Reporting arrives too late
You need consistent monthly numbers and explanations while there is still time to act, rather than a retrospective spreadsheet exercise.
Consult EFC · UK businesses · Sector agnostic
Monthly accounting, reconciliations, reporting and finance coordination, with an agreed owner for the work and a clear view of what happens next.
When the current process needs more
Your business may have a bookkeeper, an external accountant and several people approving costs, yet still lack a dependable monthly finance process. Bank balances are available, but reconciliations, margins and management reports arrive late. The owner becomes the person chasing every answer.
Consult EFC can take responsibility for an agreed finance workstream, coordinate the information and build a repeatable reporting rhythm. Engagements are led by Kishen Patel ACA, founder of Consult EFC, with Big Four audit, investment banking and corporate advisory experience.
You need consistent monthly numbers and explanations while there is still time to act, rather than a retrospective spreadsheet exercise.
Close tasks, reconciliations and reporting depend on people already stretched by payments, sales administration or operational work.
Information moves between a bookkeeper, accountant, management and advisers without a clear schedule, review trail or accountable coordinator.
Agree the outputs before the work
An agreed close checklist, transaction cut-off approach, journals and supporting schedules within the engagement scope. Unresolved items stay visible with owners and next steps.
Supporting schedules for the agreed bank, receivable, payable, payroll, tax, fixed-asset or other balances. Investigate differences and record the review required.
A monthly performance pack using relevant profit and loss, balance sheet and cash information. Explain material movements and distinguish actual results from forecasts.
Visibility over collections, payment commitments and near-term cash priorities. A detailed weekly forecast can be added where it is required and scoped.
Clear responsibilities for providing data, approving journals, resolving queries and reviewing outputs, including handovers with existing providers.
A documented reporting calendar, file structure, process notes and agreed access. Identify the information and responsibilities needed if the engagement changes.
Make the work visible
The sequence below illustrates a finance operating cycle. The timetable depends on your records, systems and team capacity.
Gather agreed records and check that the reporting period is complete.
Prepare schedules, resolve differences and flag outstanding items.
Explain performance, cash and the movements that matter to management.
Agree decisions, owners and the next information or process improvement.
Clear work. Clear responsibilities.
The service should fit the work you need performed. We establish the entities, systems, transaction volumes, reporting requirements, record condition and people involved before proposing the scope. Initial clean-up may be a separate project from ongoing monthly delivery.
Some clients need hands-on accounting and reporting capacity. Others retain their bookkeeper and statutory accountant and need someone to coordinate the close, review the management information and explain the numbers. We agree that division explicitly rather than assume every finance activity transfers to Consult EFC.
| Workstream | Possible Consult EFC role | Client or other provider role |
|---|---|---|
| Monthly reporting | Prepare or review the agreed management pack and schedules. | Supply complete records and approve management judgements. |
| Bookkeeping and transaction processing | Perform agreed tasks or coordinate with the existing provider. | Retain responsibilities not transferred in the engagement. |
| Payments and approvals | Prepare information and support agreed controls. | Retain authorised payment approval and banking responsibilities. |
| VAT, payroll, annual accounts and tax | Coordinate records and handovers where included. | Keep the appointed compliance providers unless separately agreed. |
| Senior financial leadership | Identify issues and refer to an agreed FD or CFO scope. | Make business decisions and retain director responsibilities. |
You receive an agreed service, not an assumption that every filing, payroll run or tax question is included. The proposal identifies the outputs, review arrangements, access, exclusions and fees, including VAT treatment and how additional work is approved.
Built around the way you operate
The service is sector agnostic. The examples below show how a brief can be tailored; acceptance and any specialist input depend on your business, reporting requirements and complexity.
Track project margins, utilisation, unbilled work, debtor ageing and the difference between work performed, invoiced and collected.
From initial brief to useful outputs
Map current providers, records, systems, deadlines and responsibilities. Identify urgent cash or record issues.
Agree access, opening reconciliations, reporting formats and the initial clean-up required.
Deliver the accounting and reporting tasks, maintain an issue log and hold the agreed review.
Assess recurring delays and gaps, update the process and agree changes as the business evolves.
A useful first conversation
For an initial discussion, describe your business, approximate transaction volume, finance team, accounting system, number of entities and the reports you need. Explain current delays and your next important deadline. Detailed records can follow through an agreed sharing process.
We can work with your existing software where suitable. Any system migration, implementation, payment authority or additional access needs its own agreed scope and controls.
Your questions, answered
It is an agreed set of finance activities delivered with external support, such as monthly accounting, reconciliations, reporting and process coordination. The scope specifies what is performed, reviewed and retained by the client or other providers.
Yes. We can agree the handovers, records, responsibilities and reporting timetable with your current team and providers. Replacing an existing accountant is not a prerequisite.
Only where expressly agreed. We identify the tasks you need, who will perform them and the required expertise and systems. Existing compliance arrangements can remain in place.
Payment preparation and approval responsibilities must be agreed separately. Management retains its responsibilities and banking authorities; outsourcing reporting does not automatically transfer payment control.
We can discuss a defined clean-up project. Record condition, missing information and the work required determine the scope, fee and practical timetable.
Yes. The service is sector agnostic. We assess your business model, entities, systems, reporting requirements and any specialist needs before accepting a scope.
Fees depend on the tasks, volume, complexity, reporting depth, record condition and review cadence. We agree the scope, fee, VAT treatment and additional-work process before starting.
The outsourced finance function focuses on delivering an agreed accounting and reporting process. A fractional CFO provides senior financial leadership around decisions, planning and stakeholders. The services can work together with defined responsibilities.
Tell us where the monthly process is getting stuck. We will discuss the work, responsibilities and fee.
Please describe the requirement in your enquiry. Confidential records can follow through an agreed sharing process.