Case Study 2

How did you begin working for the client?

A mutual friend introduced  MTA Accounting to the business owners, they were unhappy with their current accountants and the lack of support and communication they were receiving.

What assessments and/or tools were used to provide solutions?

After conversations with the client and gaining an understanding of their business processes, we identified that Xero online accounting system would be beneficial for them to implement. (They were currently using a MYOB desktop version)

We performed the integration from MYOB to Xero with minimal issues, and seamless transfer of existing invoices out of MYOB so no data was lost or doubled up.

We also went through previous year’s tax returns and found some deductions that hadn’t been claimed previously, thus increasing their tax refunds, which they were very happy with!

What was the client’s initial reaction to the results?

They were pleased with the support and constant updates we were providing them.

They were also impressed with the accessibility of Xero, and how easy it was to reconcile their accounts whenever they wanted, instead of having to wait for their monthly bank statements to be issued. The ease of invoice tracking and creation was another aspect of Xero that the client found very helpful.

How did the use of assessments help this client’s business improve operationally/financially?

By understanding the client’s frustrations and areas of disorganisation, we were able to identify and demonstrate how we could implement things to help alleviate their problems, provide them real time information, a reconciled bank account and most importantly, allowing them to prepare their own BAS statements, with minimal assistance from us. This not only saves them some money, but also frees up our time to allow us to spend with them in their business instead of preparing BAS statements for them.

What kinds of comments or anecdotes from the client’s perspective can you share from the overall experience?

We have been thanked quite a bit for our work!

Where is the company today because of these tools? Where would they be without them?

The company is in a more organised position, with access to real time and accurate information that was previously unavailable to them. They can tell at a glance things like who owes them how much money, if they have overdue bills and how much they have spent on wages YTD. They know exactly how much money is in their bank account and can see an accurate YTD profit report with the click of a button.

We can also simultaneously log on to assist them with any issues they may be having and talk them through step by step.

What’s next for this client in the turnaround process?

This process is pretty much complete for this client, apart from ongoing support when issues crop up – they have a very good handle on using the product!