Are you looking for that little bit extra from your accountant?
We offer something different from the traditional Accountancy Practices.
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Would you like an accountant that cared about your business' success as much as you do?
ADM Accountancy Services Ltd is a Chartered Management Accountants based in Bishop's Cleeve, Cheltenham. We support clients' businesses throughout Cheltenham and the surrounding areas, including Tewkesbury, Gloucester, Stroud and Evesham.
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We offer more to our clients than traditional accountancy practices.
Xero Services
Xero is a cloud-based platform which means you can access your accounts from any location, on any device, and your accountant can too! If you're working remotely, Xero offers the perfect solution to keep on top of your accounts and view stats in real-time.
As a Xero Gold Partner, we can train and advise you on Xero and how it can streamline your business accounting. If you need advice transferring your accounts to Xero, we can help get you up and running!
Our Services
ADM Accountancy offer a broad range of accountancy services to suit small and medium-sized businesses and professional services contractors. From start-ups to established companies looking to expand, we can help your business to reach its full potential.
Client Case Studies
Our client base covers a wide spectrum of small to medium-sized businesses. We also support successful Professional Services Contractors working in a variety of industries, such as IT, Creative and Marketing. Read more about some of the clients we work for below.
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Our Blog
At ADM, we like to offer something more, read our latest updates below.
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Bookkeeping is essential for tracking and understanding your business's financial performance. It helps you better understand where your money is coming from and where it’s going, and empowers you to make informed decisions that will help your business succeed. It also helps you stay compliant with tax laws, manage budgets, and make better decisions about how to allocate resources. Let's take a deeper dive into how bookkeeping can be beneficial for your business. 1. Better budgeting Bookkeeping can help you create and manage accurate budgets. It allows you to assess how much money is coming in from customers, expenses, and other sources, and gives you a better understanding of where your business stands financially. With this information, you can create more effective budget plans that will help you jettison your business to success. 2. Accurate financial reports Bookkeeping allows you to easily generate accurate financial reports that give you a better understanding of your business’s financial performance. This information can then be used to make more informed decisions about how to allocate resources, spot financial trends, and identify areas where you can save money. 3. Tax compliance and savings Bookkeeping helps you ensure that you are in compliance with tax laws by providing accurate financial information. This allows you to avoid costly mistakes and potential penalties from the IRS and other regulatory agencies. Additionally, bookkeeping can help you save money by enabling you to take advantage of deductions and other tax benefits that apply to your specific business. 4. Cash flow management Bookkeeping also helps you manage your cash flow more effectively. With accurate records of expenses and income, you can better plan for cash flow needs and avoid potential problems such as overdrafts or insufficient funds. This will help you make sure that your business has the money it needs to succeed. 5. Confidence One key benefit of bookkeeping is that it can give you peace of mind. Knowing exactly where your business stands financially will give you the confidence to take risks and make decisions that will help your business grow and succeed. 6. Setting targets and goals It's difficult to set specific goals when you have no idea what your numbers are, but bookkeeping can help you identify your current financial performance and help you come up with realistic targets to strive towards. You'll also be able to accurately measure your progress along the way because you'll have the data you need to track your progress. 7. Organised records Unorganised records are a ticking time bomb. Bookkeeping helps your business by keeping records organised and up to date, enabling you to quickly access the financial information you need when you need it. This makes it easier to answer questions, identify trends, and make decisions that will help your business succeed. If you let your records become too chaotic, you can be sure that your business won't reach its potential. That's why bookkeeping is so essential to the success of any business. With accurate and up-to-date financial information, you'll be able to make better decisions and take advantage of every opportunity that comes your way. As you can see, bookkeeping is an essential component of a successful business. It can help you stay compliant, manage budgets, and make better decisions. With accurate financial records, you'll be able to take your business to the next level. If you need help getting your bookkeeping in order, consider working with a professional bookkeeper or accountant to ensure accuracy and consistent record-keeping. With the right help and strategies in place, you can be sure that your business will be on its way to success. Contact ADM Accountancy for all your bookkeeping requirements on 01242 679767 or visit admaccountancy.co.uk
Increasing sales volume is a significant profit driver for businesses, but it’s not the only way to earn more profit. Furthermore, increasing sales isn’t always a manageable strategy for small business owners and entrepreneurs who are just getting started, since it often requires a large inventory and hiring more staff. Let’s take a look at how you can boost your profits without selling more. What is profit margin? Your profit margin is the percentage of your turnover that you actually get to keep; it’s the margin by which your sales exceed your costs. So if you sell £1,000 and spend £600, your profit is £400, making your profit margin 40%. Bear in mind that average profit margins vary widely across industries and business models. Low profits Low profits are bad news because they make it difficult to invest in growth and protect your company during difficult times. There are many factors that can cause low profits including: Low sales High operating costs Poor inventory management Low customer retention rate Many business owners believe that selling more is the answer to the problem of low profits, but that’s not always true. There are several more efficient ways that can help you increase your profit margins and make more money without increasing your sales volume. Negotiate with suppliers Negotiating with suppliers can help you to reduce your expenses and thus create bigger profit margins. Shop around and speak to your suppliers about the possibility of bulk discounts or early payment incentives. Monitor inventory As mentioned, poor inventory management often plays a role in low profits. If you overstock on a product that doesn’t sell fast, you may lose money over time due to depreciation, expiration and misplacement. Increase prices Raising your prices is a straightforward way of increasing your profit margins. Underpricing your products in order to drive sales reduces your margins and makes it more difficult to cover your costs. Competing on price works well for big businesses because they can afford to focus on sales volume rather than high margins, but many small businesses will achieve greater success by focusing on quality, convenience and excellent service. Eliminate unprofitable items It’s important to understand the gross profit that you make from a particular product or service. If an item is making you very little in terms of profit then it may be worth getting rid of it so that you can replace it with something more profitable, or simply streamline your selection for simpler inventory management. Of course, you must weigh up profitability against sales volume. If you sell a very large volume of a product with a fairly low margin, it still may be worth keeping it. Get rid of slow-selling items Conversely, products and services with a very high gross profit margin are only actually profitable if they sell. Otherwise, they’re simply bulking up your inventory and tying up your assets. Reducing your supplies is an effective way of keeping your operating costs low and maximising your margins. Systemise Systemising your business will help you operate at maximum efficiency and thus reduce your costs. This means putting clearly defined processes in place and using technology to automate many menial tasks to save time. Essentially, it means having your business run like a well-oiled machine rather than a slow, spluttering engine. There are multiple ways to boost your profits without increasing sales, and many of these strategies may be better suited to the needs of a small business. Remember that it’s not about the money you make, it’s about the money you get to keep. ADM Accountancy specialises in supporting small businesses and SMEs within the Professional Services sector, with all their accountancy needs. Call us today on 01242 679767.
Keeping your small business financially sound is one of the most difficult - and important - aspects of running a successful company. When something is amiss with your financial management, it can quickly spiral out of control and threaten the very existence of your business. We've put together a list of the most basic steps you need to take to ensure that your small business stays on track financially. Of course, seeking expert advice is always recommended, but these tips will help you get started in the right direction. 1) Track Your Expenses Carefully This should go without saying, but it's important to keep a close eye on your expenses. In fact, you need your records to be impeccable. Many small business owners make the mistake of letting their spending get out of control, without realizing how much it is actually impacting their bottom line. Create a budget and stick to it as closely as possible. You should know exactly what you're spending and why. This will enable you to understand which costs are generating a sufficient return and where you may be able to cut costs. 2) Keep Your Personal and Business Finances Separate One of the biggest financial mistakes you can make is commingling your personal and business finances. Not only does this make it much more difficult to track your expenses, but it can also lead to serious legal problems down the road. If you want to keep your small business financially sound, it's crucial that you maintain a clear separation between your personal and business finances. 3) Manage Your Taxes Properly (from Day One) Another mistake that many small business owners make is failing to properly manage their taxes. This can be a complicated process, but it's important to ensure that you're paying all of the taxes you owe and taking advantage of any deductions or credits you're entitled to. Failing to properly manage your taxes can lead to significant problems down the road, so it's important to get this right from the start. 4) Put a Solid Invoicing System in Place Late payments and unpaid invoices are one of the biggest financial problems faced by small businesses. If you want to ensure that your small business is financially sound, you need to put a solid invoicing system in place. This should include sending invoices out in a timely manner and following up with clients who are late in paying. You may also want to consider using software that can help you automatically send reminders and track payments. This is especially useful if you need to send a large volume of invoices each month. 5) Build a Healthy Cash Reserve One of the best ways to ensure that your small business is financially sound is to build up a healthy cash reserve. Now, this is certainly easier said than done, but it's important to have a buffer of cash on hand in case of unexpected expenses or slow periods. Ideally, you should aim to have enough cash to cover 3-6 months of operating expenses. This will ensure that you're prepared for anything that comes your way. Of course, these are just a few of the most important steps you need to take to ensure that your small business is financially sound. For more detailed advice, be sure to seek out the help of a qualified accountant or financial advisor. Speak to one of the team at ADM Accountancy on 01242 679767 , who would be happy to help.
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Head office
Unit 10, Homelands Commercial Centre
Vale Road
Bishop's Cleeve
Cheltenham
Gloucestershire
GL52 8PX
Registered in England and Wales. Registration Number: 06912489