Blankslate Partners’ Bookkeeping Refresh
Blankslate Partners is a boutique human resources consultancy firm that provides simple, scalable HR solutions for growing businesses.
Izzie had just bought out her business partner in Blankslate and became the sole owner. She came to Enkel because she was unhappy with her accounting service provider. She had noticed errors in her previous accounting records and needed an expert to straighten things.
How Enkel Helped
Izzie’s primary goal in partnering with Enkel was to get more out of her bookkeeping service provider. As a new entrepreneur, she wanted a deeper understanding of her company’s financial status and growth potential.
When we first met with Izzie, Blankslate’s documentation system was disorganized, making it difficult for Izzie to track her cash flow. Today, all of Blankslate’s transactions are supported by receipts that are retained in the cloud and matched to transactions in Xero.
The accounting system we inherited was riddled with inaccuracies. We went back to the last year end to straighten out the opening balances for the year. Izzie now has full visibility on her finances, and peace of mind knowing everything is reconciled accurately.
In the past, Blankslate struggled to apply credit card transactions to the correct invoices, creating inaccurate accounts receivable data. When the payment processor credits multiple transactions in one lump sum, we check the details on the payment and ensure the funds are credited to the appropriate transactions.
How Enkel Helped Blankslate Partners
After we cleared up Blankslate’s historical accounting discrepancies, we designed a workflow for monthly reporting that makes it easy for Izzie to send us her receipts and records. Izzie now has a well-documented digital paper trail to support Blankslate’s accounting transactions.
Invoicing is a critical function for Blankslate. Izzie wanted to stay with FreshBooks because it worked well for her clients. There is no direct connection between Freshbooks and Xero, so Enkel had to be creative in developing a process to accurately replicate transactions in Xero.
Izzie was interested in learning more about her cash flow, income statements and balance sheets to make better business decisions. 10 days after month end, she receives a set of monthly financial statements. Enkel has helped her understand her company’s financial health. Izzie has calls with her dedicated Enkel team to help her understand her reports.
Today, Izzie is a more confident business owner who has full visibility and a clear understanding of her company’s finances. The reports that we provide to Izzie have helped her better understand how she can continue to grow her company and improve profits.