The Company

A UK based start-up producing its own range of cosmetics

The Problem

Following a survey and a discussion we defined the reporting needs of the business as follows :

A P & L account and Balance Sheet.

Detailed statement of Cash Flows.

Graphical analysis.

All to be prepared by Day 1 after month end.

The Solution

ConsolAccounts helped us set up our accounting from scratch so that all records were kept digitally and worked with us over time until everything was under our control.

We provided a spreadsheet solution that complied with UK tax authorities requirements for data to be saved in digital data format.

It comprised of a Cash Book, Sales, Purchases, Stock and VAT analysis linked together with our reporting solution that provided all of the management reports.

The Result

Together with training, wall charts and notes a system capable of being completed as soon as the month was completed gave a method of financial control.

The Benefits

The target was to get all accounts work done and reported by the end of by Day 1 after month end.

Day 2 after month end was the Review Meeting to identify and rectify any problem areas.

Figures were prepared and ready to be uploaded to HMRC and VAT well before the deadlines.

All of the features and more found in this bespoke solution are available in our month end reporting tool ConsolReports which totally automates Dashboard reporting and analysis for businesses