N-Accounting

Managing Director

Home Retail Group PLC

This role was based in a buying department at Homebase that turned over £370m, it involved working closely with directors, category managers, buyers, merchandisers and various other functions within the company. 

Forecasting was a huge part of the role and involved working with various teams to pull together profitability expectations and manage any risks well in advance of them becoming an issue. 

Other responsibilities included financial appraisals on new product ranges and customer service initiatives as well as reviewing margins to identify sales mix changes and the impact of promotional activity.

A significant amount of work was undertaken to manage rebate and supplier support arrangements and to ensure that funding was released at the appropriate stages.

Trading Finance Analyst

Faccenda Group Ltd

This role was based in a sales department which turned over £260m, it involved working closely with directors, business development managers, category managers and various other manufacturing and agricultural functions within the business.

My role included producing the consolidated management accounts for the group, writing commentaries and consolidating various forecasts within the business in order to provide an overview as well as a specific involvement in the production of the sales forecast.

My work here also involved product costings and profitability analysis as well as tracking margin movements over time to ensure they matched fluctuations in feed and utility prices. Producing sales reports, presenting the figures at the weekly management meetings and driving an action plan to achieve improvements were also a key responsibility. 

I also spent a significant time managing a £10m rebate fund and coordinating with sales managers, financial accountants and auditors to ensure it was accurate as well as managing the reporting for outsourced supply.

Management Accountant

Barratt Developments plc

This role involved updating the accounting system for house sales, reconciling the bank accounts and producing VAT returns. I also helped to create valuations for new developments by incorporating sales forecasts with information from the surveyors and technical teams.

Later on I also took on responsibility for producing the management accounts and weekly management information pack with commentaries.

Assistant Accountant

We specialise in supporting businesses with 2 + employees. Our signature solution Apex will give you all the support you need, to build a completely scalable (and sellable) business. In addition we provide a full range range of accounting and tax services.

What is the difference between a cost and an investment, and why is it so important?

Every business has its typical expenses, which most people usually try to cut down on, but knowing the difference between costs and investments is crucial for financial success. 

In this video, we'll explore why it's important for businesses to differentiate between costs and investments, and how this knowledge can help you make informed decisions.

If you need some help on the ways you can increase your profits and achieve your goals, comment on this post or send me a message!


Nishi Patel

Had an amazing holiday with the family in Lanzarote this last week. The girls had such a great time! Big thanks to my awesome team for looking after the business whilst I was away.

If you want to learn how to build up your team so you can step out of the office more often, send me a message!

Why People Always Underestimate the Cost of Hiring People in Their Business.

People are the most valuable asset of any business, but they can also be one of the biggest expenses. When a business owner underestimates the cost of hiring people, they risk not having enough money to pay for salaries, benefits, and other costs associated with employee compensation.

It's important for business owners to understand the full cost of hiring people and to budget accordingly. By doing so, they can create a sustainable workforce and avoid the many pitfalls that come with undervaluing the true cost of hiring employees.

If you're thinking about hiring someone new and you need help working out the cost, comment on this post or send me a message.

Well done to Owen Canvin for passing his Management Accounting Costing exam with excellent results! 🎉

It's great to have a team that is highly motivated to continuously develop themselves.

Investing in your business is like planting seeds. It requires a lot of hard work, plus time, energy and resources into the project.

But when done right the outcome can be incredible.

Sure, no investment can guarantee success. But failing to invest CAN 100% guarantee that you’ll never get to where you want to be.

Investing in business infrastructure, technologies, methods and even people is an investment in the future success of your business.
 
Successful businesses always think ahead - they have plans to guide their progression both short and long term and they are willing to commit resources now so that they benefit later down the line.

And as a small business owner, it’s also key that you continually invest in your own development and education. 

If you’re ready to invest in your business and create a better future, go to: https://lnkd.in/eni-NtCa and let’s see how we can take your business to the next level.

Open article: Home - N-Accounting by n-accounting.co.uk

Bookkeeping is essential for tracking and understanding your business’s financial performance. It helps you better understand where your money is coming from and where it’s going, and empowers you to make informed decisions that will help your business succeed. 

It also helps you stay compliant with tax laws, manage budgets, and make better decisions about how to allocate resources.

Read more in the blog below about how good bookkeeping can be beneficial for your business.

If you need support with your business's own bookkeeping, so you can focus less on paperwork and more on growing, reply to this post or send me a message!

Open article: Why Bookkeeping is Vital for the Success of Your Business - N-Accounting 1 by n-accounting.co.uk

https://n-accounting.co.uk/why-bookkeeping-is-vital-for-the-success-of-your-business/

What the worst kind of advice your accountant can give is.

Your accountant is supposed to help you make informed financial decisions, but sometimes they can give you advice that ends up causing more harm than good. 

In the past we've onboarded clients from other accounting firms who were given a common piece of advice. While I do agree with it to some extent, in this video, I'll be explaining why it may not always be the most optimal recommendation to follow.

If your business is a car, then cash is the gas in the tank. Without it, you’ll break down. Furthermore, if you have to stop every few miles to refuel then it becomes very difficult to pick up any significant speed. As a result, the journey will take twice as long. 

When you’re driving, it’s important to keep an eye on your petrol gauge. Similarly in business, you need to monitor your cash flow closely to identify any problems before they impede your progress. 

For small businesses, even one unexpected cash flow shortage can lead to a myriad of issues. For example, you may miss payment deadlines and then end up incurring penalty fees and interest. This in turn eats away at your profit margins.

The sooner you can spot a potential threat to your cash flow, the more time you will have to prevent it and take steps to minimise the impact. Here’s how to spot an upcoming cash shortage in your business, and what to do about it.

Open article: How to Spot and Prevent Cash Flow Problems in Your Small Business - N-Accounting 1 by n-accounting.co.uk

https://n-accounting.co.uk/how-to-spot-and-prevent-cash-flow-problems-in-your-small-business/

Check out our FREE guide called '6 Secrets to growing your business during a recession'. 

By reading this guide you'll discover the following: 

- How important, systems and a team are in growth 
-Why knee jerk reactions can cause lasting damage 
- How people will change the way they buy 

Here's the link >> https://lnkd.in/dVu_AfBc

Why you shouldn't copy the pricing of your competitors

Are you struggling to set the price for your product or service? It may be tempting to simply copy the pricing of your competitors, but this could actually hurt your business in the long run.

It's important to consider your own costs, target market, and value proposition to set a pricing strategy that works for your business.

In this video, we'll explore why you shouldn't copy the pricing of your competitors.


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