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Last updated on July 10th, 2021 at 10:38 am

Accountancy Services for the Academic Sector

accountants for academics 300x300 - Accountancy Services for the Academic Sector

If you are based in the education or academies sector and need specialist accountancy or financial advice and services, our specialist team can help. We have an excellent understanding of the sector and background knowledge, so we can guide you through governance, accounting, tax, and audit requirements.

Our accountants and partners work alongside Senior Leadership Teams across both primary and secondary settings, including Academies, Multi-Trust Academies, Independent Schools, Free Schools, University Technical Colleges (UTCs), Nurseries, and Pre-schools. This includes school and academy governors, bursars, finance teams, and business managers.

The education sector is heavily regulated with strong governance and financial complexities. We can provide you with practical, beneficial, and timely advice and support. We take a proactive and constructive approach so we can successfully help you to plan for the future.

We can undertake a wide range of specialist accountancy services:

  • Statutory Audits
  • Preparation of Statutory Accounts
  • Audits of Regulatory & Propriety Statements
  • Completion and Certification of Accounts Return (AAR)
  • Audits of the Teacher’s Pension Scheme
  • Cash Forecasting and Management
  • Attendance at Audit Committees & Trustee Meetings
  • End of Year Certification (EOYC)
  • EFSA & Third Party Returns
  • Accountancy Set-Up & Review
  • Full Payroll Service

Accountants for Academies & Multi-Trust Academies

The Academies sector is one that is growing quickly but is very different to operating within a Local Authority. This sector faces unique challenges, risks, and responsibilities and whilst Academies have more financial freedom, they are also under constant review to ensure the effective use of funds.

Our team offers support for schools undergoing their transition to Academy Status to ensure the conversion is viable and in the best interest and to ensure the process goes as smoothly as possible. Then we can offer advice, training, and guidance going forwards beyond the transition phase. This includes specialist advice regarding internal and external audits, VAT, and tax issues. Our team can attend any audit committee meetings, as required.

We can also provide guidance and support about accounting software and implementation and training, audit provision, and potential or planned expansion.

We believe in an open relationship where we support you year-round, so you can be in contact on a regular basis and can address any emerging issues when they arise. With a team of 150 staff, Burgess Hodgson is well-placed to advise academies around a wide range of issues.

A Full Suite of Education Accountancy Services

  • We have the in-depth knowledge that you want from a partner and always stay abreast of sector developments so we can stay ahead in an area of rapidly-changing compliance.
  • We adopt a personal, friendly, and open approach with all our clients, who we encourage to contact us as much as they would like.
  • We provide expertise and tailored services and financial solutions, so no matter what issues you are facing, our accountants can answer them.

Our Payroll Services include the following:

  • 5-day turnaround with agreed timetable
  • Pay spines linked to jobs roles (NJC, Kent Range and NASUWT Teachers Pay Scales)
  • Pro-rota starters and leavers
  • Incremental Pay Increases with backpay
  • Process any additions and deductions, such as supply hours and unpaid leave
  • Operate occupational maternity, paternity and sickness schemes
  • Epayslips
  • Submit monthly Full Payment Submissions (FPS) and Employer Payments Summary
  • Bacs Submission for Wages and 3rd party submission i.e. Unison, GMB and Prudential
  • Completion of Monthly TPS and LGPS Returns
  • End of Year Pension Submissions
  • Completion of Various Pension Forms i.e.: Estimates for Retirement.