Case Studies – Management Accounts

Case 1: This company, originally based in Eastleigh, is a specialist wholesaler and supplier of specialist products for hospital trusts.

Their MD approached WBASL in 2001 for a cost effective alternative to having a full time accountant employed on-site. Including company benefits this employee was costing the company £70,000 per annum.

A Senior Accounts Manager was appointed to this role. By accessing their accounts on-line (Sage Line 100) we control and manage their accounts. She liaises with their accounting staff daily, providing them with advice and support. We control all month end procedures, processes the payroll, produce monthly management accounts, budgets, forecasts etc. We also manage and oversee all stock movements within the accounts. Since 2005 they have elected not to have an external audit. We produce the final statutory accounts and conduct an internal audit on their behalf, bringing significant cost savings on audit and accountancy fees. This is conducted by one of our qualified chartered accountants.

Their Managing Director is delighted with the service we provide and the huge costs savings made. This has resulted in Wbasl providing services to more companies with which this company is directly associated.

Our fees for this service: £1,245.00 plus vat per month.

Preparation of statutory accounts, internal audit and tax computations: £2,750.00 plus Vat

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Case 2: This company, based on the outskirts of Winchester, is a retail/wholesale business with a turnover of approximately £1.75m per annum.

In 1996 – yes 15 years ago… they advertised for an accountant because their part time accountant was retiring. Their accounts, management accounts, VAT returns, payroll and reconciliations were all produced manually. Their astute business owner saw the benefits our service would provide. We replaced their company accountant, installed Sage Line 50 for their accounts and trained and provided support to their existing, competent, accounts clerks.

Therefore for fifteen years we have managed their accounts from our offices at Leylands Park whilst they operate their sales and purchase ledgers on-site. We reconcile their accounts and produce timely and accurate management accounts for them each month. Thus they benefit from business decisions taken on sound financial information.

Our service has developed with time and we also provide the services of a Financial Director for them, extending our remit beyond accounts and finance to strategic business and management issues.

Our fees for the management accounting service £975.00 plus vat per month

 

Case 3 – This company based in Andover became our clients in 2007.

They are an extremely successful importer of the highest quality surgical instruments and their company has grown vastly year on year. In 2006 the orginal owners sold their business to an American company with whom they continue to work.

Wbasl has provided the managament accounting expertise to enable the UK distributor to satisfy all reporting requirements demanded by their American parent company – indeed in June this year one of our senior team travelled to one of their associate offices in Madrid in order to view and provide support for a future move to SAP.

Our fees for this service are £1,000.00 plus vat per month

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SEE ALSO: Management Accounts Service