Client Overview
- Our client is a leading provider in the corporate cleaning industry, offering comprehensive cleaning solutions to a wide range of businesses. They also handle minor repair and maintenance tasks to ensure clients’ facilities remain in optimal condition.
- The company has extensive experience securing tenders for large-scale event cleaning, including high-profile events such as the Formula 1 Grand Prix and Air Show.
Client Challenges
- Disorganised Accounting Records: Over 3,000 unreconciled bank transactions and mismatched bank balances resulted in inaccurate financial records.
- Manual Payroll and Compliance Issues: Payroll for 30-40 employees fortnightly and 200+ payslips during events was processed manually. The previous bookkeeper's lack of knowledge of industry award rules led to frequent payroll corrections and STP filing errors.
- Late BAS Lodgments: Consistent delays in filing BAS led to penalties and interest charges from the ATO.
- Inaccurate Financial Reports: Misapplication of credit notes caused incorrect gross and net profit ratios, leading to inaccurate revenue reporting to the directors.
befree's Solution
- Conducted a comprehensive review of the client’s accounting software, identifying inaccuracies and highlighting key issues to the company’s director, along with actionable solutions.
- Implemented payroll automation to ensure accurate, timely processing and compliance with industry award rules, reducing manual errors.
- Took over the lodgement of Business Activity Statements (BAS), ensuring they were filed on time to prevent penalties and maintain compliance.
- Established a structured folder system to maintain up-to-date financial data, allowing the director easy and immediate access to essential documents.
- Generated accurate financial reports based on corrected data, providing the directors with reliable insights for informed decision-making.
Results/ Benefits
Trusted Partner for Financial Accuracy
Gained the client’s trust by delivering significant improvements in accuracy and organisation of their accounts.
Scaling Resources for Business Growth
The client increased their engagement with befree, scaling from one full-time resource to two full-time resources.
Peace of Mind for the Client
Enabled the client to take a much-needed holiday with confidence, knowing their financial operations were in capable hands.
44% cost savings
By outsourcing their bookkeeping and accounting tasks to befree, the client reduced its operational costs by nearly half.
Building Strong Internal and External Relationships
Established strong working relationships with the client’s internal teams (customer support and HR) and their customers and suppliers, fostering seamless collaboration.