The Distillery

Steve wanted financial reports that he could understand.

On the surface he was doing everything right. Steve had a bookkeeper and he’d asked them to produce monthly reports so he could understand his business numbers better. However, the service he received, as well as the information, was ad hoc at best. Unanswered questions regarding cash flow was hindering the growth of his business.

Steve runs The Distillery, a marketing agency who specialises in creating video content and social video experiences. It’s a fast paced and competitive market that requires modern systems and up to date information.

However, his business was continually at odds with that of his bookkeeper. The communication was generally slow and in some cases, none existent. This meant that Steve was unable to get answers to his queries or know when he’d be receiving the monthly reports that he was paying for. In an industry as sensitive as Steve’s, having to wait an extra week could mean that numbers are so old, they are prehistoric.

The bookkeeper also used manual systems. Increasing the data entry element of the bookkeeping meant it was a slow process. It was also easier to create errors and harder to spot them. Steve was often confused by the reports that were presented to him as the accumulation of errors meant the reports made little or no sense.

It wasn’t until Steve changed accountants, that he was introduced to Fresh Financials.

The first thing we did was undertake a Health Check on Steve’s current bookkeeping. This confirmed Steve’s fear that he had been being presented with incorrect information, and the resulting tidy up job was a large one.

Once the bookkeeping was clean, accurate and up to date, we moved everything over to Xero. Being on the cloud and utilizing as much automation as possible, gave Steve the transparency he wanted and the speed his business needed.

Because of better bookkeeping, Steve has been able to grow his business massively. With his new-found clarity and understanding of his cash flow, he has felt confident to pitch for bigger projects. His next goal is to expand into the Singapore market and grow his team– something that he would have never considered possible prior to working with Fresh Financials.