Transactions are automatically entered into your bookkeeping system for you. You won’t lift a finger, but you will crack a smile.
YOUR ACCOUNTS PAYABLE DATA, 100% UP-TO DATE :
We will receive your supplier invoices on your behalf, and enter them into your system. All done automatically for you. Nice.
DEBTORS. WHO NEEDS THEM ? :
We’ll follow up your overdue accounts for you until they pay. That’s one more thing to kiss good-bye: Uncomfortable phone calls to debtors, be gone!
BANK REC’S . GIVE THEM THE FLICK TOO :
We’ll take care of your bank reconciliations. You relax.
PERFECT CLARITY ON YOUR BUSINESS PERFORMANCE :
Delivered to you on a platter-well, via email- a graphical, easy-to-understand management report on your business’ performance each month, showing you how you’re tracking with your Key Performance Indicators.
Skip the data entry, your suppliers send the invoices directly to us and we’ll enter and attach the invoice in Xero ready for you to approve and pay.
When we start working with you we will provide you with a new Zerobooks email address (e.g. email@example.com) and a template letter to send to your suppliers. The process is then as simple as:
Suppliers and/or our staff send all suppliers invoices to this email address – you don’t have to deal with incoming invoices
We then enter these invoices into Xero as a draft invoice – you no longer have to spend hours at your computer punching in supplier invoices
You will receive an email advising you that we have uploaded invoices to Xero
You log on and review and approve the invoices with the click of a button. – You still have control over what gets approved and paid PLUS a copy of the invoice is attached to the entry in case you’re not sure and want to review the invoice.
You pay the invoices as per normal
The benefits to you are that (i) you (or your staff) no longer have to sit in front of the computer and type in a pile of suppliers invoices and (ii) you still have complete control over who gets paid and when.
Improve your cashflow, we will follow up overdue accounts so you don’t have to.
Making a sale and being profitable are key to business success but failure to collect your debtors can quickly affect your cashflow which represents the lifeblood of any business.
Our debtor management procedures have shown to reduce debtors and improve cashflow by 10-20%. The procedure is as follows:
We provide you with 3 template emails to modify and approve to send to your debtors so you control what is said and how we say it
We upload your logo on the emails to show the emails have come from your business but with our logo at the footer to show you have someone external managing this important function for you
We agree on the timing of the first email (ie. 7,14,21,30 days) after the due date of your invoice
If an invoice becomes outstanding for the agreed time (e.g. 14 days after the due date) then the first email is automatically sent out followed by 3 further emails a week apart
Once the debt has exceeded the time periods outlined in the emails and you haven’t heard from the debtor we either refer the debtor back to you or on to the collection agency for further action as we have agreed.
Some other points are:
There is an option to send out an email just before the debt is due (e.g. 2 days) as a friendly reminder that the debt is due for payment in a couple of days.
It is imperative that each customer email address and trading terms are entered correctly in Xero to ensure the client (a) gets the email and (b) gets them at the correct time.
Once set up you will either experience less time in following up debtors and/or an improved cashflow from being more proactive in collecting the money that is due to you. What would you do with some extra cash in your business??
Know how your business is actually performing, our monthly management report highlights key KPIs for your business.
Now that you have all your information readily available you will want to know what’s happening in your business so you can focus on managing and growing your business or improving its performance.
As part of our service we offer 2 reporting options.
The base option is a dashboard showing 5 of your business Key performance Indicators (”KPI’s). We select the most appropriate or important financial KPI’s for your business in conjunction with yourself and then provide that report within 3-5 business days after the end of each month.
The second option is a more detailed management report which includes financial and non-financial KPI’s. This can be provided for your internal use or in conjunction with your accountant or one of our partner accounting firms who understand how to make the most from these reports.
Our goal is to provide the information for you and your business advisors to review and identify areas to improve and grow your business – after all that’s what you went into business for!
Now that we’ve got the admin covered, you can focus on building your business!
Once we’ve set up your virtual back office we will issue you with a procedures manual specifically for your business and incorporating the templates and policies agreed during the set up phase. Everyone then has access to information on how the process works to ensure the initial implementation phase flows as smoothly as possible.
Now you can focus on the reasons you’re in business with the comfort of knowing your administration and back office is being handled for you.
You’ll be surprised at how quickly you will see growth and performance improvements once you’re focused on the productive areas of your business.