CLOUD BOOKKEEPING & OPERATIONS CONSULTING

Jacinthe Koddo helps businesses with 6-35 employees streamline their messy bookkeeping into efficient, automated systems so they have Less Bookkeeping, More Fun!

If you’re like most business owners, you’ve woken up in the middle of the night with money stress, worried about losing a key admin employee who’s getting bored with their job, or scrambled to gather your company’s financial info to meet with the bank or a potential investor.

These problems are completely avoidable with good, efficient systems. Bookkeeping systems to be exact.

There are seven common bookkeeping-related problems that are costing businesses money on a daily basis:

  1. The wrong people are doing the work. You’re the CEO of a 15-employee business and are still the one issuing invoices, chasing down payments, and entering receipts into your accounting software. Sure, these things are valuable for your business. But your time is even more valuable and better spent doing the things you LOVE in your business.
  2. Payments get missed, people get angry. Vendors are knocking on your door, getting frustrated and you’re getting worried that they won’t want to work with you in the future.
  3. Payroll is always a panicked sprint. Your administrator is constantly having to hound your employees for their timesheets, making meeting that Tuesday 9am deadline for payroll a heart-rate-raising panic every single week.
  4. Money is wasted paying CRA penalties. A few years into business and you’re finally making money (you think) and the CRA does too. But you’re surprised every time you need to remit your corporate taxes and feel like you’re always scraping the money together.
  5. You don’t feel in control of your company’s money. You can’t get a real-time picture of your company’s financial situation because your bookkeeper is always three months behind. You want to be able to log-in to your accounting system at any given time and see how much cash you’ve got in the bank without worrying if you’re missing some bill in a pile on one of your employee’s desk somewhere.
  6. Copy/pasted Word document invoices are wasting so.much.time. Forgetting to change the invoice number, adding up the total and tax wrong, and emailing agreements that your client downloads, prints, signs, scans, and emails back to you, then you download, print, sign, scan, email back and file. Time = money. And this all equals money down the drain.
  7. Your business doesn’t accept credit card payments. Those cheques you get in the mail sit in your wallet for three weeks before you finally remember to deposit them. Interac e-transfers get sent to your general info@ inbox and your client doesn’t enter in the invoice number the payment relates to, causing your bookkeeper to waste time digging around for the match. The faster you get paid, the better your business’ cashflow. The better your cashflow, the less stress you have. The less stress you have, the more fun you can have!

How do we help fix these problems?

Under the Tandem Accounting Group family, Jacinthe evaluates your accounting and bookkeeping system needs so you and your employees can stop throwing money down the drain and get back to what you do best.

 

By interviewing key employees involved in the following core bookkeeping processes, we find out where valuable time and money is being wasted so we can implement automated bookkeeping systems:

  1. Bookkeeping
  2. Payroll
  3. File management
  4. Inventory
  5. Receipt processing
  6. Time tracking
  7. Scheduling
  8. Receiving Payments
  9. Making Payments
  10. Customer Relationship Management (CRM)
  11. and more! 

With our help, money stress in your business will be a thing of the past.

Let’s look at an example.

The company: Meeting Venue Rental Space
Revenue per year: $500,000
Employees: 3 full-time, 6 subcontractors
Doing business for: 3 years
Their situation: Lots of work coming in!

 

The Problem:

  • 15 hours wasted per 10 clients that their sales person was spending to issue an Excel spreadsheet quote, Word template invoice, Word document agreement emailed, and Excel spreadsheet receipt.
  • Their first year of business they got audited for GST and it’s set them up to be every year making the need for an accurate and up-to-date bookkeeping system imperative.
  • Subcontractor payments were chronically delayed making the need for quick and easy e-payments a neccessity to keep everyone happy.

The Solution:

  • Cloud Accounting Software
  • E-payment Software
  • Payroll Software
  • Digital Signing Software

Let’s look at this in numbers:

 

  • Before:
    • $24,000 per year spent on time-wasting processes
      • 10 clients/week x 40 weeks of busy season x $40/hour
  • After:
    • $7,500 = one time implementation fee
    • $950/year = software fees
    • $1,920/year = contract bookkeeper fees
  • They now save:
    • $13,630 in year 1
    • $21,130 in year 2 and onward

Want these kinds of savings in your business? Jacinthe can help!

Knowing where time’s being wasted, we’ll set up your business with the right systems and apps, and move your bookkeeping online (aka into The Cloud) so you have visibility into your business finances whenever you want it.

 

What we do:

  • Interview your employees to establish how your bookkeeping operates and find wasted time

  • Suggest the best apps to minimize wasted time

  • Train your employees to set-up and customize the app to your business

  • Provide best practices to your employees

  • Help you hire in-house or bring in a contractor to perform monthly bookkeeping duties

  • Provide ongoing coaching to ensure the apps are adopted and working well

 

What we don’t do:

  • Develop policy and procedure documents

  • Work onsite regularly

  • Monthly, ongoing bookkeeping

How do we work?

Stage One: Review – $1,500+GST

  • We interview key employees involved in your bookkeeping workflow.
  • You end up with a systems analysis report that shows you how much money is being wasted in your current workflows.
  • We make technology recommendations to minimize wasted time.
  • We review and make a plan for implementing these technologies.

Stage Two: Implementing – Starts at $3,500+GST

  • We train your employees to set-up and customize the apps for your business.
  • We provide best practices to make sure your employees are excited about the new apps and truly adopt them. 

Stage Three: Continuity – Custom Quote

  • We transition you to monthly bookkeeping, whether it’s helping you hire in-house or outsourcing.
  • We determine what kind of ongoing monthly systems coaching your employees need to ensure the new systems stick.
  • We determine what other planning your business could benefit from including financial planning, forecasting, capacity planning and more.

 

Are you ready to get your business’ bookkeeping organized (and keep it that way)?

With a little help from Jacinthe, we can magically create order out of the chaos. Fill in the Tandem Accounting Group inquiry form below and we’ll be in touch to set-up a consultation.

CONTACT US

Get in touch to request a consultation, or inquire about your specific business needs.

Use the form above, or email us at jacinthe.koddo@tandemaccounting.com

We’d love to hear from you!