Case Studies

Client businesses were under financial stress due to a lack of control over financial management. Therefore required additional funds.

• Overtrading of the businesses.
• Expenditure exceeded over income. e.g., No budget prepared
• No financial advice obtained.
• Cost of existing loans were high.
• Receivable and payable were not accurate.

We have then carried out health check of the client businesses, which include property investment and developments , restaurants etc. We have then arranged a business profile and feasibility. We have then arranged a refinanced at a very competitive interest rates through high street lender with which had a very close working relationship.

A client, approximately with 200 staff had a centralized accounts department. Yet, reporting to management was never met the deadlines. This has affected a timely decision making and company was making losses.

• The role and job description of the inhouse Accounting staff was clearly define.
• Duplication of transactions and incorrect posting to the ledgers.
• Undue delay due to less accurate staff allocation.
• Accurate data was not available.
• Significant cost due to undefined disbursements.
• Business Advisory was not taken.

The role of the staff was clearly described, and individual target was set. The bookkeeping was then streamed line on a monthly basis and a reconciliation of the control accounts was done on a monthly basis. A system to maintain the expense log was maintained and ensure that any expenses disbursed must have prior authorization of the management. The business was showed a great improvement and stability and business improved profitability.

A client, in the children nursery business, based in Essex, had faced challenges to keeping up to date with its bookkeeping requirements and consequently the director was not able to receive management information.

• Appropriate software was not being used.
• Expenses invoices were not posted to the correct heading.
• Income was not correctly posted to the right nominal accounts.
• Significant amount of time and costs incurred.
• Receivable and payable were not accurate.

We have recommended and implemented a cloud-based software, Xero, which brought efficiency to the business transaction. This also helped client to see the real time progress of the business.