“As a new business owner I wanted to ensure that my structure offered protection and tax benefits, which was assured after our first meeting. My next concern from an accounting view-point was with ongoing accounting and I wanted to make sure that my reporting was accurate, was able to be produced without too much data entry on my part and gave me the information I needed to analyse my business. Craig worked with me to produce a custom spread sheet that satisfied all my requirements. Having Craig as my adviser, as someone to bounce financial issues off and someone to ‘hold my hand’ during the first year of my business (especially the first few BAS) has helped ease one of the stresses of setting up my own business”

BWI Corporation is a newly established logistics company based in Sydney Australia. Owner/operator Adrien Moore has a wealth of experience in the freight forwarding industry yet had not previously owned a business.

Operationally Adrien had all bases covered but like most business owners was concerned about the financial sticky bits, like financial reporting, payroll processing, budget preparation, cash flow analysis and tax returns.

The problem

As with most established industries, the Freight Forwarding and Customs industries have industry software that is used industry wide. This software (Cargowise), while useful for operational day to day processing, does not lend itself for a deeper level of reporting.

After some initial consultations, Craig was quickly able to establish what Adrien needed to get his business analysis and processes running smoothly.

A way forward

Armed with newly acquired knowledge of the industry software, Craig was able to extract the information that was needed to create accurate, regular monthly reporting as well as cross check data entry to ensure monthly reporting was a breeze.

Result

Working collaboratively with Adrien a master spread sheet was designed and formatted that allows month end analysis compared with prior months and budgets totalling approximately 5 minutes manual work each month. Similar documents have been prepared for the wages and salaries.

This process has now been used as a benchmark for similar clients in the Customs industry who use Cargowise software.

Are you looking for more visibility on monthly, quarterly and yearly reporting and analysis?

Contact us for an obligation free chat.