FD Works become Bristol Media Preferred Supplier
Are you charging enough for your services? Check out this hourly rate calculator from our latest Preferred Supplier, FD Works. Ready to help with all your number crunching needs, Jonathan Gaunt and the team take care of the figures while you get back to your day job.
About FD Works
FD Works are a team of highly experienced management accountants who collaborate with clients to sort their finances, a kind of surrogate FD. They are focussed on the creative industries so their services are tailored to the nuances of busy agency life.
They can help with everything from the standard accountancy procedures such as invoicing and tax returns to helping you work out a profitable hourly rate and how to manage the peaks and troughs of agency capacity. Not to mention helping you plan an exit strategy for when the major global players are knocking at your door to snap up the award-winning agency you’ve built!
They are firm believers in using the latest technologies to help you manage your finances, such as smart internet based software Xero. A million miles away from the complicated agency database of old feared by many, it’s a simple, easy-to-use system from the off. Think auto sync to your bank account to save you wading through statements, and time saving add-ons you’ll love such as Receipt Bank. Want to claim the client lunch you’ve just had on expenses? No problem, take a picture of the receipt on your iPhone and it uploads automatically to Xero.
If you’d like to know more – visit the FD Works website or call Jonathan Gaunt on 01454 300 999
How FDWorks helped online newspaper The Day
“We needed more than just accountancy. We needed creative, entrepreneurial thinking, people skills and all the strategic judgement of a Finance Director without the costs. We are super-happy with Jonny Gaunt and the FD Works team and see them as part of The Day long term.” Richard Addis, Managing Director and Editor in Chief
‘The Day’ was created by Richard Addis in 2011. Richard - a former editor of the Daily Express and Financial Times - had the vision of creating a daily online newspaper for teenagers that focused on the big issues that are transforming the world.
Having developed a successful platform of producing news stories and establishing a customer base The Day needed to ‘grow up’ financially.
All in a day’s work
FD Works formed a strong working relationship with The Day, getting up to speed with their current way of working and the challenges they faced quickly. By phasing in our financial involvement we were able to instil confidence in our abilities and build a good working partnership. Controls were improved instantly and reporting transformed by migrating financial records from various spreadsheets, notes and records in people’s heads to Xero. Next, we integrated Xero with Salesforce and PayPal, and then we streamlined the process further by using Debtor Daddy to automate their credit control.
Working together, we developed a robust financial plan, providing the investors with renewed confidence and enabling additional funds to be secured with EIS status. Budgets are now reported against on a monthly basis and future cash flow modelled to ensure business objectives are achieved.
FD Works is now a fully established part of The Day’s management team and continues to provide ongoing monthly support.