Lettings Agency Analysis
This client owned a large property portfolio and sought analysis from MCC Accountants on per tenant income to discover the reasons why their actuals were falling short of their projections. In particular, they wanted to understand the geographical factors affecting their income. Seeking our assistance was a wise decision because we have a specialist in this area who is able to uncover insights that would otherwise be overlooked.
Our specialist compiled all relevant data to report to the Director, revealing crucial business findings to help grow the company and outlining areas for improvement.
Bookkeeping Help with Xero Cloud Accounting System
A consultancy client had managed their own bookkeeping on their Xero accounting system and some information had been entered incorrectly because of their lack of familiarity with the software. Amongst other issues, the errors caused the ‘dashboard’ to inaccurately reflect their available funds making it difficult for them to know where they stood at any one moment. They enlisted the help of MCC Accountants to rectify these entry issues for them.
Our team corrected the Xero postings made in error and returned the account balance to the correct amount. As a result, the client was able to review exactly how much profit was available for withdrawal. By contacting us when they did, they prevented the mistakes from becoming bigger problems further down the line and were able to rely on the information being presented to them by the software.
MCC’s team has a wide range of experience in multiple accounting packages including Xero, Sage and QuickBooks.
IMPORTING TO UK AFTER BREXIT
Brexit Advice for an Overseas Clients
MCC Accountants received an online enquiry from a US company who wanted to know how upcoming changes around Brexit would affect them. It is vital that overseas companies, as well as those based in the UK, understand how Brexit will affect their business operations, but the new rules and guidance can be complex and the situation is at this moment still uncertain. Therefore, the client was correct in seeking our expert advice to ensure they are in the best position to meet these new challenges.
Our specialist tax team immediately began looking into their query, and we aim to resolve it for them as soon as we can. We can guide them through the tax regulations as they are decided, updated and released by the Government.
Supplier Comparison Savings
A large property group with multiple lettings and development projects noticed that expenses to their suppliers were particularly high. Having been with their current supplier for many years, they naturally expected to be receiving the best prices on the market. Most companies assume this to already be the case or request an internal member of staff to complete the analysis. However, our client made the right decision by contacting MCC Accountants to look into this for them, because we are experienced in this area with multiple spreadsheet formats for comparing suppliers.
We conducted an in-depth comparison of over 150 products and 4 different suppliers, assisted with negotiations to suppliers, calculated exact variances and ensured all information was presented in a clear and understandable format. As a result, the client has seen supplier costs cut by over 30% with minimal input required from their side. They are now looking to implement the analysis on a rolling 6-month basis and “keep on top” of supplier prices going forward. These tasks are not often prioritised by companies, but this case demonstrates the importance of outsourcing them to an experienced team like MCC Accountants, because when done correctly there is potential for the client to make huge savings.