INTRODUCTION
A client who was running a theatre needed a bookkeeper to rectify the discrepancies in the books. Mercurius helped them in the proper maintenance of books as well as extracting the reports that they originally were not able to get.
DISCUSSION
The client operates a national theatre in Ireland. It is a group that works in Ireland’s rich folklore through the art forms of dance, music, and song. Out of a series of sketches created by Father Pat Ahern and performed by Siamsoiri Na Riochta in 1963, a professional theater company grew.
REQUIREMENTS
The Company maintained books of accounts in bookkeeping software- Sage 50 and Xero. They faced issues in bookkeeping after transferring the data from Sage 50 to Xero. Also, they did not have proper employees to look after their accounting requirements. The previous bookkeeper did not provide the client with the final financial reports, so they had to perform the accounting themselves.
SOLUTION
Mercurius is owned and run by professional accountants who are well-versed in providing bookkeeping services to clients from different business sectors. We allotted one of the best professionals in our team to the client, to resolve all the challenges faced by them.
After assessing the books of the company, we found that there were many irregularities in the accounts maintained in Sage 50 and Xero. The client approached us to perform bookkeeping for them in Xero about the data maintained in Sage 50. We faced some difficulties in fetching data from Sage 50 since its access was available to the client only. On reconciling all the customer and vendor balances in Xero from Sage 50 for the year 2021, we established that the number of invoices and bills did not match in both the software.
Our experts brainstormed to reach a systematic approach to rectify the accounts. We updated client books with accurate categorization of transactions, maintaining proper Accounts Receivable and Accounts Payable reports. To avoid missing even a minute’s transaction made by the client, we created a tracker. Further, there was no backup for the work process maintained by the accountant before us. Thus, we had to prepare our work processes for keeping the books up-to-date. Along with this, we also solved the problem of maintaining payroll entries in Xero, since our client was struggling with the same. For this, the client was thankful. After resolving all the problems, we shared the financial reports with the client to check the transactions themselves.
CONCLUSION
a new client, who faced issues with bookkeeping due to inaccuracies in the accounts. On contracting Mercurius, our team of experts studied their books carefully and then sorted every transaction. The client was highly satisfied with our services and was able to operate their finances in an improved manner. Their bills and invoices, along with payroll are intact under our supervision.
