Suggestions
Stuart Hurst
Director @ Accounts and Legal : Xero MVP 2021
Stuart Hurst is a prominent figure in the accounting sector, currently serving as the Director at Accounts and Legal since June 2023. He has a rich background in cloud accounting and has been instrumental in helping businesses streamline their financial processes through automation and technology.
Professional Background
-
Accounts and Legal: Hurst has been with Accounts and Legal since June 2020, initially as a Director before his current role. He specializes in providing comprehensive accounting services to businesses, particularly those with turnovers between £500,000 and £5 million. His focus lies in helping clients understand their financial data better and automating their accounting systems to enhance efficiency.12
-
Cloud 10 Accounting Limited: Prior to his role at Accounts and Legal, he was the Managing Director at Cloud 10 Accounting Limited, where he emphasized the importance of cloud technology in modern accounting practices.2
-
UHY Hacker Young: Hurst also held significant positions at UHY Hacker Young, where he was the Head of Cloud Accounting and contributed to increasing the firm's cloud client base dramatically.2
Achievements
Stuart Hurst has been recognized for his contributions to the field, including being named Xero’s Most Valued Professional (MVP) in 2021. He is known for his commitment to "working smarter not harder," advocating for the use of technology to simplify accounting processes for business owners.13
Education
Hurst holds a 1st Class BA(Hons) in Accounting with Business Information Systems from The University of Manchester, which he completed between 2000 and 2003.2
Personal Philosophy
Stuart is passionate about empowering business owners by providing them with clear financial insights and leveraging technology to optimize their operations. He aims to meet with clients regularly to ensure they are on track with their financial goals and to offer ongoing support throughout the year.34
For further details about his professional journey, you can find him on LinkedIn under the username stuart-hurst-cloud.
Highlights
"Its just a click of a button, the software does it itself doesn't it"
We hear that from prospects sometimes when we talk around filling a VAT return and why we should be the ones to do it.
That's not what happens in the background, in fact there are pretty extensive set of checks going on
We use Dext Precision to ensure that every VAT return goes through the same high quality review, with a 21 step checklist which includes the following
-
Checking the bank feed in Xero matches to the actual bank statement balance. Sounds obvious but this ensures that if a feed does break we don't miss any transactions, so you know our starting point is accurate
-
Reviewing debtor and creditor balances You'd be amazed how many items sit on a debtors or creditors list forever, when in actual fact they need to be written off or have already been paid but by a method other than the company bank account. This can make a big difference to that VAT bill
-
Multi coded contacts review This is where Dext shines in helping highlight VAT posting errors. For example, lets say you have 10 invoices from Accounts and Legal. 8 coded with VAT on, 2 without. Chances are those 2 should have had VAT on and you’re missing out. Boom – Dext is gonna flag that as a potential error for us to review. This is where the machines hands down are better than Doreen manually reviewing every single VAT line, so we squeeze every penny of VAT for you. We do this review when we first take a client on. The more extreme savings have ran into the thousands of pounds.
-
Review of the VAT control account In theory this should match to the VAT return in many instances, but this won’t always be the case with various VAT schemes or even the odd rogue misposting. Once again peace of mind that its been checked
- Revenue account review Especially important for those that invoice a variety of VAT rates, construction industries being a prime example.
That’s just 5 of the 21 steps we take, all of which are prepared by one person and reviewed by a qualified accountant
So you know we’ve nailed that VAT figure, and it ain’t no click of a button!
#vat #peaceofmind #finance
