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Virtual Finance Function For Construction Businesses
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Virtual Finance Function For Construction Businesses

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Virtual Finance Function For Construction Businesses

The accounting space is rapidly changing and the need for construction businesses to have a strong finance function is growing every day. Every time your business expands the need to have the right team around you becomes more and more important. You will start to see things fall over once you don’t give something your full attention - this could be admin, invoicing, chasing payments, software or even managing your team.

At Saint Financial Group we help businesses with our all in one solution covering everything Admin, Media and Accountancy plus everything in between. Having experience within the construction industry separates us from any other accountant as we understand the day to day challenges you face and how indulged you can get within your work, everything else becomes a 2nd priority.

Saint Financial Group - Specialist Construction Accountants

Saint Financial Group is here to support your business and provide the right solutions for you to move your business in the right direction. A solution we believe every construction business needs is a virtual finance function handling bookkeeping, payroll, credit control, vat returns, end of year compliance, profitability, forecasting, management accounts and a virtual financial director to support your business!

Saint Accountants integrate perfectly into the saint solution this could mean working closely with your SaintVA to ensure a smooth business operation or supporting Saint Global in advising on expenditure for your advertising or even with your Business Development Manager from Saint to get the most out of your coaching sessions!

Saint Financial Group is technology focused as it has allowed us to work with clients across the UK and now we are supporting construction businesses to turn digital allowing you access to your financial information no matter where you are and having the systems in place ready to grow your business with stability. We don’t just stop at the financials, we want to provide the right solution throughout your business to ensure you’re scalable and not dependent on you being there for the business to continue working. You should have the option to take a few days off and your business to still be ticking away - with Saint you can do this!

Why Should You Use Saint Financial Group As Your Construction Accountant?

Saint Financial Group is a secret tool for construction businesses. We specialise within the construction industry providing an all in one solution to develop, stabilise and grow your construction firm with Saint by your side.

With over 35 years of experience in supporting the construction trade, we have virtually seen everything you could be going through. We work with you to understand exactly what you need in order to excel by holding an extensive range of solutions to run and manage your business.

Saint works with you in supporting and growing your business ensuring that you’re not juggling everything at once. Things become simpler when you’re a Saint.

How Can Saint Financial Group Help My Construction Business?

At Saint Financial Group our team is experienced in running businesses through change and monitoring the financial impacts it can have on your business plus we are specialists within the construction industry! Saint act as your partner in your business to support you in the important decisions you have to make as a business owner, help you manage your finances and improve your profitability.

We appreciate that the finance function might not be your ideal area, managing your accounts, costs, VAT, taxes and cashflow can be a consistent challenge that needs to be faced. This is where our Virtual Finance Function solution can be implemented to take this worry off your mind.

What’s Included Within A Construction Virtual Finance Function?

The names of services we provide may sound similar however the way we present them is completely different. We understand the challenges the construction industry is faced as we have personally faced them ourselves and now, from our experience we are giving you the solutions to overcome your challenges.

To see the complete solution Saint Financial Group offers to construction businesses click here.

A Construction Virtual Finance Function is having your finance side of your business handled by a professional construction accountants. The services we provide within the Virtual Finance Function are:

  • Bookkeeping

Bookkeeping is the foundation of your construction business. If you want to have financial insights and to know what is happening within your business you need your bookkeeping done as often as possible. We can take care of your bookkeeping tasks and provide a free report on the health score of your account.

  • Payment runs

We understand that making payments can be a time consuming task… Our simple solution means we prepare the payment run for the week/month for you and when you click pay now this is transferred to your bank with all the payments set up waiting for your approval resulting in massive time savings!

  • VAT

We work with you to help you maximise your claims and ensure you have sufficient evidence to if HMRC came knocking! Saint check for any errors or inaccuracies and advise you on how you can minimise your payments to HMRC. On average we help our clients claim 30% extra in VAT back!

  • Construction Industry Scheme (CIS)

Construction is our speciality so we are up to date with the relevant legislation and guidance set out by HMRC to help keep you compliant. We know the challenges faced when dealing with subcontractors and the upcoming challenges of IR35… have Saint by your side.

  • Payroll

Payroll can often go from simple to complex in seconds. Complex payruns with allowances to auto enrolment and pensions, our payroll specialists can advise and assist your construction business in the regulatory requirements.

  • Credit Control

Chasing payments in the construction industry seems like a given… We save our clients 16 days a year in chasing payments! Get a complete credit control procedure in place from reminders to experienced business managers chasing your clients in the right order.

  • Annual year end accounts

All your hard work throughout the year, we help minimise the amount of corporation tax you have to pay to keep as much of your hard earned money for yourself and advise on ways throughout the year to help before your year end instead of after!

  • Tax Reviews, planning and advice

Business owners are so focused on working on their business and building the value in their business, they often forget to build, plan, structure and protect their wealth they have created! We work with you to provide clear tax planning strategies, to make you tax efficient as you can be and to help retain your wealth.

What Does A Construction Virtual Finance Function Do For My Business?

A construction virtual function is a solution to your bookkeeping, accountancy, taxation and management challenges. You can get access to a full finance function at a fraction of the cost.

Here’s the benefits of having a Virtual Finance Function:

  • Construction specialised accountancy team who want to see you grow and minimise your tax bills
  • Monitoring cash levels ensuring there's enough to fund projects
  • Supporting construction businesses make the right decision helping reduce your financial risk
  • Saving time and money on recruiting a finance team
  • Financial insights and advice to help you look forward 
  • Monitoring business performance, looking ahead for any challenges ensuring your finances keep up with your goals
  • Identify areas in your business that are profitable or potential losing money
  • Finance and Xero experts who know the construction industry 
  • Business Development Manager to support you strategically and provide clear roadmap for your business

If you have questions regarding the services we offer or would like some advice on your business, call Saint today on 020 8187 4201 or complete our short contact form here.

Frequently asked questions

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This article has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business or before taking action in relation to any of the provided content.

PS. Whenever you are ready, here's how to grow your construction business...

1. Join our Facebook Group which built completely for businesses within the construction industry. Real people, real support. - Now also available on LinkedIn.

2. Keep up to date with Construction Insider Providing you with industry insight, tips & tricks and much more to make sure you are ahead of your competitors!

3. When you are ready, Become a Saint Financial Group client, and we will provide you with the highest quality solutions to effectively scale your construction business. Book your meeting here!

Virtual Finance Function For Construction Businesses

Written by the team at:

Saint Accountants

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