Frequently Asked Questions

I already have a book-keeper and an accountant. What can FCA Solutions do that they can't?

This is the case for most of our clients and we are not looking to take the place of these people. Instead we offer a service that they may not be able to provide. The following table shows how our finance director services might dovetail in with the work for your book-keeper and accountant:

Book-keeper FCA Solutions Year End Accountant
Sales invoicing Monthly management accounts Statutory accounts for shareholders
Handling receipts and payments Monthly performance tracking Statutory accounts for filing at Companies House
Sales ledger Annual budgeting and forecasting Audit if required
Credit control Business plan preparation Corporation tax return
Purchase ledger Proposals to raise finance Directors' personal tax
Nominal ledger Capital equipment purchasing and finance advice Advice on tax implications of plans
Salaries Advice on employee benefit and remuneration schemes  
VAT returns Advice on financial implications of strategic plans  
Expense claim procedures Review and improvement of accounting systems  
Stock records and valuation Monitoring and improving business processes  
  Profitability and pricing analysis  
  Financial modelling  

This table is an example of a typical situation. In some cases your book-keeper or accountant may carry out some of the tasks that we could carry out. This would not be a problem.

If my company used you as a freelance finance director would you have to become a director of the company?

No, we use the term director loosely to describe the level of advice we give. We do not expect to become board directors of the companies we advise, although sometimes we are asked to take on this role.

How does a freelance or outsourced finance director differ from a virtual finance director?

Strictly speaking a virtual finance director is one that works remotely, preparing management accounts and other reports electronically. Whilst we do work in this way when it is appropriate, we normally carry out most of our tasks at our clients’ premises where we can work face to face with management and team members. For this reason we prefer to use the terms "freelance" or "outsourced".

Do I need to develop a Business Strategy for my company?

Ask yourself these questions:

  • Do you know what you want your business to be like in three years time?
  • Do you have clear goals and objectives to help you achieve that vision?
  • Is your business making as much profit as you would like?
  • Does your business provide you with a lifestyle that you are happy with?
  • Are your employees aware of your vision and committed to helping you achieve it?
  • Are you able to make business decisions quickly and confidently?
  • Are your business objectives integrated into your budgets and employee targets?

If you can't answer "Yes" to most of the above questions, you would probably agree that you need to develop a Business Strategy.

Any Other Questions?

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