This post is for growing businesses that need a solution to help them manage their Accounting but are not yet at the stage where they need or can afford an in house Finance Department.
These businesses have typically outgrown their current external accountant; this accountant manages compliance but cannot provide the finance support necessary to maintain control of the business.
The business normally falls into the following category:
Turnover > €1m
Employees > 5
Upper limits depend on the complexity of the business
We are uniquely positioned to provide outsourced or co-sourced support to businesses in this category because:
The Senior AMQ Team have considerable experience as Finance Directors/Controllers in businesses up to €100m turnover and understand the dynamics required for a business to be successful in the small and medium size sectors
We have extensive knowledge of Software Systems and can help businesses get the information they need to manage their business growth
We have a successful track record since we established our practice in working with clients to help them manage significant periods of change and help them significantly grow their business
Our service supports the owner of the business but the drive for change and growth must come from the business owner.
The overall support provided to clients will depend on the clients individual circumstances but can include:
Plan Development - Strategic Plan and Annual Plan
Monitoring of Annual Plan
Outsourcing of Bookkeeping/Accounts Production
Internal Control Reviews
Some questions we are asked in relation to this service:
Do I need change my Compliance Accountant if I use this service We can provide this service with your current compliance accountant in place if you wish to retain connection with him. If you want to change all of your accounting service provision to us, we can arrange for that also.
Can I hire expertise in house There is a time in the evolution of a business when it is the right thing to hire inhouse expertise. Quite often however, businesses try to setup an in house finance function before they have adequate scale to do so. In these situations we often see that they set up the function "on the cheap" and it can often fail. If you are setting up a finance function you typically need to start with two positions, an accountant and a bookkeeper. The skills for these two roles is significantly different; a bookkeeping employee may not have the expertise to provide you with accounting guidance; similarly, a qualified accountant may not enjoy doing your bookkeeping work and if forced to, may not accept the job or may leave. We work with clients either as a fully outsourced provider of finance services or as a co-sourced provider. As a co-sourced provider, you might hire in-house bookkeeper which we would train on the processes required to complete the books to our standard. We then provide an outsourced CFO service where we provide you with CFO services. When you have reached sufficient scale to have a controller in-house, it will be obvious to you as the owner. Normally you will need regular contact (daily) with your controller to help you with your business
If you want to discuss this further call 065 6703767 and arrange a meeting with either Michael or Paul Queally.
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