Our client, a manufacturer trying to grow from $25m to $250m turnover over the next 5 years (yes – they’re trying to 10x their business), approached us for a temporary solution to plug in a gap when their in-house accountant left suddenly – leaving the CFO responsible for managing the workload. It wasn’t an ideal solution for the CFO, as now he had to process data as well as use it for decision making, and he was desperate to get someone in to lighten his load. They were using Netsuite and couldn’t find a bookkeeper who could help.
What We Did:
After some further questioning of their business, we quickly mapped out a streamlined solution that would allow them to outsource their entire accounts function. We provided them with a full time accounts person who not only took over the in house accountant’s role, but added additional reporting to further free up the time available to the CFO for planning and decision making.
- Process and reconcile purchase orders for all suppliers.
- Verify shipping and freight rates being paid are as agreed with the freight company.
- Process sales orders and send out invoices as per customer specification.
- Reconcile the trade debtor facility as well as chasing outstanding customers for payment.
- Complete management of all payroll, including contractor invoice verification.
- Daily updating of all bank accounts, company credit cards, and lease and loan accounts.
- Optimising of Netsuite data to allow for improved reporting.
Six months in and our client is expecting tripled sales this financial year – above expectations. The CFO has reliable data for decision making and the time to run his own analysis before making any decisions. The workload is increasing and we are now training a second accountant to assist in managing workflow.
This is just one of many clients we’ve helped boost their business. If this sounds like you, get in touch!