Case Study I

(as per report on the  2sd September 2014)

1)     The Customer and the Challenge

The customer had no systems in place and was writing codes on bank statements.  He has two entities : a painting business and an automotive business.  There challenge was one business was not GST registered and the owner was paying expenses and receiving money from the wrong
bank accounts and hence an accountant’s nightmare.  Plus he had too many bank accounts both business and private.

2)     The Journey

Leigh-Ann from Accounts Online and I helped to reconstruct 12 months worth of data.  In the process he wanted us to relook at his GST as he thought his old accountant had made a mistake.The accountant never recorded any assets in his financials and for his businesses it was obvious that he had to have assets to run his businesses.I suggested he obtain a registered valuation of the assets and then he could claim back some more GST.

3)     The Results

Customer received a GST refund , and was pleased with having his accounts up to date and not having to manually code bank statements

Happy ending...