Case Study 1
We met with a plumbing and building company who were looking for additional management support without committing to permanent employment. We identified that their current process was to complete a bank reconciliation in-house each month and, come BAS Lodgement time, they would send their MYOB data file to their tax accountant to process and lodge their activity statements. A review of their data file revealed, a large number of old transactions, income in nature, were un-reconciled. Having undertaken further investigations into these transactions we concluded that the company and the accountant were duplicating entries. So the cashbook entries were being entered as:
We immediately took the necessary steps to rectify the issue.
We took up an opportunity to work with a film and television company. We identified that the company were looking for someone to offer a high-end level of finance and administration support on a consistent basis. The role entailed bringing accounts up to date, liaison with tax accountant on all taxation matters, lodging activity statements on time, ensuring legitimate GST credits are claimed, and contribute to the on-going development of streamlining workflow processes. First analysis of their chart of accounts revealed a business in a strong cash-flow position who were not getting the most out of their working capital, and basically paying too much to the banks in fees. After negations with their bank on their behalf we were able to:
Save them over $200 per month in bank fees with the introduction of a fixed $50 monthly fee
And
Earn them 4.5% interest, payable monthly on their normal transacting account
The net result, monthly interest earnings in the thousands.
We put forward three alternatives to the client during the bank restructure process. They chose a mid-tier interest rate to avoid having to manage transferring money between a high-interest earning account and their normal transacting account. We are still working with the company today on an on-going basis and always striving to identify and improving business processes.
Case Study 3
One evening at approximately 6pm we had a call from a very distressed and upset lady. She was in the process of implementing MYOB for their printing and stationery business. They have a huge amount of inventory to set up and having spent all day working on it, was concerned and upset that all her data entry was incorrect. We came to her rescue and immediately went to her office to see exactly what was going on. Using the export and import feature in MYOB we were able to rectify the issue, allowing her to continue the journey of learning MYOB’s features and implementing the software for their business.
A good outcome!
Case Study 4
A medium size retail chain using MYOB for their business transactions and management accounts, needed a solution to manage new sales opportunities and customer contacts. We suggested a software program called ACT! By Sage. The software dashboard is excellent for getting a snap shop of business activities and sales opportunities in a graphical manner allowing for better time management and giving the attention to sales opportunities that each one needs. The software also allows for syncronisation with MYOB. The client has now moved into corporate markets and sees the software as a vital tool for their sales opportunities. Their conversion rates of sales opportunities to commitment to buy have increased since implementing and receiving training on the software.