Mellor & Co. ‘Lifestyle Accounting’ differs significantly from Standard Accounting in its personalisation goals, its methods, and it’s very immediate results. It is our most popular program.
Lifestyle accounting is very relevant to anyone. The services are particularly suited to Freelancers and Entrepreneurs. Self-employed individuals; those in charge of their destiny, see the benefit immediately. Typically, they can’t wait to start and begin enjoying the advantages.
Fees for Lifestyle clients are on a fixed fee basis. The price is based on the level of service and the share of risk.
What is Lifestyle Accounting?
We began the journey with lifestyle accounting by seeking an understanding our clients needs and desires. Two goals emerged.
- To reduce to a minimum the accounting effort required
- To maximise the best possible Lifestyle for our clients
Lifestyle Needs Analysis
Mellor and Co. built a proprietary tool we called the Factual Lifestyle Accounting Engine (FLAE) and pronounced as ‘fly’ with affection. FLAE is the work of experienced finance professionals. The result is a system that will produce useful, actionable information. It does more than manage accounts. It can help you achieve your lifestyle as you choose. The Lifestyle Needs Analysis success comes from looking at both current and desired future lifestyle.
- We discuss at length the way you live, your understanding of your current finances, your work, your contract(s), your desires and how you manage all of them day-to-day.
- We take your existing records and data from the needs analysis and feed it into our Factual Lifestyle Accounting System (FLAE).
FLAE gets its information from the Lifestyle needs analysis and produces your unique system. This system relies not on accounting codes, but on actual life data as you understand it. FLAE helps manage this data to provide two primary outcomes:
- Regulated reporting such as VAT, Tax Returns, etc.
- Lifestyle reporting, such as can I go on holiday? What if I buy a car next week? Can I buy a new house? etc.
Finally, FLAE will help you answer those most important questions: ‘What if…’ and ‘How much do I have, right now, in my pocket and ready to spend?’
Lifestyle clients benefit from services that help with day-to-day:
- Banking operations
- Personal finance strategy and management.
- Day to Day Administration
- Local and International business including Tax Strategy.
Your personal finances are as important as your business; they both must be in balance. We also must keep bookkeeping to a minimum. Ultimately, we show you how to do more with a great deal less effort. We even include the complex areas of residency and domicile for tax purposes as a financial topic.
Additional technology services and consulting areas include:
⦁ Practical and best uses for the Internet
⦁ Backup systems
⦁ Physical post to email
⦁ Daily Royal Mail post review, correspondence tracking and advisory
⦁ Telephone and fax management, voicemail and reception matters
⦁ Paperless office and virtual presence tips to improve your lifestyle
For further information about our unique approach or if you would like us to contact you, please refer to the Contact Us page.