Accounting and Financial Records
Bookkeeping, taxes, payroll, management accounting and accounting recovery. This area works with the center of the EMET model: numbers you can trust.
Common requests:Reporting closes late, Management and accounting figures differ, The company learns about its tax burden when it's time to pay, Payroll and contractor payments are calculated by hand
Services in this area
6 services
01Accounting and Financial Records · 01
Bookkeeping Services
An agreed scope of accounting tasks alongside your accountant or in place of part of their work: documents, transactions, reconciliations, control.
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02Accounting and Financial Records · 02
Accounting Outsourcing
The whole accounting function is handed over to EMET or a partner: calendar, documents, reconciliations, reporting and a single point of contact.
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03Accounting and Financial Records · 03
Tax Accounting and Reporting
A calendar of tax obligations, document checks and reports prepared ahead of the deadline. No tax schemes.
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04Accounting and Financial Records · 04
Payroll
Calculating and controlling pay: a period-close calendar, checking changes, restricted access to data and a history of adjustments.
Learn more05Accounting and Financial Records · 05
Management Accounting
Reports for the owner's decisions: cash flow 13 weeks ahead, profit by business line, a balance of obligations. You can start with three reports.
Learn more06Accounting and Financial Records · 06
Accounting Recovery
An inventory of documents and periods, corrections in order of risk and the handover of the recovered accounts to regular bookkeeping.
Learn moreWhat people come with
Does this sound familiar?
- Reporting closes late, and the numbers have to be clarified.Situation 01Bookkeeping answers to the state. Management accounting answers to your decisions.
- Management and accounting figures differ, and it's unclear which to trust.Situation 02Bookkeeping answers to the state. Management accounting answers to your decisions.
- The company learns about its tax burden when it's time to pay.Situation 03Bookkeeping answers to the state. Management accounting answers to your decisions.
- Payroll and contractor payments are calculated by hand.Situation 04Bookkeeping answers to the state. Management accounting answers to your decisions.
The core idea of this area
Bookkeeping answers to the state. Management accounting answers to your decisions.
The self-assessment for this area separates the two kinds of accounting, statutory and management, and shows which one lacks the reliability you need for decisions.
- 01Reliable records
- 02Tax and legal risk
- 03Cash cycle
- 04Management data
- 05Unit economics
How we see it
If the numbers can't be trusted, every other decision is made blind, which is why records are at the center of our model. Two kinds of accuracy are needed here.
Bookkeeping needs correctness in the eyes of inspectors. Management accounting needs speed and comparability: an approximate report in three days is more useful than an exact one in six weeks.
When this area won't help
- We don't offer tax schemes and don't reduce taxes by getting around the law.
- We don't substitute bookkeeping for management accounting: they have different jobs.
- We don't sign off on documents whose accuracy couldn't be confirmed. If the documents are in disorder, we restore the accounting first.
Who does the work
Some of the work is done by EMET, some by partner accounting firms. Who is responsible for what is fixed before the work starts.
Questions
Why separate statutory and management accounting?
They answer different questions for different audiences. Trying to draw management conclusions from statutory data gives a late and distorted picture.
How can you tell accounting is set up badly?
Closing the month requires manual reconciliations, and the number changes after a "second look". The margin of a specific product can't be named without a separate calculation. One person prepares the report, and without them there is no report.
Can accounting be fully automated?
Most of it can. Not all of it: non-standard transactions require judgment. Automation here frees up time for those cases.
Can we start with recovery and then move to outsourcing?
Yes, that happens often: recovery becomes the preparation for regular support.
Related articles and case analyses
Two sets of books: why an owner needs both
Financial accounting answers to the government. Management accounting answers to you. Trying to get the second from the first is behind most wrong decisions about money.
How many days after the end of the month do you see its result?
If the answer is more than a week, that's where to start. The first meeting is free.