Virtual Accounts Office

A Modular and Flexible Service

Our VAO Managed Accounting Service deliverable via the Internet ensures that any business can have a professional accounts office, an accounts office providing you with all the management information that you need to achieve your business goals.

Your senior management is then able to concentrate on what they do best managing the business. Virtual Business Source can help businesses from their earliest stages who want a complete service, or assist larger companies who do not want to incur the overheads of running their own comprehensive finance function.

Our VAO Managed Accounting Service ensures that your business can have a professional Accounts Office which provides you with all the bookkeeping and management reporting necessary for you to achieve your business goals and stay in control.

We specialize in helping business owners:

  • Stay in control of their cash flow so that it can be put to work in growing the business.
  • Focus time on key business goals and see profits increase as a result.
  • Spend less time in the office, more time with friends and family because you’re working fewer hours.
  • Take long annual holidays – two weeks, three weeks or more while the administrative side of your business keeps running like clockwork even when you are away.
  • Cut out business stress and the burden of compliance work.

We can help from the earliest stages of a business as well as assisting when the business gets larger but you do not want the overheads involved in running your own accounting function.

 

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Professional Resource Centre

Ensuring delivery of the right services, the right product range and meeting customers’ expectations is a more important use of your management time than worrying about setting up and managing the accounting functions

An effective accounts department is however a vital element of any successful business but having the staff within the business with all of necessary skills is often impractical. WKH has all of those skills, it is after all what our business is about, and we also understand how IT can ensure that our services are delivered cost effectively via the Internet.

Our VAO Managed Accounting Service allows you to decide exactly which services and skills you need to be utilised to be a success for your business. It may be that a traditional book keeping service where we make all of the entries is the most appropriate solution.

Alternatively you may enter some data directly with us preparing just monthly management accounts. Virtual meetings can be easily setup via the Internet if required. If it is decided that it is most appropriate that the sales ledger entries are entered direct and the rest is left to us then it can be.

Our VAO Managed Accounting Service is not prescriptive. The decision is “what will work best for your business”, and because the service is modular, as your business needs change so can the level of service provided

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Core Modules
  • Sales Ledger
  • Invoicing
    Purchase
  • Ledger
    Cashbook (Bank)
  • Nominal Ledger
Additional Modules can include:
  • Sales Order Processing (SOP)
  • Purchase Order Processing (POP)
  • Stock
  • CRM
  • E-commerce
  • Time & Project Management
  • Bill of Materials
Company Secretarial
  • Registered Office
  • Annual Returns

Management Reporting

With the expertise of WKH as your “Virtual FD” your business has access to:

  • Monthly management accounts
  • Executive summaries
  • KPIs and Benchmarking
Payroll Bureau
  • Weekly and Monthly
  • P60s and P11Ds
Human Resources

A ‘Personnel Toolkit’ tailored for your business, gives step by step guidance and documentation.

 

Compliance

We can also handle a number of compliance issues that need to be addressed by the business:

  • VAT,Corporation Tax and Audits
  • Payroll Annual Returns
  • Statutory Accounts
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Electronic Invoice Handling

By utilising the latest workflow, scanning, and imaging technology purchase invoices, can be scanned and posted directly into the accounting system. These are then immediately available for authorisation by your management via a secure Internet portal. Pre-determined rules ensure that the invoices are routed to the appropriate personnel for approval by value, supplier, nominal ledger code etc. The system complies fully with EU regulations for ecommerce and means that once invoices are scanned into the system there is no longer the need to store paper copies. Once an invoice is approved payment to the supplier can also be dealt with if required.

Credit References & Credit Control

The pressure to make business decisions quickly has never been greater. However, making sure that the decisions made about trading partners are the right ones isn’t always easy. WKH can conduct the required due diligence and to help ensure that the bad debt risk is minimised. We can also provide a full credit control and debt recovery service in conjunction with our legal partners.

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What About The Technology?

The VAO Managed Accounting Service can be based around SAGE Line 50, Mamut Business Software and Exchequer, dependant on requirements.

The online options are accessible via the internet using a secure encrypted session. The software is delivered via the browser to any PC of your choice, subject to permissions, and any of your staff can use it regardless of location. They just need a PC and Internet access.

You can decide exactly which members of your staff have which functionality. For example, if you want your remote sales staff to be able to use the Customer modules and to be able to do stock enquiries then that is what they will have access to, wherever they are providing of course they have Internet access and the appropriate device, a laptop, PC, PDA, or even a mobile phone.

So no more worries about having to remember to backup, who may have access to business critical data, and because it is all delivered via the browser over the internet, you don’t need to worry about having to constantly invest in expensive new technology in the office.

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The Benefits
  • Available 24 x 7
  • Removing the complexity from accounts
    Improving the accuracy of your data
  • Delivering expertise and enabling informed decision making
  • Ensuring businesses have the services they need when required
The Costs

Each business has different requirements but typical services and charges can be found here.

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Delivery of this service can be in a variety of way:

  • By visits to your premises if that is practical.
  • Remotely by exchange of information and data.
  • Via the internet using fully online software.

What you will get from your Virtual Accounts Office

You can achieve increased sales, fewer hours worked, more profit and reduced stress by allowing us to help with:

  • Recommending and implementing changes to your systems.
  • Managing your day to day bookkeeping.
  • Controlling your debt collection.
  • Dealing with payments to your suppliers.
  • Calculating staff wages.
  • Providing you with all the management information you require.

If you would like further information on bookkeeping as part of the UHY WKH Virtual Accounts Office please complete the enquiry form.

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