Sports Accounting Australia have successfully converted more than 30 Sporting Organisations onto Xero Accounting and have received glowing testimonials from many National and State Sporting Bodies.
Their services are targeted to provide benefits to;
- Members (security of funds and enhanced decision making on investments),
- Board (governance and business continuity during staff turnover)
- Management and Staff (efficiencies to make the most out of limited resources)
With this knowledge, Softball Victoria knew their business would be in safe hands when SAA transitioned their accounting software from MYOB to Xero.
With the help of Sports Accounting Australia, here are some of the benefits Softball Victoria achieved from their Xero conversion and ongoing support:
Better Management and control over budgeting and forecasting
Softball Victoria have, overall and individual program budgets which has improved transparency over coding and has improved clarity of both overall business performance and programs. This improves the cost management of the program and decision making.
Clearer and Customised Reporting
The ability to track income and costs to 2 levels has enabled Softball Victoria to simplify their chart of accounts and therefore reduce complexity and coding errors.
Access to customised reports for both departments and individual jobs allows for easier analysis of variances to budget and enables summarized reporting for the Board.
Easier Expense Claim and Credit Card Management
With the ability to lodge credit card or expense claim receipts on the go, Credit Card reconciliations are easier and efficient. Xero enables photos of receipts to be uploaded via mobile phone any time and be attached to the Credit Card transaction, avoiding those missing receipts.
Reduced Payroll Administration
Xero has reduced payroll administration at Softball Victoria by 40% via;
- Employees process timesheets and leave applications online via computer or mobile phone
- Automating Superannuation to be a 5 minute process from start to finish
- Giving Employees the ability to access their own previous payslips
Enhanced Corporate Governance
With the ability to attach a PDF file to transactions, and an electronic signature being applied to every transaction when it is created, modified and approved, Softball Victoria have total visibility over transactional history.
Allowing Auditors access to the Xero file and their ability to easily drill down and view attached PDF documents on nearly all transactions reduces time in requesting and providing documents and therefore reduces their time spent on data review.
Greater Process Efficiencies
Softball Victoria established automatic bank feeds, including their PayPal account, for easy reconciliation of transactions. This has eliminated daily printing of bank statements and reduced data entry.
Xero gives Softball Victoria the functionality to raise purchase orders before committing to expenditure which has enhanced efficiency and cost control. Bills can be sent electronically to the appropriate staff member for approval. Payment occurs electronically via an ABA file to be uploaded directly to the bank. This process improvement significantly reduces the risk of transposition errors.
By providing customers a link on invoices to pay via Softball Victoria’s Stripe account they have reduced average Debtor Days and improved Cash Flow.
For further information please contact Steve Gatt:
0419 416 195
steven@sportsaccounting.com.au
The Sports Accounting Australia team from left to right: Michelle Ryan, Nateleigh Gleeson, Jeremy Gleeson, Tracy Channon, Simone Gatt, Steve Gatt and Andrea Smith
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