Helping new businesses start up, ensuring their finances are in good hands

Jarrod White, Director of InGear Mechanical came to us, new to business as a start-up. He needed assistance with choosing the right software for their business and GST registration, BAS preparation, and income tax returns. He required some help with data entry, payment of suppliers’ invoices, bank reconciliations, and account management.

Our goal for our clients is to ensure they have peace of mind when it comes to their financial operations. InGear Mechanical’s desired outcome when coming to us was for us to focus on the finance side of the business, so they could focus on the internal growth of the business.

Offering customised solutions, tailored to the individual's needs

Based on Jarrod’s available times, we recommended that the best solution for Jarrod would be to undertake invoicing at the time of service while having our team undertake financial management.

This decision allowed Jarrod to achieve the business’ operational objectives for his new business start-up plan.

After identifying Jarrod’s plan, we took action to create the necessary steps in implementing his solution.

We began by starting the integration process with Jarrod’s chosen management software (Workshop Mate), alongside Xero, an online accounting software.

As well as this, data entry for creditors and payment was initiated, weekly bank reconciliations, BAS preparation, and income tax return were all set up.

We established payroll for the new apprentice and prepared weekly pay runs. Since then, Jarrod has employed an Administration Officer who took over most of the day-to-day finance activities.

We now oversee the file weekly to review higher-end finance tasks, pay bills and hold the Administration Officer accountable for their employment tasks.

The outcome of our offered solution

“I am confident that the best practices have been implemented. The processes are efficient, and the latest and most suitable technologies are utilised,” Jarrod said.

“It has saved approximately five hours of work each week by outsourcing that I can spend on the business.”

InGear Mechanical has engaged our services from the get-go. They were so confident that their systems were set up correctly from the start.

We have taken care of all lodgement obligations, creditors, and payroll. This has meant Jarrod has had peace of mind that he can work in the business, and we will take care of the rest.

“Since going to the team at Balanced Beans, the business has grown substantially. The service they have provided us with has grown to meet the evolving needs of InGear Mechanical,” Jarrod concluded.

If you are looking for an extra hand meeting your financial goals, look no further than our team of professionals.

Let us take care of the numbers, so you can focus on your customers.

Contact us today to find out more.