Existing Businesses

How We Do It - For Existing Businesses


We conduct an initial assessment of your accounting department to identify areas needing improvement in terms of efficiency, maximum collection of key data, legal compliance, and risk exposure. We produce a revised list of tasks and personnel areas of responsibility to improve performance, set dates for performance targets and project completion, and load your data into widely available software customised to your requirements.We then train your staff on-site in this new system using the fundamental elements of professional accounting and legal compliance. We use their actual everyday procedures and clear instructional materials, and conduct assessments of training success on a set schedule. After the training period, we remain available for both on-site and remote support including designing modifications to procedures and cumulative management reports.



  • GLT assess the way the accounts department currently works with the business
  • We work with the accounts and/or management team to identify/design
    • Ways to simplify & speed up existing process
    • New processes to ensure important data is properly gathered
    • Safeguards to protect from error, omission and theft/fraud
    • Reports and key metrics that matter to your business
    • Solutions to tax compliance issues, reporting requirements& potential pitfalls


  • Implementation Plan
    • Identify individual tasks needed to get the accounting area properly functioning
    • Assign areas of responsibility (we like to delegate as many of the tasks to our clients as they feel comfortable with)
    • Set completion dates for each task and the overall project
  • Accounting Software
    • We generally select off-the-shelf accounting software (cheaper and more cost-effective than commissioning software designs specifically for your business)
    • Upload all data relating to customers/suppliers/products/fixed assets, including default data such as tax codes, cost area, sales pricing, regions plus many other categories if required
    • Customise the newly installed accounting software to suit your business activities
      • Invoices/Purchase Orders/Statements/Payments remittance template
      • Design reports that highlight important results
      • Setup an accounts structure to suit your business
  • Provide any additional software needed
    • Forecasting& budgeting
    • Offsite purchase orders
    • Managing time sheets & staff expenses
    • Electronic payment and receipt systems


  • Training
    • Documented Guidelines
      • Step-by-step manual on how to complete each task
      • Workflow to show the order in which to complete each task
      • Document on financial policies & procedures
  • Initial on-site training
    • Working through practical daily and weekly accounting tasks
  • Control Checks
    • Data validation checks
    • Check list for month and year end
  • VAT& Taxation
    • Review VAT rates on products/services
    • Dealing with EU & non-EU imports/exports
    • Tax compliance with PAYE (including travel & subsistence)/RCT/RTD/VIES/Intrastat (procedures for quick and accurate generation of these tax returns)
    • Guidelines on checking for potential tax errors& omissions
  • Accounting terms & calculations
    • Calculating gross margin
    • Basics of debits & credits
    • Keeping a record of each fixed asset & monthly depreciation calculations
    • Preparing & posting accruals & prepayments
    • Calculating stock & work in progress
    • Dealing with foreign exchange
    • Dealing with hire Purchase/Finance Leases & Loans (capital repayments and interest calculations)
    • Structuring a profit & loss account and balance sheet


  • Support
    • Help with understanding & processing difficult business transactions
    • Ongoing data validation monitoring
    • Tax compliance checks
    • Updates on any potential cost savings & tax relief available
    • Designing sales & costs reports which provide detailed insights to business performance.
  • Management Accounts
    • Designing monthly or quarterly management accounts
    • Help with cashflow management
    • Help with understanding reports and business trends
    • Help with setting budgets/targets/staff rewards

Start Now Button