The power of effective bookkeeping: real-life success stories

When a bar owner I worked with went from operating at a loss to turning a profit within one year, it wasn’t just about getting the numbers right—it was about understanding what their business needed and building a system that would set them up for success.

Bookkeeping is the foundation of the accounting cycle and can directly affect a company’s growth, especially for startups. Too often, founders get caught up in the daily operational tasks when they should be focusing on other key areas like strategy, marketing, and funding. That’s why my job exists.

As a bookkeeper and management accountant at Gilligan Sheppard, it’s my job to help businesses save time (and money), become more efficient, and achieve their goals. These are just some of the real-life success stories I’ve played a part in.

Turning losses into profits

As I mentioned earlier, I recently took on a client who had opened a new bar in the Auckland CBD. Prior to coming to us, they were struggling to organise their systems and were operating at a loss. We helped them set up their business structure, implement proper payroll systems for their complex shift work, and manage commission arrangements. The challenge was significant, with numerous daily transactions and complex payroll requirements.

I worked hands-on with the owners through regular training sessions, teaching them how to manage their financial systems effectively. We met weekly at first, gradually transitioning to monthly check-ins as their confidence grew. Today, I’m proud to say they’ve turned the corner from initial losses to consistent profitability and have employed around 24 staff members. It’s particularly rewarding when I visit their establishment and see how far they’ve come—they’ve even referred other bar owners to us.

Small-time player to supermarket favourite

When a small-batch drink brand was struggling to break even, they heard about and reached out to us at Gilligan Sheppard. We had a look at their books, and we ensured we understood the product and their vision. Using our cloud-based tools, we helped them pinpoint the most profitable flavours and optimise production costs. We also connected them with local business networks and coached them on pitching to retailers. When a major supermarket chain expressed interest, we were there to help navigate the financial negotiations. Today, the drink line is a supermarket favourite, and they see us not just as accountants but as key players in their success.

Streamlining international operations

Another project that stands out was helping a global recruitment agency with offices across the UK, Canada, New Zealand, and Australia. When they came to us, they were struggling with complicated procedures, disconnected teams, and financial information that was difficult to understand.

We took a comprehensive approach: restructuring the entire group, streamlining procedures, and helping build a more efficient team. I even assisted with interviewing and hiring a new bookkeeper in the UK who could better support their international operations. Seeing them now operating as a cohesive, efficient organisation with clear financial visibility across all regions is incredibly satisfying.

The human side of bookkeeping

I often tell my clients that bookkeeping is like housework—it’s a necessary process to be organised. Many clients come to us facing penalties, interest charges, and disorganised books, and I work with them to:

• Review and simplify their chart of accounts to match business operations
• Create clear procedures for teams to follow
• Help implement cloud-based solutions like Xero for better efficiency
• Train staff and business owners in better financial management practices
• Provide ongoing support until systems run smoothly

With my engineering degree and commercial background as a senior accountant for a global company, I approach each challenge with a logical mindset. I’m constantly learning about new technologies and finding ways to help my clients use tools like Xero to their full potential.

Building foundations for success

In my role, bookkeeping is the foundation for strategic business planning. By ensuring data is processed accurately and timely, I create a solid base for business owners and our virtual CFOs to make informed decisions about their company’s future.

I believe in investing extra time upfront to get systems running smoothly, even if it means taking a short-term loss to build a strong, lasting relationship. This patient, thorough approach has helped me build stable, long-term partnerships with businesses of all sizes.

Throughout my career, the most rewarding aspect has been working directly with people and solving problems. Whether you’re starting a new venture, struggling with complex financial systems, or looking to streamline your existing operations, I approach each situation with patience and dedication. After all, I’ve learned that good bookkeeping isn’t just about maintaining records—it’s about creating the foundation for business success.

If you want a commercial partner at your side who also completes your bookkeeping without adopting a “cookie cutter” approach and finds ways to make obtaining the information you need easily available, please give me a call.