The logistics industry is fast-paced and demanding, and accurate financial reporting is essential for any business looking to maintain its competitive edge. One of our clients, a growing logistics company, was facing challenges in their internal bookkeeping processes. With an eager junior bookkeeper in place, the business was at a critical point where the lack of experienced financial oversight posed a significant risk to their operations.
The Challenge
Their current junior bookkeeper was ambitious and ready to develop their skills, but the company lacked an experienced mentor who could provide the necessary guidance. This created a dual concern for the business. On one hand, they faced the possibility of losing the employee due to the absence of professional development opportunities.
On the other, the Director felt forced to involve themselves in the daily financial operations, which pulled them away from focusing on the company’s strategic growth. There was also the risk that the business would need to hire a more experienced (and costly) bookkeeper or accountant.
The Solution
Recognising these challenges, we worked with the client to offer a customised solution by adapting our VFO Plus service to better meet the client’s needs. Initially, Ascentis was responsible for performing the majority of the client’s month-end financial tasks.
However, as part of our tailored solution, we gradually transitioned these tasks to the in-house team. This transition began with the implementation of a structured bespoke bookkeeping training programme for the junior bookkeeper. By providing hands-on training and guidance, we helped empower the bookkeeper to manage the month-end process with greater independence and confidence.
In addition to the bespoke bookkeeping training, Ascentis continued to provide critical support through monthly reviews of the balance sheet, profit and loss accounts, and VAT returns. This ensured that the company’s financials were always accurate while allowing us to identify opportunities for further process improvements.
To help improve the client’s internal financial operations, we developed a bespoke bookkeeping checklist. This detailed guide outlines essential month-end procedures, cut-off processes, and key system tasks, ensuring that the bookkeeper followed a consistent and efficient workflow.
The transition was not just about managing the day-to-day transactions. We worked closely with the company’s Director to develop a comprehensive budget, which allowed them to focus on business performance rather than being bogged down by the minutiae of financial management. The introduction of regular monthly review meetings between Ascentis and the Director helps make sure that the business stays on track toward its growth goals.
The Value Added
With the right support on hand, the junior bookkeeper quickly developed the skills required to handle their responsibilities independently. The Director felt like they were able to concentrate on their role without worrying about the financial operations or performance of the bookkeeper and helped create a more relaxed and focused management team, with the confidence that their finances were in capable hands.
By streamlining their internal processes and ensuring the bookkeeper’s growth, the company is now better positioned to manage its financial operations while focusing on long-term growth.
Whilst we don’t specifically advertise training within accounting or bookkeeping, we are happy to help business leaders solve issues and problems within their business and we’re proud of our team that helped deliver this project. If you have any finance or bookkeeping issues that you need support with, get in touch with our team today.