Sector: Logistics
Services: Virtual Finance Manager (VFM) · Month-end review · Bookkeeper training · Xero system fixes
The problem: a key accountant gone with one month’s notice
This logistics company had built its financial operations around one person. When that person left with just a month’s notice, the void was significant. The replacement bookkeeper came in at a more junior level, and there were already serious discrepancies between the company’s sales and purchasing system and its Xero accounting software.
The business needed financial control but lacked the internal expertise to restore it quickly.
What Ascentis did: a Virtual Finance Manager service
The company engaged Ascentis to implement a VFM (Virtual Finance Manager) service. This meant the bookkeeper processed transactions through the month, while Ascentis performed a thorough month-end review scrutinising the balance sheet, P&L, and VAT returns.
We also trained the new bookkeeper, developed a bespoke month-end bookkeeping checklist, and worked through the system integration issues to get Xero aligned with the company’s source data. A budget was developed to give the director a proper view of business performance. Recommendations were made on operational improvements including how to minimise idle funds to maximise interest earned.
What changed
- Management accounts produced in line with client expectations — accurate and on time
- Cost savings compared to appointing a qualified in-house accountant
- Reduced stress for directors and staff, with improved financial information and clearer processes
- Better financial visibility for directors to make informed decisions
The result
A business that could have been destabilised by one departure instead came through with stronger systems, a trained bookkeeper, and financial information it could actually rely on.