Success Story #4
The Business
A pet store that provides pet sitting services
The Challenge
The client was not receiving solid information from their part-time bookkeeper. The management at the store wanted more timely receipt of financial statements and other financial reporting, especially from their Point-Of-Sale (POS) system. Cost tracking by location was not being performed which gave management no insight as to where problems with overall profitability were originating. Inventory and sales tax were also two hot buttons on management’s list of concerns.
The Solution
Arrow Bookkeeping assigned a qualified bookkeeper to streamline the bookkeeping process and perform the daily bookkeeping. We also designed and implemented a reporting system by location to ensure the proper tracking and identification of revenue and expenses, giving management their first real insight into profitability since the expansion. In addition, the experienced Controller created and implemented much needed controls for the accuracy and completeness of the POS system, inventory and sales tax.
The Result
Arrow Bookkeeping brings to the pet store the dual expertise of a qualified bookkeeper and an experienced Controller. Bookkeeping is done on a timely and accurate basis, and management is kept current on the financial status of the company by location. The Controller ensures the pet store receives and understands their financial information so proactive business decisions can be made.
- Expertise of a Bookkeeper and Controller assigned to the account—the right skill mix and the right amount of time
- Creation & implementation of POS, Inventory & Sales Tax controls
- Timely and accurate financial information and analysis
- Regular meetings with the directors to discuss financial statements
