What we do

Centrix provides the Management Accounting Services typically provided to a firm of solicitors by their own Head of Finance.  The only difference is that we work remotely from our offices and employ “your” accounts staff.

We provide a full range of Management Accounting Services from the production of simple quarterly management information to a full monthly reporting package.  Our standard reporting package meets the requirements of the banks’ annual review and we work closely with our clients’ accountants to produce information to assist with year-end tax returns.

The following list is not exhaustive but covers the main Management Account Service headings: –

  • Monthly or quarterly Management Accounts with profit and loss

and balance sheet information produced promptly at period end.

  • Monthly or quarterly cash flow projections.
  • Commentary and advice on monthly performance e.g. analysis of

fees rendered and recovered.

  • Annual budgets and cash flow projections
  • Monitoring actual results against budgets and projections.
  • Fee and performance analysis
  • Monitoring capital and current accounts
  • Meeting with partners to discuss results and interpret figures
  • Preparation for year end accounts
  • Preparing projections to assist with funding applications.

Why use us

So what are the advantages of using “outsourced” Management Account Services and why do clients trust us?

In a nutshell:

  • We save them worry and stress.  Our Finance team ensures a high quality personalized relationship through a dedicated point of contact allocated to you. You can rest assured that your Management Accounts are being looked after by an established Head of Finance, giving you the peace of mind to get on with running your business.
  • We save them money.  Through saved resource such as office space, computers and through economies of scale.
  • We save them time.  As specialists we can undertake your outsourced tasks quicker than you probably could save you valuable fee earning time.
  • We take the strain.  As recruitment, training, holiday, sickness and maternity cover are no longer their problem.
  • We agree a monthly fixed fee to ensure there are no hiddensurprises and this assists cash flow and budgeting.
  • We employ fully qualified and experienced Financial Managers and ensure their up to date training is maintained.

How does it work?

Centrix provides a bespoke Management Accounts Service for Solicitors and Law Firms dependant upon your size and requirements.  By making our service bespoke we can ensure we are both efficient and cost effective.  So after an initial discussion we would agree terms and price dependant upon your specific need.

The service operates in the following way:

(a). In our initial discussions we would decide:

  • Whether you want a monthly or quarterly Management Accounts Package.
  • What documents you require in your Management Accounts Package. i.e. profit & loss and balance sheet, cash flow projections, KPI reports and so on.
  • The finance timetable, for example when the Management Accounts package will be produced i.e. normally a few days of the period end.
  • The best way for you to provide us with your accounts information to produce your Management Accounts Package.
  • We would also decide upon a fixed price for our service.

(b). We produce and email your Management Accounts Package to the relevant contact partners.

(c). Dependant upon the level of service you require the Management Accounts Package can contain commentary and advice on performance, and we monitor actual results against budgets and projections.

(d). In addition to the aforesaid we can:

  • Meet with partners to discuss results and interpret figures, as well as offering advice or additional services to resolve issues that may arise.
  • Prepare Annual budgets and cash flow projections.
  • Get actively involved with Fee and performance analysis, monitoring and coaching.
  • Monitor capital and current accounts
  • Assist in the preparation for year-end accounts and liaise closely with your accountants to ensure that audits run as smooth as possible.
  • Preparing projections to assist with funding applications.

(e). Finally, whilst you will have dedicated Finance Manager working with you, we act as a team ensuring continuity in the event of our own HR issues and a wide breadth of knowledge to cope with any problem or opportunity that may come to your business.