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