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Profile

Samantha White Speech Pathology provides services to participants who are funded through the National Disability Insurance Scheme (NDIS).

Samantha received Transition Assistance Funding, intended to build an organisation’s existing systems, processes and overall readiness to sustain or expand services as a registered NDIS provider.

Executive
Summary

Samantha has historically managed the business finances and records manually through excel but recognised that this would not be sufficient or practical going forward.

She made the decision to move to Xero instead.
Based on a referral from another speech pathologist, she sought training from Swag Bookkeeping.

 

Goals

Samantha was keen to achieve enough understanding of the Xero processes so that she could reconcile her accounts, invoice her clients and record their payments, and to have a trusted advisor to call upon if necessary.

Samantha wanted to be confident that her records were correct and would produce reliable and professional reports.

CASE STUDY

Getting started with
XERO

Challenges

Samantha needed to be able to invoice her clients straight away.


As a condition of funding, financial reports were required that were not available in Excel.


Samantha had no experience with Xero.


Process

During a two hour on-site visit



  • a trial subscription was established
  • bank feeds were set up
  • missing bank and credit card transactions were manually imported into the file
  • opening balances were recorded
  • the Chart of Accounts was modified to reflect the income and expense categories that Samantha had been using
  • the invoice template was modified to include the business details, banking details, payment terms and logo
  • services were set up as items
  • a process for recording expenses paid with personal funds was established
  • bank rules were set up

Results

Samantha was able to start invoicing her clients straight away

She is able to record payment of client invoices when received.

Samantha achieved a good understanding of expense categories in the Chart of Accounts and reconciles the expense transactions.

Working together, we ensure the accounts give a crystal clear picture of her business results, and Samantha can provide financial reports to the funding body with confidence

Swag Bookkeeping provides phone support as needed. Problems and issues are addressed as they arise, without the need to send off emails to Xero Support to await their reply.