Do you know the current state of your business finances?

[Nixon Williams]

Nixon Williams monthly service is great but I asked them recently if they could tell me what the (interim) retained profit in my company was. The answer I got was "not until after your year end" which I didn't find very helpful. This is a fairly fundamental number and I would have thought anyone using half decent accounting system could extract this easily enough.

Guys @ NW - better interim / ad-hoc management reporting would enhance what is already a great service!

If I am guessing correctly, I have already emailed you with a figure.

What we tried to explain is that we do not undertake a full accounts review until we prepare the annual accounts. This involves checking that all your invoices have been paid correctly, and that you have taken what you should have done etc.

I will take your comments on board and see what we can do!

Alan

[Dark Black]

I'm with NW and they've been very good for me so far - likewise answered all my dumb newbie questions patiently and accurately. No complaints here whatsoever!

Recommended.

[King Cnvt]

Choose your accountant wisely. Switching accountants is like getting divorced. Confusing, frustrating, long winded and costly.

[Waldorf]

I'm with NW and they've been very good for me so far - likewise answered all my dumb newbie questions patiently and accurately. No complaints here whatsoever!

Recommended.

Me too, very happy since I joined, great service at a great price.

[Red 7]

Another NW client here (seems there are many of us)

I find the monthly service prompt and efficient and the staff helpful.

But....

As a previous poster mentioned, it would be very helpful to have a cumulative retained profit figure on the monthly profit sheet. There are times when I may want to take a larger dividend than usual but cannot easily find out the current position re. profit availability. I'm sure Alan will correct me if I'm wrong, but the service and documentation seems to be geared towards those who would 'withdraw' all available monies every month.

Also, there have been a few (fairly minor) mistakes, these were not picked up by NW and were corrected after I pointed them out. However, Because of these I find myself double checking everything, which kind of defeats the object of having the accounts work taken off your hands. Perhaps I'm just being a little over cautious.

I am generally happy with the service though and hope things will run smoothly going forward

[Nixon Williams]

The monthly profit calculation we issue is only ever intended to be a guide and is only as accurate as the information that we receive. So if a client forgets to send a receipt then the profit would be overstated.

However it seems to work fine. We can easily let you know what the cumulative profit is if you contact us, but again this is only a guide. The thorough analysis and checking is undertaken at the year end process. We do not use these monthly estimates to prepare the annual accounts.

If we do make mistakes, and sometimes even we do, we correct them but these would generally be picked up at the year end in any case.

We always appreciate feedback, so keep it coming, it helps keep us on our toes!

Alan

[opc]

Another NW client here (seems there are many of us)

I find the monthly service prompt and efficient and the staff helpful.

But....

As a previous poster mentioned, it would be very helpful to have a cumulative retained profit figure on the monthly profit sheet.

I keep a very simple spreadsheet that shows my (monthly and cumulative) retained profit after dividends.