Parambir Randhawa

PSR Labs Ltd · For owners of UK accountancy practices

See your practice the way a buyer would.

Enter your own figures and get a report, in pounds, of where profit, cash and practice value are being lost, and the three places to start. Six short steps, about eight minutes. Every number shows its working. Nothing is sent unless you choose to share it.

The basics

Every question needs an answer. Round numbers are fine; use your last full financial year.

Total fees billed in your last financial year.

£

Clients you billed at least once in the last 12 months.

Including you. Count part-timers as fractions, e.g. 2.5.

Outside the January peak.

Fees minus all costs except your own pay and drawings. Used to put a value on your time.

£

Pricing and clients

When did you last raise fees for most existing clients?
How often do you do work outside a client’s agreed scope without billing for it?
Do you know which of your clients are unprofitable?
What share of your clients would you not take on again at their current fee?
Do you know the profit per hour of each service line (accounts, tax, payroll, bookkeeping)?
What share of your fees comes from advisory work beyond compliance (planning, management accounts, business advice)?

Time and capacity

Outside January, what share of your working week is chargeable client work?
How many new clients of a typical size could you take on next month without working longer hours?
In the last tax-return season, how many weeks did you work more than 50 hours?
What share of your self-assessment returns are filed in January?
What share of client work is done by someone other than you?
Roughly how many hours a week does the practice spend chasing clients for information?

Cash and recurring revenue

Average days from sending an invoice to being paid. If clients pay in advance or by monthly direct debit, enter 0.

days

Average days from starting work to invoicing it. If you bill in advance, enter 0.

days
What share of your fees is collected by direct debit or in advance?
What share of your fees comes from monthly or annual agreements that renew automatically?
What share of clients left in the last 12 months, not counting ones you asked to leave?

Resilience and process

If you were unavailable for 4 weeks outside the busy season, what would happen?
Are your core processes written down so someone else could follow them?
How do most clients send you their records?

Your goals

Not scored. These tailor the order of your recommendations.

What would you most like from the practice in the next 12 months?
What most gets in the way?
Which kind of help would suit you?