We have worked with leading online retailers in the UK that provide unique products locally and worldwide via wholesale to shops, online stores, and individual consumers.
Menzies’ strategic approach
Through close collaboration, a structured approach, and a clear understanding of the client’s objectives, we can help deliver key solutions to address the challenges facing retailers.
1. We can help clients keep their accounting records up to date, significantly reducing time spent on financial tasks that are done manually, such as updating Excel documents.
2. We can support clients with their Customs Declaration Service, C79 certificate, and Postponed Import VAT Accounting (PIVA) to streamline their VAT returns.
3. We can assist clients with the reconciliation of their accounts, such as PayPal and bank accounts, to ensure their balance sheets accurately reflected their financial activity.
4. We can provide support to ensure clients manage and track their business performance and cashflow forecasting, such as creating monthly management reports.
5. As part of our ongoing strategy to help improve our clients’ systems and processes, our Systems Advisory team can discuss the best solutions to transition to cloud-based inventory management software.
Additional support provided to retail clients
Our joined-up approach means we liaise with other departments across the firm to ensure our clients received a comprehensive service offering. Retail assignments may need to draw upon expertise from departments, including:
Tax: Guidance provided for both personal and corporate tax compliance.
VAT: Providing clients support with VAT compliance and preparation of VAT returns.
PAYE: Addressing payroll issues and resolving outstanding HMRC payments.
Systems advisory: Collaborating with clients to transition their operational efficiencies, such as stock management, are improved by implementing the best systems suited for their business needs.
In summary
Our clients’ journey highlights the importance of a proactive and collaborative approach in addressing financial and operational challenges. Through our integrated services and strategic support, we’ve enabled our clients to focus on expanding their businesses while maintaining compliance and financial clarity. This case study demonstrates our ability to add value as trusted advisors to rapidly growing businesses withing the retail and e-commerce industry.
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