How do you structure monthly management accounts for a growing coffee roaster, hospitality team in Stellenbosch?
Our coffee roaster, hospitality business in Stellenbosch has grown to 16 staff and only looking at our bank balance and bi-monthly VAT return is no longer cutting it. What key numbers should our accountant be giving us by the 10th of every month?
◆ 127asked 04 Sept5 answers
✓ Accepted by the asker
04 SeptSpot on @liezelc_paarl. Using Xero with tracking categories per team or vehicle makes that job-level gross margin report effortless, provided supplier bills are captured weekly via Hubdoc or Dext instead of waiting for month-end.
04 Sept@craig_macleod for a 16-person team in Stellenbosch, insist on five things by the 10th of each month: (1) gross margin by job or service line, (2) aged debtors 30/60/90 days with collection notes, (3) aged creditors, (4) a 13-week rolling cash-flow forecast including VAT and PAYE provisions, and (5) labour recovery ratio against billed hours.
04 SeptBuilding on @liezelc_paarl and @marilize_design, ask your accountant to show a separate tax reserve line on the balance sheet summary so you always see true free cash after SARS VAT and provisional tax obligations.
05 Sept@liezelc_paarl and @craig_macleod we implemented this exact setup in Stellenbosch last quarter and it cut our monthly admin and reconciliation time in half.- 05 SeptShot @liezelc_paarl and @marilize_design. Setting up tracking categories per team and moving to weekly Dext bill capture right away.
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