How do accountants contribute to sustainable working practices for their business clients?
Time management for SDG #3 Good Health and wellbeing is key to supporting all business owners, regardless of the size of the company.
There are many ways that the team at Sinclair Day support their clients and this blog will highlight a few key actions being taken with mindful awareness of the SDGs and their contribution to sustainable working practices in accountancy work.
The team and Sinclair Day actively embrace the latest technology that enables clients to spend time dedicated to developing their business, enabling them to earn more money and pay less tax. Reducing the time and resources needed to look over business’ finances and enlisting the help of professional accountants and tax advisors.
To build effective relationships, and allow our clients to feel valued, we work in collaboration with our clients to achieve incredible results. Our professional Accountants and Tax Advisors in Worcester truly care for each of our client’s businesses and work with the core values of honesty and integrity at all times. We free up time and take the pressure off our clients by delivering hassle-free accounting services.
A Case Study: What did our accountancy team do to help?
When our accountancy team started working with a Worcestershire-based client recently, we had a meeting to thoroughly understand their business, their sales platforms and processes and the challenges they were facing.
We then put together a proposal on how we could best support them and the processes that were needed to give them up to date reports so that they could see how their business was doing and confidence that these figures were accurate. Importantly, we also wanted to stop the owner having to dedicate two days every quarter in a mad panic trying to complete a VAT return.
We linked up their suppliers and sales platforms to Dext so that data is being collated daily; we’ve got the bank feed working into Xero for Paypal as well as the current account and agreed a process for the owner to follow to ensure that any other paperwork is captured within Dext.
We completed the client’s bookkeeping an a weekly basis, bringing all of the data from Dext into Xero, reconciling the banks and emailing any queries to the client. Their VAT returns are completed 2/3 weeks after the end of the VAT quarter, without any involvement from them, but giving them plenty of notice of the amount due. This all links clearly to SDG #8 (Decent work and economic growth) as we work to promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services (United Nations 2015)
Every month, they receive a report detailing their creditors and debtors, where applicable. Every quarter, they receive detailed reports analysing their business, it’s income and expenditure, as well as trends and anomalies as we work with transparency to support the wellbing of our clients (SDG #3).
The result is that we have an extremely happy client who knows how their business is performing, has confidence in their figures, has great systems and processes in place and doesn’t have to give up two days every quarter in a panic to complete a VAT return!
Saving time and managing business owner’s wellbeing
All of the things mentioned above demand a large portion of a business owner’s time and can take their focus away from other aspects of their organisation. This can cause long working hours or crucial deadlines to be missed, which could result in detrimental impacts on the business and its staff.
Our accountants in Worcester particularly benefit small businesses with our accounting services as we find the owner’s time is naturally consumed by multiple other branches of the business and we are proud to support the sustainability of our client’s through more sustainable approaches to working in business, considering the SDGs as part of our whole team approach.
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