The needs of businesses are constantly changing and professional services, including accountants, must evolve to meet the demands of their clients. This does not just mean changes in the services that we provide, but also how we deliver those services.
We established FoxKash, an independent bookkeeping service, as a response to the rise of cloud accounting and the introduction of Making Tax Digital. Cloud accounting has more to offer than just electronic tax returns. It gives us real-time information about your business, which leads to better decision making.
Helen Spokes of FoxKash tells how the business has developed.
When did FoxKash start?
Helen Spokes (HS): July 2017.
Has FoxKash grown?
(HS): Undoubtedly yes! We started with one member of staff and now have 4 team members and counting as we plan to recruit an additional staff member over the next few months. Our client numbers have increased by over 600%!
What are the most important aspects of FoxKash?
(HS): For the clients: FoxKash gives peace of mind because we work hand in hand with Foxley Kingham and GKP. So, all the year-end, tax, payroll or interim financial events are handled seamlessly, resulting in one less demand on a busy client. They no longer have to be the middle-man in the data transfer between accountant and bookkeeper. For Foxley Kingham and GKP: FoxKash allows the firms to offer clients an additional service at a very competitive price, safe in the knowledge that the services provided by FoxKash will be carried out to the highest standard. We also provide Foxley Kingham and GKP with an up-to-date and quality set of ‘books’ ready for their statutory, management or ad-hoc reporting services.
For FoxKash: we help our clients successfully handle the Making Tax Digital compliance requirement as effortlessly as possible.
What are your plans for the future?
(HS): Our main initial future aim is to help Foxley Kingham’s and GKP’s clients through the next Making Tax Digital compliance phase which comes in to force in Apr 21. This is a bigger and potentially harder journey than the first part of Making Tax Digital because more businesses are affected, and a significant number of those businesses do not currently use accounting software. Therefore, this will be a large step in terms of education and compliance. We will work with our clients who need our book-keeping services, but we will also work with clients who need guidance and training if they decide to complete their own book-keeping. Our future aim is to extend our bookkeeping services to ‘new’ clients and grow our business as an independent book-keeping firm in its own right.