulations and the growing demands of HM Revenue & Customs (HMRC) mean VAT compliance can be a difficult administrative process. We can help to ensure that you comply with the regulations and that overpayments are not made. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes:

  • assistance with VAT registration
  • advice on VAT planning and administration
  • use of the most appropriate scheme
  • VAT control and reconciliation
  • help with completing VAT returns and online filing
  • planning to minimise future problems with HMRC
  • Negotiating with HMRC in disputes and representing you at VAT tribunals if necessary.
  • Management accounts

Effective management information will allow you to seize opportunities when they arise or identify problems quickly so you can take effective corrective action. Up to date, accurate and timely financial information is a pre-requisite for any growing business, particularly those in the innovation and technology sector. There are also external demands for financial information from banks, investors and grant awarding bodies.

We work closely with you to get to know your business so we can make suggestions to help improve profits or to develop and grow your business. We can prepare your monthly or quarterly management accounts to ensure you always have reliable and accurate information on which to base your business decisions.

Year-end financial statements

We can help ensure accounts are prepared in the correct format. Our experienced team will relieve you of the regulatory burden and leave you more time to concentrate on other areas of your business. In short, we will make sure everything is in the right format, in the right place and at the right time.

  • statutory audits
  • annual accounts

Budgeting and cash flow projecting

Every business should plan ahead to ensure success but daily business pressures often conspire to delay the strategic planning process. Financial forecasts are a crucial part of any business plan and we will ensure these are both meaningful and robust. McDougall Johnstone will challenge directors on their assumptions to ensure that they are accurate and realistic.

The purpose of financial projections may be for internal budgeting purposes or for raising funding and it is imperative that these projections are robust and demonstrate that the business can achieve the desired financial performance.

A wise man one said...

No person will make a great business who wants to do it all himself. A goal without a plan is just a wish. To accept good advice is but to increase one's own ability. Any sufficiently advanced technology is indistinguishable from magic. Advice is like snow; the softer it falls, the longer it dwells upon, and the deeper it sinks into the mind. Whenever you see a successful business, someone once made a courageous decision.