Just Simply Accounting

Hello to our new site...

admin — Tue, 26 Oct 2010 09:00:47 +0000

Our mission is to become the best known (and best loved) progressive management accountant partners. Our key to achieving this is Xero – the world’s easiest online accounting system. We love Xero, and we are sure that you will as well. (Just give us a shout and we will happily show you around it). However, our old website didn’t communicate our love of Xero – or any accounting system for that matter. It was time for a change.

We love our new site, let us know what you think about it? I hope you will agree that the new site, designed for us by WeWillFixIT looks great. Guess what? Ryan at WeWillFixIT is also a convert to Xero having transferred over from quickbooks. We like to keep in the family, so to speak.

As you read through our lovely site, here a few of the points I hope we are putting across are…. Do let us know whether you think the copy we sweated blood over, brings out these points.

Moving our clients businesses forward to achieve their business goals is the main aim – always keeping it as simple as possible. Generally speaking business owners don’t need to know the detail of how an accountant works (management or otherwise); but do need to have a handle on where their business is and where they have the possibility of taking their business. In my world of management accounting, I believe that every business should just press a button and see the up to date picture of their business on many of the systems available today. This is what Xero makes possible for our clients.

I recognise that not every business is right for Xero, and we do have alternative solutions. As with any new piece of software or knowledge to acquire, we take most of our clients through a step by step process to help them get to grips with both Xero and the financial reporting we are able to provide for them. The key to JSA being an effective finance partner for you, is not to take a broad brush approach, but look at the clients needs and understand what we can offer that will help make it simpler.

There are a lot of changes happening to many businesses, not only the economic roller coaster that we are all on, but we are getting many enquiries from businesses who want to work smarter with a ‘Cloud Accountant’ who will provide information to them regularly and provide that extra support wherever it is required. I wanted people to look at the new site and instantly think we can help them achieve this.

Does the new site do what I want it to? I hope so…..I would appreciate any feedback you would like to offer on the new site.

What is the difference between......

admin — Thu, 23 Sep 2010 15:06:34 +0000

What is the difference between……an Accountant and a Management Accountant
An accountant will assist you to deliver your financial obligations to HMRC and Companies House where it applies, statutory requirements. Some may do more than this and they may be providing interim financial reports, but Management Accounts are more than just interim financial reports.
“Chartered Management Accountants are financially qualified business leaders” Aubrey Joachim FCMA – CIMA Past President
Don’t take this the wrong way, as a CIMA Member in Practice (MiP) www.cimaglobal.com I don’t want to lead your business, but I do need to be an integral part of that business. As a small/(even) medium sized business you are fooling yourself if you think you can manage the business, create a brilliant relationship with your clients (as you need to) and be the finance part of the business. (I speak from experience!). You need help to get there, ever heard the saying that the second person to partner up in an organization should always be a finance professional?
In my opinion (this is not necessarily the opinion of CIMA) I, as a management accountant in practice (MiP) am there to provide the business plans for the bank, the 5 year forecast, the cash flow projections, and crucially the actual vs. budget (actual vs. budget should be produced and discussed monthly, but as an absolute minimum quarterly). Did you hear any talk of the past there? It’s all about “right now and the future”.
It really frightens me when a prospective client says to me, “my accountant does my tax return and that is it!” or “I am Limited so I have 9 months to prepare my accounts, but 6 months after year end I still don’t know what the status of my business was or where I ended up last year!”. How many conversations do clients have with their accountant about figuring out the direction they want their business to go in and setting some targets? Or do the business owners you know think it costs too much to get that support from their accountant?
“Management accounting helps transform management and financial information into business growth.” Aubrey Joachim FCMA – CIMA Past President
When it comes to numbers, I agree you have to understand where you have been, but it is more important to understand where you intend to get to and where you are against that plan. A good management accountant will look at your income and expenses and your key performance indicators (KPIs) that take you to your goal (having already identified them with you) and give you a report that helps you to interpret your business position right now. A management accountant should be giving you answers in real time and be proactive at helping you manage your business not reactive when things look bad in numbers that were correct in the distant past.
NB: Quotes are taken from a presentation done by Aubrey Joachim FCMA at the CIMA presidents lunch, Edinburgh 2009

Way back in the day....

admin — Fri, 18 Jun 2010 10:57:41 +0000

When I was 16 I was doing a Higher in Computing (Scottish equivalent of A-Levels), in which you had to carry out a project as part of your final mark. I take it as a signal that I knew I wanted to be a Management Accountant even at this age as my chosen project was to investigate the use of computers in a local accounting firm. I have to note at this point I thought there was only one type of Accountant, those that work in book lined rooms, think the one that goes a bit mad in Shallow Grave (as a Management Accountant who loves the relationship that she has with the businesses, I’m not all that surprised he was the one to lose the plot!)
Remember that this was 1990-91, and I know that those of you good at maths will be able to calculate my age, that’s fine, I’m not shy. When I did my interview with the individual from the Accountants staff there seemed to be an air of apathy around computers within the practice, an overtone of “oh! this will never catch on”. I was shown double entry ledgers in book form and green and black screens (remember original lotus 123). There was not a mention of Sage Accounting or the Chartered Accountant practice favourite IRIS. It was one of the largest practices in a town in the Scottish Borders, so maybe it was behind the times slightly…….
Recently (do that thing with the fast forward clock and the swirling years winding forward that you know you have seen on the TV) I was at a meeting with Rod Drury, Co-founder of Xero, the worlds easiest accounting software. One of the accountants in the room mentioned decision time for the accountant, join the on-line world or get left behind. The word ‘precipice’ came into the conversation. The Accountants precipice is all about where we go now? Just Simply Accounting knows the direction that we need to go in, and are taking it online and onto the ‘cloud’.
We currently run three on-line offerings Kashflow, Freeagent, and Xero. All of these programs are cloud offerings, and can be accessed from any computer with an internet connection; there is no downloading of software onto a machine as they all run on a web browser. Having a choice of packages ensures we can recommend the right solution for our clients. I have a view in my head of what fits what clients, this does not always fit but is mostly

Our job as the advisor in the relationship is to ensure that our clients get the right solution at the right time. Don’t get me wrong my favourite is Xero, it is a package that is a blessing for Management Accountants (CIMA), but it is working to go beyond that, it can do Budgets and Cashflow and produce Year End Accounts. An all encompassing program for my clients. Ultimately what I recommend to my clients always, yes always, depends on what is best for my clients at the time. If it is right, right now, does not guarantee it is right in 12 months. Just Simply Accounting will grow with your business, and develop as your Finance Team develops.
Accountants who have embraced new technology to keep up with the businesses we serve will survive into the next economic cycle. Just Simply Accounting, the ever changing and growing beast that I have created thrives on all the new clients that we attract, who are looking for information now! Quicker than your average accountant is willing to provide. Please get in touch if you think we can do right by you. Accountant Apathy is not a good enough excuse for your business.