Case Studies
Good bookkeeping is a critical discipline in any business. While it was once a laborious and time consuming job, the latest technology is designed to save time and money as well as improve accuracy and efficiency. We’ve spent time researching the increasingly crowded online bookkeeping software market and now help our clients to deploy and manage all the popular software platforms -quick Books Online (QBO), Sage, Xero and Freeagent.
Our preferred platform is QBO. We also offer support in training and use of Sage and Xero.
Here we explain how we have made a positive impact on our clients’ organisations:
Case Study One
A Common Problem
Falling behind on quarterly VAT returns is a common problem – particularly in organisations with multiple brands or divisions. Once the problem starts it can be difficult to catch up and when you throw in an unexpected disruption like COVID-19, it’s easy to see how the issue can be compounded. Our client had exactly this problem and needed our expertise and the power of appropriate technology to get back on track.
Issue Identification
Our robust procedures identified the problem while completing the client’s annual accounts. We immediately set about coming up with a solution that addressed the underlying problem with their existing digital infrastructure and gave them the tools to better manage the business going forward.
Scoping the Options
Part of the problem was that the client’s software wasn’t equipped to keep up with the ever changing demands of HMRC and their server wasn’t able to support critical update installations. After extensive discussions with the client and the software provider, it was decided that a complete move to QBO was the most efficient way forward.
The Software Solution
QBO is software based in the cloud and accessible over the internet. This means it is incredibly flexible and easy to update whenever required. QBO also offers users simple online tutorials so our client was able to train several staff to use the system meaning absences do not result in bookkeeping delays. In addition, we are able to login at any time to check on progress, provide guidance and ensure business continuity.
A Range of Benefits
By migrating to a more comprehensive bookkeeping software, the client was able to get back on track quickly and efficiently. VAT returns are now up to date, the company is no longer attracting negative attention from HMRC and the management have a better day to day view of the profit and loss position of their business.
‘We are delighted. I particularly like how we’re able to integrate bank feeds into QBO so we’re reducing manual re-entry’.
Case Study Two
Not Just An Accountant
At the Hansen Company, we love to work with clients who want to take a hands on approach to managing the financial affairs of their business. It helps to keep costs low and allows us to provide a bespoke service based on the level of support required. Recently, we were contacted by a business owner who had decided to stop working with one accountancy firm in favour of engaging the services of one able to provide the expertise and guidance they required.
Recognising the Business Need
The client had a great understanding of the resources available via the online bookkeeping software platforms and was keen to take advantage of the technology to help drive the business forward. They recognised that by deploying specific online functionality, they could save time that could be put to better use elsewhere in the business.
The Solution
We recommended and helped them to deploy a bookkeeping software. We suggested QBO because there is one fantastic feature in particular that has since transformed the bookkeeping process for the client. QBO offers users the option to take a picture of sales and purchase invoices for automatic upload to the system. The client now uses this time saving feature in conjunction with a bank feed so invoices match with transactions as they go. When it comes time for the VAT return to be completed, the laborious work is done and the stress of a looming deadline can be avoided.
Tangible Benefits
The new system provides the client with the most precious commodity – time. But it is more than that. By helping to reduce the risk of losing or misplacing invoices, making mistakes while processing invoices at the end of each month or quarter and doing the work as and when required, our client has a clear view on the day to day operations of the business and complete peace of mind.