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Our services

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iFinance Department provides bookkeeping and management accounting services for small and medium businesses (SMEs)

Bookkeeping

We provide all the bookkeeping services you need for your business. These include:

  • General ledger posting and account reconciliations
  • Cash ledger posting and bank account reconciliations
  • Accounts receivable
    • Invoicing and credit notes
    • Post and allocate cash receipts
    • Issue statements and customer chasing
  • Accounts payable
    • Post supplier invoices and credit notes
    • Ensure invoices get properly authorised
    • Pay suppliers when due
    • Reconcile supplier statements to supplier account
  • Document management for the above items

Management Accounting

We provide all the services you would expect from a company’s finance department. In addition to the bookkeeping tasks listed above, we handle all the more specialised accounting tasks such as:

Managerial accounting

Your management accountant picks up on completing your regular financial activities from the results provided by your bookkeeper(s). Small businesses often only have need of a bookkeeper, but as a business grows and gets more complex, it will require a good management accountant to handle more specialised tasks. These types of tasks include:

  • Preparing VAT returns
  • Processing payroll
  • Cost accounting
  • Preparation of the management accounts
  • Analysing and reporting on financial results
  • Cash flow management
  • Currency management

Financial planning & analysis (FP&A)

Where the typical managerial accountant mainly prepares and analyses past results, the FP&A analyst is more forward looking, so the typical tasks include:

  • Preparation of budgets
  • Financial forecasting including scenario planning, forecast P&L, Balance Sheet and Cash Flow statement
  • Variance analysis of actual results to forecasts
  • Financial analysis to improve forecasting

Strategic financial advisor

This person is more commonly known as the Finance Director or FD and is your business’ most trusted financial advisor. Your FD will analyse all financial aspects of the business and provide sound financial advice to your directors. Depending on the needs of your business, activities might include:

  • Attend board meetings and act as financial advisor on business matters
  • Incorporate analyses from the managerial accountant and FP&A analyst
  • Analyse financial aspects of business plans including new strategies, investments and due diligence on possible acquisitions
  • Take the lead over all departments on budget preparation
  • Manage relationships with financial stakeholders such as auditors, tax accountants, banks and other lenders.

Get in touch

Are you ready to see how we can help your business succeed and grow? Please get in touch so we can start the discussion.