FREQUENTLY ASKED QUESTIONS
Questions are part of understanding your business.
You are not expected to know everything about bookkeeping, accounting, tax or the financial side of running a business.
If something does not make sense, ask. If you are not sure what kind of support you need, ask that too.
Here are answers to some of the questions business owners ask us most often.
General Questions
What does Figured Out actually do?
Figured Out is a bookkeeping, accounting & advisory practice.
We look after the financial foundations, including bookkeeping, accounting, reporting and relevant compliance, but our work goes beyond getting things submitted on time.
We also help business owners understand what is happening financially, recognise what needs attention and use that information to make more intentional decisions.
Do I need to be good with numbers to work with you?
Not at all.
You do not need to understand accounting terminology or know how to read every line of a financial report.
Our job is to explain things in a way that makes sense and help you understand the information that is relevant to the decisions you are making.
Questions are encouraged.
What if my business finances are a bit of a mess?
That is not a reason to avoid getting help.
Things get behind. Receipts go missing. Systems stop working. Financial admin gets pushed down the list when running the business feels more urgent.
We will first understand where things are now, then work out what needs to be addressed and what a realistic way forward looks like.
Will I still need to be involved if Figured Out handles my bookkeeping and accounting?
Yes, and that is intentional.
We can take care of the technical work, but we do not believe business owners should be completely removed from the financial side of their own businesses.
You will still need to provide information, engage with relevant reports and reviews, ask questions and participate in financial decisions.
You remain the person leading the business.
How do I know which type of support I need?
You do not need to work that out before contacting us.
Some businesses need ongoing bookkeeping and accounting. Others need focused one-to-one advisory support, while some business owners are better served by an education experience such as Business Foundations.
Tell us what is happening and what you are struggling with, and we can help you identify the most useful place to start.
How does your pricing work?
The cost depends on the type and depth of support you need.
Ongoing bookkeeping and accounting is scoped according to the actual work involved and the level of reporting, review and advisory support required.
One-to-one advisory and programmes such as Business Foundations are priced separately.
We will always explain the scope and cost before you commit.
Do you only work with established businesses?
No.
We work with small and growing businesses at different stages, but Figured Out is generally best suited to business owners who are already operating, making financial decisions and want to become more intentional about how they manage the financial side of the business.
What matters most is not how “perfect” or established the business is. It is whether you are willing to engage, ask questions and take an active role in understanding what is happening.
Will you tell me if you spot something that needs attention in my business finances?
Yes.
Part of our role is to help you see what may not be obvious from the day-to-day running of the business.
If we notice a material concern, unusual trend or something that deserves your attention, we will raise it with you rather than simply process the numbers and leave you to discover it later.
We believe good financial support should help you become more aware of what is happening, not just keep the records up to date.
About Our Services
What is the difference between Foundation & Visibility and Clarity & Advisory?
Both include ongoing bookkeeping, accounting and the relevant compliance work your business needs.
Foundation & Visibility is designed for business owners who primarily need strong financial foundations, quarterly management reporting and enough review and explanation to stay informed.
Clarity & Advisory is a closer relationship, with monthly management reporting, deeper interpretation, quarterly advisory meetings and more proactive support around trends, concerns and opportunities.
We will help you work out which level is appropriate rather than expecting you to choose a package on your own.
How often will my bookkeeping be done?
We believe useful financial information needs to be current.
Bookkeeping is therefore generally processed weekly or every second week depending on the needs and activity of the business, rather than everything being left until the end of the month.
The exact rhythm is agreed as part of your scope.
Will I receive management reports?
Yes.
The reporting rhythm depends on your level of ongoing support.
Foundation & Visibility includes quarterly management reporting, while Clarity & Advisory includes monthly management reporting with deeper commentary and interpretation.
The purpose is not simply to give you another report. It is to help you see what is happening and recognise what may need your attention.
Is One-to-One Advisory the same as business coaching?
It has some similarities to business coaching, but it is not quite the same.
Our advisory work is anchored in the financial side of your business, but the conversation is not limited to the numbers.
We may work through pricing, cash flow, profitability, capacity, growth, owner pay, priorities, decision-making, mindset or other business challenges. The difference is that we bring a strong financial lens to those conversations and connect them back to what is happening in the business.
So while it can feel similar to coaching in the way we explore options, ask questions and help you think things through, the work remains grounded in financial awareness, business reality and intentional decision-making.
Is Business Foundations only for people who have just started a business?
No.
Business Foundations is useful for business owners at different stages.
Some participants are relatively new. Others have been operating for years but realise they were never really taught how to manage the financial side of a business.
The programme is designed for people who want to strengthen their understanding, habits and financial foundations, regardless of how long they have been trading.
Can Business Foundations lead to ongoing support with Figured Out?
Yes, where it makes sense.
Business Foundations is a standalone learning experience, so there is no expectation that participants become ongoing clients.
However, some business owners may decide afterwards that they would benefit from ongoing bookkeeping and accounting support or a deeper advisory relationship.
If that happens, we will look at what the business needs and whether Figured Out is the right fit.
What does “beyond compliance” actually mean?
Compliance still matters. Your bookkeeping, accounting, tax and statutory responsibilities need to be handled properly.
But we do not believe the relationship should stop there.
Going beyond compliance means helping you understand what your financial information is showing you, highlighting what deserves attention and connecting the numbers to the decisions you are making in the business.
The aim is not simply to keep the business compliant. It is to make the financial side more useful in the way you actually run it.
Can my level of support change as my business grows?
Yes.
The support your business needs today may not be what it needs a year or two from now.
You might begin with strong financial foundations and regular reporting, then need deeper interpretation and advisory support as the business becomes more complex or the decisions become bigger.
Our ongoing relationships are designed to evolve when there is a genuine need for more support, rather than constantly trying to move you into a bigger package.
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