“Her support was excellent, and we haven’t looked back since! A great service”

Chris Hirsch, Managing Partner, Holland Hahn & Wills

Case Studies

The Objective

Turn a carrier bag (to be honest, the receipts didn’t fit in a carrier bag. It was 4 box files!) into final accounts for year end, fully reconciled and ready to send to the accountant

How we approached the project

You’d be surprised how many people find themselves in such a situation. It’s easy to let the receipts get a little out of control. When this client arrived with 4 box files of receipts we didn’t flinch. We got the receipts into date order and then split into financial years. We speedily entered all the information into the spreadsheet to determine the sub totals for each category and month. Then we entered the information onto new accountancy software (we use and recommend Xero but there are several on the market) and reconciled everything with the bank account using the software’s bank feed.

The results

Job done. The client was delighted that finally the secret boxes had now been transformed into fully reconciled accounts. As we had set up the software it was much easier to manage from that point on. We also introduced our client to Receipt Bank as a quick and easy way to keep on top of expenses.

The Objectives

The contractor wanted to keep on top of his accounts and understand the financial health of his business.

How we approached the project

We work with a number of contractors – sometimes they are limited companies, sometimes self-employed individuals. We always start with a spreadsheet which either the contractor or we complete. In this case, we took on the job, entering receipts and categorising them to appropriate areas of expense/ sales and then reconciling them to the bank account as needed. We then set up Xero and Receipt Bank for the contractor who could now manage his receipts at his own convenience – it’s so easy, it’s the kind of job you can do on the train at the end of the day or during the ad break watching TV. You simply photograph the receipt with the app on your phone and categorize the expense. It’s then electronically imported to your accounts.

The results

With all the information up to date and all new expenses being recorded automatically, we were able to produce management accounts on a monthly basis giving the contractor a clear idea of how their business was performing.

The Objectives

The CEO recognised that in order to grow his business, he needed a really good understanding of his numbers so that he could invest appropriately.

How we approached the project

This small business was ready to take the step from paper-based to cloud-based accounts. We transferred their accounts over so that we could use bank feeds to support bank reconciliations. Then, as the company grew, we took on the payroll and then started providing monthly management accounts and cashflow statements to help the CEO budget. This helped determine how much investment was needed in order for the business to really take off.

The results

CEM have been able to provide clear management reporting that has helped the business grow. We now work alongside the business doing the budgeting and forecasting and we provide weekly cash flow forecasts. Next up is setting up their Auto Enrolment pension.

The Objectives

Our hospitality client wanted a better handle on the costs. A lack of regular management accounting meant food & beverage costs were rising out of control.

How we approached the project

The client had been promised a bookkeeping service from their accountant. Unfortunately, she wasn’t getting the regular monthly management accounts she needed and felt concerned that some costs were rising unchecked. CEM took the bookkeeping back in-house. We reconciled all the end of year accounts and then started providing weekly food and beverage costs vs. revenue. This gave the client an understanding of the cost of sales on a weekly basis and gave her the information to change the purchases, menus and encourage sales.

The results

The changes improved the bottom line within the first month of bringing the bookkeeping back in house.

The Objectives

The client wanted to get set up on Xero and make the most of its features in order to manage their own business in house.

How we approached the project

Initially we set the client up on Xero with its opening balances.  From there the client met with Clare and they went through an agenda that included all the essentials for running your business: setting up the bank feed; setting up the invoice settings (including adding the logo to the invoice); importing the customer details; understanding how to use purchases and record VAT; how to reconcile a bank statement and where to find the Profit & Loss account.

The results

The client went away really happy with the initial set up and relieved they knew how to manage everything in house. After a few weeks, they were eager to know how to do more on Xero which we love at CEM.  We want you to be passionate about your numbers and to understand them. So we set up further training.

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