How Small Hampshire Business Revolutionised their Business Finances

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Approved by You – Online Accounting Success Stories

Tired of their overcomplicated, cumbersome accounting system local business, Hampshire Metalcraft Ltd, went in search of something which would ease the pain of bookkeeping. What they found was a modern, efficient system and the best expert advice they had experienced in over 20 years of business.

The problem

The directors, Cliff and Carol Madgwick, felt they were getting bogged down by an inefficient accounting system, and did not feel that their accountants were providing the level of service they expected.

Using Sage, they found bookkeeping cumbersome and time-consuming. The system did not provide them with the information required to run the business effectively.

Added to this, the process to resolve queries with their accountants was slow and inefficient, and advice they received was often littered with technical accounting terms, leaving them confused and uncertain about what they should be doing for the best.

So they went in search of a new firm to meet their high expectations of top-notch advice and support, and someone who could set them up with a system fit for modern business. That’s where Approved Accounting came in!

The solution

From the beginning we developed an excellent working relationship with the directors, making it clear that we are always here to help, responding to requests and questions as quickly and helpfully as possible.

We helped them to choose and switch to Xero straight away, which meant they could take advantage of more efficient working practices and use Xero’s time-saving features.

With some training from Approved Accounting Carol was able to keep on top of the bank reconciliation, and customer and supplier invoices. We assisted in setting up a link from their HSBC bank account to Xero, which meant that statements would be automatically imported to Xero every day. We also set up a number of ‘bank rules’ in Xero to automate the posting of regular transactions.

Having done these and a few other things, we were quickly able to show that they could see how much profit they’d made in the previous week or month almost straight away.

This enabled us to see exactly how the business was doing, which led us to make some recommendations in order to reduce the tax liabilities of the business and the family.

The business pays a single, fixed monthly fee for all of this, including their Xero licence and unlimited advice and support from Approved Accounting.

Cliff and Carol are delighted with the results:

“The support from Approved Accounting has been excellent and we now have more time to focus on running our business.”

Conclusion

Both directors are over the moon with the improvements Approved Accounting and Xero have made to the way they run their business. They feel much more in control of their accounts and finances, with the added bonus of having access to our award-winning support whenever needed.

“Approved Accounting have helped our business hugely in the past year – the introduction of Xero has meant that ‘doing the books’ is no longer overwhelming!

We wanted a fresh outlook on accounting for our business, and Jon has given us just that.”

Read their full assessment of our service.

To see how Approved Accounting can help you to modernise and streamline the way you run your business, call us on 01730 823 000 or email [email protected]

More about Hampshire Metalcraft

As owner of Hampshire Metalcraft, Clifford Madgwick has over 35 years’ experience in working with wrought iron to create a wide variety of products, including gates, railings and decorative ironwork. The company specialises in bespoke commission items and, over the years, has created beautiful sculptures, iron signs, bridge ornamentation, ornate fireplaces and even a giant Christmas tree in Liverpool’s most popular shopping centre. They also undertake restoration work. See some of their creations and learn more about the company at: www.hampshireblacksmith.co.uk

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