Temporary staffing: Fixing upstream systems and bringing the accounts up to date
When invoices do not reach the accounting team in full, revenue figures and advance VAT returns lack a reliable basis. EGIDO reviewed the upstream systems of an established temporary staffing company and set up ongoing bookkeeping and payroll processes.
Starting point Where the business started
The clients had established their company, licensed to supply temporary workers, several years earlier. It employed around 100 people, including workers in industrial manufacturing. Under the previous accounting arrangements, revenue figures and advance VAT returns could not be processed on time with clearly traceable amounts. Annual accounts were also outstanding.
The challenges
- Invoices not transmitted in full to the previous accounting firm
- Revenue figures and advance VAT returns not processed on time with traceable amounts
- Incorrect accounting periods and outstanding annual accounts
Requirements The goals
The first step was to establish why invoice data was not reaching the accounting firm in full. At the same time, the affected periods needed to be reviewed, outstanding annual accounts completed and ongoing bookkeeping and payroll obligations addressed.
- Identify and correct the source of errors in the upstream systems
- Establish traceable revenue figures and review earlier periods
- Set up ongoing digital bookkeeping and payroll
The solution How EGIDO addressed the challenge
Reviewing upstream systems and correcting the source of errors
EGIDO reviewed the upstream systems and identified administrative errors that prevented invoices from being transmitted correctly to the previous accounting firm. The error was corrected, allowing revenue to be determined accurately.
Correcting earlier periods and completing outstanding accounts
After correcting the data transmission process, EGIDO reviewed and corrected the affected accounting periods and completed the outstanding annual accounts. This addressed both the ongoing process and the errors in earlier periods.
Establishing digital bookkeeping and payroll
Alongside the corrective work, EGIDO set up and managed ongoing digital bookkeeping and payroll. This allowed the obligations of the business with around 100 employees to be addressed while earlier accounting periods were being reviewed.
Providing ongoing advice
Beyond correcting the upstream systems and bringing the accounts up to date, EGIDO continued to support the clients with ongoing advice.
The result What changed for the business
The cause lay in the administration of the upstream systems: invoices were not being transmitted correctly to the previous accounting firm. Once this error was corrected, revenue could be determined accurately. EGIDO reviewed and corrected the affected periods, completed the outstanding annual accounts and established ongoing bookkeeping and payroll processes in parallel.
- Errors in the administration of the upstream systems corrected
- A reliable basis for accurate revenue figures established
- Affected periods reviewed and corrected, and outstanding annual accounts completed
- Ongoing digital bookkeeping and payroll established
Is all your data reaching your accounting team?
We help you identify errors in your upstream systems, clear accounting backlogs and establish reliable ongoing bookkeeping.