TurnKey Case Study
Timothy Roe Fine Jewellery
What is TurnKey?
Turnkey is where On Cloud 9 Accounting takes over all the finance department functions from day to day bookkeeping to being a virtual Finance Director for the Company.
Client: Timothy Roe Fine Jewellery
In 2016 Timothy Roe Fine Jewellery approached us to take over their Accounts due to the current provider not adding value to the business or responding to our questions.
Following discussions, they were amenable to a step-by-step approach of becoming their Finance Department. Initially, Bookkeeping, Accounts Payable, and Receivables was passed over, followed quickly by Payroll, all the core functionality of the Day to Day running of the business. This freed up one headcount within the company, Management time and reliance on the Accountants for support.
Next was Credit Control, the money they were owed dramatically went down, and now suppliers pay on time every time as they are managed and had a relationship with the finance function. This was function management had to do before causing friction with the customer relationship.
Finally, Management Account and forecasting, monthly performance reports against budget and cash forecasts were produced, enabling the management to know where they were and what would happen; real-time decisions could then be made.
Also, the Year-End Financial Accounts and Corporation Tax returns to keep HMRC happy.
In the Clients Words:
"Finding Craig, Daniel and Debbie and the whole team at OC9 have been nothing short of a miracle for our business. Since we started working with OC9 in 2016, accounting has become a breeze for us - with assistance and setup of online cloud.
Accounting, banking, reconciliation, VAT, corporation tax, payroll, and everything in-between - OC9 is a partner we could not be without.
They know our business inside out and are always on-hand to answer any queries with their expert knowledge. Every aspect of accounting is covered under one roof with a friendly and helpful team. We could not imagine working with anyone else - they are efficient, dependable, honest, trustworthy, friendly, and human to boot! (Unlike some of the more robotic stuffy old school accounting firms out there - these guys have a heart!). Recommended to any company who would like to make the financial side of their business a walk in the park. If you are reading this, that includes you - so make a good decision for your business and pick up the phone or send them a message today".
Turnkey enables you to free up resources and gain the power of more tools to run your business!