“Our work with Ledger made us feel educated, empowered, and confident in our business finances.” —Jenn Cash, Principal
Language Dept. is a team of talented designers headed by Tanya Quick & Jenn Cash. They came to Ledger in early 2018 with a problem we see all too often: the lead accountant for their business was not an accountant at all, but a team member. (A busy artist who crammed managing the business finances into an already busy project schedule.)
Their business flourished, but the reactive, insufficient approach to financial organization and planning they had in place left the partners feeling uneducated and anxious about their cash flow.
Ledger approached their challenges by outlining a series of prioritized goals:
- First, we needed to bring the existing accounting process into this century.
- Second, we had to work together to create reports meaningful to Tanya & Jenn.
- Third, it was vital to create a realistic operating budget and cash-forecasting process to guide company focus.
With this core checklist front and center, we set out to give Language Dept. financial peace of mind.
Ultimately, we updated their accounting process by identifying key technology and migrating data. We then set up their data to feed into weekly cash flow reports and enable cash flow forecasting. This allowed us to model many scenarios across a select span of time (up to a year) and compare them.
Our banking relationship recommendations opened up new opportunities for cash management to Language Dept., which created breathing room for them. We set up weekly reviews to go over the forecast and models. With this consistency, we helped ensure the client stayed on the right track.
Language Dept. gained immediate clarity on the predictable ebb and flow of payables. Now armed with knowledge, we put resources in all the right places to weather seasonal dips in revenue or lags in accounts receivable. By the end of our first year together, Jenn & Tanya had a sizable cash runway that didn’t exist before.
Even more important, they had a solid understanding of their business finances in a fraction of that time.
Let’s get started.
Careful attention to the unique needs of your business is important to us. Because of that, our founder is ready to connect with you personally to discuss your challenges and answer your questions.
Brianna assesses each business on a case-by-case basis to help determine the level of potential readiness for Profit Coaching, commitment to successes, and responsibility for the outcome.