We specialise in providing accounting services and business support for Professional Service firms like Recruiters, IFAs, and Consultancy businesses. We work with you to reduce administration, improve your business processes, take care of the taxman, and help you increase your personal wealth.
Our clients in this sector include
- Recruitment & Search Consultants
- Independent Financial Advisors
- HR Advisors
- Marketing Consultants
In our experience, the most effective business owners in this sector have a decent understanding of numbers. You will understand how to navigate around a P&L and have an in depth knowledge of creating and understand the key cost drivers in your business such as staffing, software and property costs. Being in Professional Services, you will know that your clients pay you to solve a problem, but also for the value you create for them.
However, our experience also tells us that people like you face similar challenges.
• A lot of your income is project based, rather than recurring month on month. This means it’s possible to go from feast to famine in a short period of time
• You often leave the book-keeping at the bottom of your ‘to-do’ list
• You rarely have a conversation with your accountant about tax efficiency and having a personal remuneration plan
• You don’t plan effectively for VAT, PAYE and corporation tax payments
Professional Services covers a wide range of businesses. Let’s pause and give you some examples of our expertise and the apps we work with.
Search and Recruitment – experience of digital timesheet apps like Timesheet Portal and ETZ.
Independent Financial Advisors – completion of FCA RMAR reports and accounting for corporate bonds
Consultants (HR Advisors, Training & E-Learning, Not for Profit, Business Change experts) – installation of Project Accounting structures within Xero so that you can track and measure the profitability of individual projects
Our accounting solution for Professional Service businesses
We work best with tech-savvy business owners who understand the benefits of technology, are well -organised, and who can provide us with information digitally. Gone are the days where you used to put all of your paperwork into a box file and hand it over to the accountant once a quarter.
Our ingredients for an A plus accounting service are:
• Using the Xero accounting app at the heart of your software systems
• Our tech-savvy team who make sense of all of the data
• A suite of digital reports and electronic filings to keep the taxman happy
• Meaningful conversations with one of our experienced accountants about the health of your business
What services do One Accounting provide to Professional Service Firms?
You can read more about our service packages here. Put simply, we can work with you to provide services that fit in with your budget and your ultimate business goals.
There are a variety of monthly, quarterly and annual HMRC reporting requirements, and we take care of these in all packages. We strongly recommend that you don’t prepare your own VAT returns or run your own payroll. We have a great team and we never miss a deadline. You work long hours and don’t want to have the pressure of being behind with the taxman.
Using great apps like Xero and Receipt Bank we will help to set up a ‘data capture’ system so you have a way of dealing with the reams of paperwork that seem to pile up. We can provide book-keeping for additional fees to reconcile the payments in your Xero accounting app, ensure all of your supplier bills are paid, and providing additional checks and balances on the accounts.
This package covers all of your accounting, tax, payroll and VAT needs. It’s a no-frills service designed to give you peace of mind that we’ve got your back with HMRC and Companies House.
You can book a call with one of our Directors here to discuss more about your business needs and how we might be able to work together.
This package includes quarterly reporting where we take a deep dive into how your business is performing, and work with you to improve the long-term profitability of your business. It also includes all of the core services included in the Bronze package.
You can book a call with one of our Directors here to discuss more about your business needs and how we might be able to work together.
This package is for growing Digital and E-Commerce businesses with multiple revenue streams or multiple sites that need the experience of a Finance Director but at a fraction of the cost of employing someone.
You can book a call with one of our Directors here to discuss more about your business needs and how we might be able to work together.
What do our clients say?
Next Steps
If you appreciate the value that a good accounting firm can bring to a small business, then please get in touch. The next step is to book an introductory call with one of our Directors, Chris Thomas or Neil Faulds, to tell us more about your professional services business. You can do that through an online form here, or call the office on 0131 220 0152. We can discuss your business needs, your current challenges, and provide an estimated fixed fee quote on the call.
