We recently completed a task for a client involving receipt tracking and VAT reconciliation for their quarterly submission. The client was using one of the Big 5 accounting firms, assuming that with their size and reputation, they would receive top-tier service. However, our experience revealed that bigger isn’t always better when it comes to meticulous financial management.
The Challenge
Our client’s VAT submission involved collaborating with multiple departments at the Big 5 firm. Each team member specialised in a specific area, making it difficult to gain a cohesive view of the business’s finances. This fragmented approach led to several issues, including misallocated payments, underpayments, overpayments, and even outstanding HMRC balances that the client was completely unaware of.
The Solution
When we took over, we applied our knowledge of the business to review the entire VAT process. We discovered and corrected errors that had been overlooked by the large firm. By carefully analysing the receipts and payments, we were able to:
- Correctly allocate payments that were previously mismanaged
- Identify both underpayments and overpayments and arrange corrections to future payments
- Spot outstanding HMRC balances, preventing future penalties
Our comprehensive approach allowed us to provide a level of detail and accuracy that was missing from the service offered by the larger firm.
Why Our Service Stands Out
We believe in handling every aspect of our client’s financials with precision and care. Unlike larger firms, where each department has its own focus, we provide a full-service solution, managing everything from daily transactions to complex VAT submissions. Our hands-on approach ensures that no detail is missed, and our clients benefit from a streamlined and accurate accounting process.
Don’t Settle for Less
While the name and reputation of a Big 5 accounting firm can be appealing, our client’s experience shows that smaller, dedicated firms like ours can often provide a more thorough and personalised service. We take the time to understand your business inside and out, ensuring that all financial matters are handled with the utmost attention to detail.
Get support for you and your business!
If you’re tired of fragmented services and want a bookkeeping team that will go the extra mile, we’re here to help. Let us provide the dedicated, comprehensive service your business deserves.
Drop me an email at lauren@swannva.co.uk and we can discuss how I can help you!
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