Case Studies

Retail Store

Savvy was referred to the Client from a previous work colleague

Savvy started with:

  • The Client had been doing the books themselves for 6 months coming to realise it was taking up too much of their time, and not allowing them the headspace or time on growing their business
  • A professionally set up Myob, which the Client tried to maintain to the best of their ability
  • Weekly payroll with 3 staff members
  • All payments made electronically to suppliers and staff

Actions: Client is in her 20’s, constantly learning and very ambitious

  • Immediately we began payroll on a weekly basis
  • Business has grown from one store to two in the past 7 months; 5 months after Savvy took over the bookkeeping: 2 separate ABN’s as advised by their Accountant.
  •  We initially had a few bookkeeping issues with the set up of the new store. The client did not discuss with us the timeframes and banking.
  • Set up’s for the new store which resulted in massive transactions via a clearing account for the first 3 months of trading.
  • Savvy assisted in converting the client from Myob, with a manual stock system to Xero with an integrated POS system.
  • Client has all suppliers set up with COD terms and has excellent control of cash flow in both stores.
  • Savvy processes the weekly payroll and all superannuation requirements for both stores – 10 staff in total.
  • Close working relationship with the Client’s accountant at all times.

Mixed Business

Savvy was approached by an accountant to take over from a previous bookkeeper of many years to manage all of the bookkeeping and payroll citing many discrepancies and lack of history in records.

Savvy started with:

  • Inaccurate QuickBooks with no history of Payables or Receivables
  • All manual cheque payments
  • No online banking or login
  • Cheques cashed for wages weekly and bookkeeper paying their own fees
  • Contractors paid in cash/no paperwork
  • In arrears with Superannuation and BAS requirements
  • Inconsistent Supplier payments resulting in overpayments and overdues.
  • No seasonal or meaningful comparisons
  • Excessive TIL and staffing
  • Double handling of paperwork for e.g., Clients doing their own manual records to try and get a more accurate feel for their operation.
  • Client’s read emails but did not respond, fax only. They don’t own mobile phones or have internet banking. Altogether, not fussed at all with technology

Actions: We undertook the new work progression gradually as the Client are in their 60’s and are working amazing hours, 7 days a week.

  • Immediate switch from QuickBooks to Xero
  • First week completed payroll in Xero by Internet banking. Winter payroll is 7 staff, summer payroll estimated to be 20 staff
  • Completed EOD’s spreadsheet for cash out’s etc.
  • Established Supplier records, accurate GST
  • Superannuation is now being accurately recorded and payments will be on a quarterly basis with money being put aside every week to account for this
  • Debtor control is now monthly, not 6-7 months.
  • Working hand in hand with the accountant to get the best for the client