How we helped one client move into her dream home
Our client was living in a cramped house with her teenage son and it just didn’t feel like home. It wasn’t a good environment for her or her son and it was causing her a lot of stress.
The problem was that she didn’t have a clue about how her business was doing financially. While she would see her financial accounts on a yearly basis, they weren’t explained to her. They were also historic figures from 18 months ago.
This wasn’t a good indication of how her business was performing financially in the present. It also didn’t tell her what she needed to do to be able to afford to move.
What We Did
Working with her over a period of three years, we moved her accounts online to Quickbooks. Initially, she was reluctant as she didn’t like tech!
We inputted all her bookkeeping on a monthly basis, produced quarterly financial reports and had regular meetings with her. These figures were explained to her in a way she understood, rather than using accounting jargon.
We showed her how tech is actually her friend as she can see what the cash and profit position of her business is in real-time at any present moment in time.
She knew exactly what her sales and expenses were each month, and we discussed ways that she could reduce her costs.
Our client then used this information to make effective decisions that would help her business become more streamlined and more profitable, such as reducing expenditure on specific goods that weren’t selling, moving utility suppliers and restructuring the staff rota to be more efficient for everyone.
Over this period we kept a close eye on her finances and helped raise her profit levels by 40%.
Being a sole trader, it was a massive impact on her personal financial position as mortgage advisors use the profitability of the company to assess the viability of lending and whether she would, therefore, be accepted for a mortgage.
She then started looking for her dream home because she knew she could afford it. Six months later, our client found it and within two months of her year-end accounts, her paperwork was prepared for the mortgage advisor’s approval.
I’m happy to report that she is now in her dream forever home and loving it!
It is so heartwarming to know that we helped her achieve this. This is why we love what we do.
We help people have what they really want in life. We change people’s lives for the better.
If you want an accountant that explains your business’s cash position without jargon so you can achieve your dreams and improve profits, then contact us today. Email [email protected] or visit our website.