Business Rescue 1: How Funny Is That?

The Client is stressing as he has just had to increase his overdraft. He now wishes to attract an equity partner and his Accountant is unwilling to finalise year end accounts for this year without a substantial improvement in the quality of information provided by the in house bookkeeper. The software used in the business is a DOS based program for which experienced bookkeepers are hard to find.The Client has been in business for 30 years and as many family businesses do has managed the business finances as part of the family finances.

Our Solution

We construct the creditors ledger, debtors ledger, cleanse the WIP ledgers and send a set of fresh accounts to all debtors. We are then in a position to report weekly to the Client so that he knows where his business is heading on a cash basis. We implement processes and procedures for the Client's staff for cheque requisitions, transfers from Trust, drawing of cheques etc. We train in-house staff to do day to day tasks so that the Client only needs Weybridge to do Bank reconciliations, end of month reporting and Trust transfers. The business rarely, if ever, uses that increased overdraft now. And to quote the client: 'Isn't is funny - if you send out an invoice people generally pay it!'

Weybridge are asked by the Client's Accountant to assist...

Weybridge uncover the following:

  • 1.

    Neither a debtors ledger or creditors ledger are being maintained
  • 2.

    Debtors invoices are raised in Microsoft Word and stored in a box
  • 3.

    The debtor is recognised when the invoice is paid - if it's never paid it's never pursued!
  • 4.

    WIP appears to be at unrealistic levels
  • 5.

    Creditors are recognised when paid

Our Skill Set Used

Weybridge Consulting offer an outsourcing solution that is arguably better value for money versus having a single employee as you access a whole team of specialists who work on different levels of your finances.

Industry Expertise

Weybridge has developed expertise in Management Accounting for a number of industries, in particular, Real Estate and Legal Services. We understand the requirements of the managing Statutory bodies and the Trust Accounting obligations.

Cash Flow Management

Weybridge Consulting recognises that this maxim is not only true but is the keystone to the success of your business! We are renowned for taking ownership of this aspect of your finances and making it work.

Software Expertise

Our staff are experienced in a range of Management Accounting and Industry Specific Trust Accounting and Practice Management Software.

Accounting & Bookkeeping:

Our knowledge of various accounting software packages and practices allows for a better overal outcome