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Case Study: Outdated bookkeeping holding your business back?

One of the biggest frustrations we as business owners can all relate to? The discipline to keep our records up to date with the little time available. Especially after trying to grow our business all day long.

And from time-to-time we get behind. And then we fall behind a bit more. Before you know it, it has become a massive task that would require significant effort to get back up to date.

Human nature kicks in before you have a split second to make a different decision and we end up spending our time on everything, except working on those backdated accounts. Hell, we’ll watch our grass grow and it would sound like more fun than rummaging through piles and piles of paperwork.

No info equals no control

This is the worst situation we can find ourselves in, because not only will it require significant physical effort to complete, it also becomes an emotional battle too. The longer we allow ourselves to keep procrastinating, the more negative the emotions and thoughts about our business becomes. We start blaming everyone and everything around us for this situation we find ourselves in.

Why don’t our staff do more so we don’t have to run around putting out fires all the time? Surely then we would have the time to get to this! Why are our customers so demanding? If we weren’t at their every beck and call, then surely, we could get around to this! And so, the evil spiral continues, deeper and deeper into a state of disarray.

“Before engaging with Calypso Accounting, our biggest challenge was to keep up with bookkeeping and dedicate the time it requires to do it properly.”

How many of us have found ourselves in this position before? Can you recall how it was nearly impossible to manage your businesses due to the lack of information? Remember how you went into the bank account each day and tried to figure out if there will be enough cash to pay salaries end of the month? And that is just the staff salaries. “We’ll worry about our own salaries later” – we tell ourselves.

And this simply because our accounting records aren’t up to date!

This, however, doesn’t have to be your reality!

Technology to the rescue

Firms such as Calypso Accounting, deploying best in class technology, can help. Leveraging technology we are able to process large volumes of paperwork and data. In relatively short amounts of time and much more cost effective, than our paper based counterparts.

We call this solution, CLEANhouse.

Imagine walking into your office and by using a smart phone, suck up all the paperwork lying around everywhere. Just like a vacuum cleaner. And then applying the same with your email inbox. How many supplier invoices are still stuck in your inbox? That haven’t even made it to your filing system yet, never mind your accounting records!

By implementing a digital filing system and integrating that with cloud-based accounting software, you are not only decluttering your physical world, you are also speeding up the amount of time within which your accountant can produce management accounts. This leads to a more pro-active management style through which you are in total control of your business. Every day, of every week.

“Now that everything has been brought up to date, we can focus on what we do best and scale the business with a realistic mindset.”

Our most recent CLEANhouse case study, is about a business just like yours and mine. A company doing great work in its own space and attracting the right clients. The owner trying to balance time trying to grow the business whilst also making sure every client is being serviced and taken care of.

The end result?

The bookkeeping fell behind. Way behind.

You can download the case study below.

All lives well in the cloud

With a structured approach, we designed an appropriate back office process for the client. A process where all historic information was digitised and fed into a cloud accounting system. This allowed us to produce accounts and submit to the Revenue Service in record speed.

Today, our client is in full control of his business finances, compliant and looking into opportunities to expand operations. Bookkeeping is now something that happens “on the go”. Receipts and invoices no longer pile up in drawers and shoeboxes.

And how long did it take us to get the accounts and compliance up to date?

4 weeks!

“We were very pleased with the speed and attention to detail from the Calypso team.”

If this resonates with where we you currently find yourself and need help, simply get in touch with us today. Let’s talk about how we can roll out something similar for your business and get you back in the driving seat of your business.

Thrive CFO

Thrive CFO

At Thrive CFO, we do accounting, tax, payroll and consulting. But we don’t really DO them…

Instead, we DO FREEDOM.

Freedom of time, money and location.

Yes, tell me more!

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