Our Servcies
Here's What We Do
At CommonCents, we provide a comprehensive range of services from basic bookkeeping and HR solutions to setting up new businesses and project management.
We can help businesses set up and/or manage their financials, create and/or improve internal processes, and implement systems that enhance overall performance. We also specialise in overall review of the business to identify any weaknesses.
Day-to-Day Bookkeeping
This typically includes recording daily transactions, such as sales, purchases, receipts, and payments. It ensures that all financial data is kept accurate and current.
Month-End Accounts
At the end of each month, this service would include closing the books, reconciling accounts, and preparing financial statements, such as profit and loss reports and balance sheets.
HR Support
- Payroll: Ensuring employees are paid accurately and on time, including calculating wages, deductions and payroll liabilities.
- Pension Administration: Managing employees’ pension schemes, including contributions, records, and compliance.
- Health Insurance Administration: Overseeing employees’ health insurance, from enrolment to claims.
Catch-Up Accounts
This service is for businesses whose bookkeeping has fallen behind. Catching up on backlogged accounts and bringing them up to date, ensuring compliance and accuracy.
Software Implementation
Helping businesses choose, implement, and integrate accounting or HR software to streamline operations.
Process Implementation
Establishing standard operating procedures for various business functions, such as bookkeeping or HR, ensuring that processes are efficient and compliant with regulations.
Assistance in Setting Up a Business
- Build/Fit Out: If relevant, assisting with the physical setup or renovation of office or business spaces.
- Licensing: Ensuring the business obtains all necessary licenses and permits.
- Accounts Setup & Software Implementation: Setting up accounting systems and software tailored to the business’ needs.
- HR Administration: Establishing HR processes from the ground up, including recruitment, employee records, and benefits management.
- Systems and Procedures Design, Documentation, and Implementation: Creating the framework for internal systems and processes, ensuring they are documented and put into practice.
Financial and Operational Review
- Comprehensive Financial Analysis
- Review of Financial Statements: Examine the business’ balance sheet, profit and loss, and cash flow statements to assess financial health and identify any potential issues (e.g., cash flow problems, unprofitable areas).
- Cost Analysis: Break down operating expenses to determine if any areas are unnecessarily draining resources and where cuts or better cost control measures can be applied.
- Revenue Streams Assessment: Analyse current revenue streams to identify opportunities for increasing income.
- Operational Process Review
- Employee Roles and Responsibilities: Meet with employees across different departments to understand their daily tasks, pain points, and bottlenecks.
- Workflow and Procedure Mapping: Analyse existing processes for managing work and projects. Are they optimised?
- Technology Assessment: Evaluate current software tools, systems, and technologies being used.
- Identifying Opportunities for Efficiency
- Automation and Software Solutions: Recommend areas where automation could save time.
- Outsourcing Opportunities: Identify functions that could be outsourced to reduce costs.
- Process Streamlining: Suggest ways to simplify or optimise workflows.
