Is Financial Admin for you?

Finances make up so much of our business but can also be one of the biggest sources of stress and anxiety. Between the time pressures and the need for accuracy, you may need a hand with…

Tax return prep

Receipts and invoices can be hard to handle, with money coming out everywhere! Trying to keep track of that paper trail can be overwhelming then when tax season comes along it’s always a rush to get everything handed in on time. A Financial Admin person can help make sure everything is neat, tidy and ready to go!

Budgets

If budgeting isn’t your thing, this kind of support worker can make reports, help create budgets and keep an eye on where the money is coming from and going to.

Wages

Having employees can feel like a huge responsibility making sure they are all happy, working productively and also (and maybe most importantly) paid. Having someone take that bit of work off your plate means you can pay more attention to all the other bits of being an employer.

We can help you find the right financial support worker for your business.

Here at Celebrate Difference, financial support tends to fall into two different categories: Financial Admin and Bookkeeping.

Let’s discuss the differences between Bookkeeping and Financial Admin and what YOU may need…

Bookkeeping

A bookkeeper is responsible for ensuring accuracy and organisation in your financial records all the little bits that keep you from focusing on your business. They keep track of all the day-to-day financial work, like receipts, organising the financial data and paying invoices and wages. What separates bookkeepers from a financial administrator is that bookkeepers can really get stuck in and handle your books and give financial advice as they have all the proper qualifications to do so.

To make sure we provide you with the best service, we have specific requirements for anyone wanting to onboard as a ‘Bookkeeper’ at Celebrate Difference. These requirements ensure efficient and accurate management of a client’s financial records.

These requirements include:

  • Relevant qualifications
  • Relevant experience 
  • Anti-money laundering training

Financial Admin

A financial administrator can help you with various financial tasks, such as organising documents, preparing reports or providing general financial advice, but they wouldn’t necessarily handle the detailed bookkeeping work for you. It’s a matter of whether you want someone to manage your books entirely or just provide support as you manage them yourself.

Essentially, a financial administrator makes sure the business’s financial side runs smoothly. They keep the records, make sure the audits and reports are submitted when needed and have a role in budgeting.

What can a financial administrator do for my business?

  • Create invoices
  • Chase invoices 
  • Debt collection
  • Send reminders 
  • Track purchases and expenses 

How to utilise and tailor financial support to suit YOU and your business

Having a professional support worker help with financial tasks (like a bookkeeper or financial administrator) can bring you peace of mind, reducing stress and overwhelm

It’s also not ‘all or nothing’! You could delegate any financial task of your choice, such as the most time-consuming tasks or tasks that bring a lot of stress, which frees up time and allows you to focus on other areas of your business as it continues to grow and shine. 

This form of support worker could help you streamline your financial processes, such as invoicing, expense tracking and payroll management increasing efficiency and reducing room for errors.

You could also work with a financial administrator to organise financial documentation in a way that works best for you. For example, if you’re a person who likes visual cues to help you stay on task, visual aids like colour-coded folders and charts could be implemented.

By utilising financial support tailored to your needs, you can effectively manage your finances and focus on growing your business.

If you’re a current client and would like to chat with us about finding a financial support worker that suits you and your business needs, please reach out to our team at:

help@celebratedifference.co.uk

For more info on our Access to Work Support Services or how to get in touch, please read our Access to Work blog here.