Calxa Case Study – The Herb Booth
Just this week I saved $5,000 by reviewing my expenses and changing one of my suppliers. I wouldn’t have been prompted to do that if I hadn’t been using Calxa’s cashflow forecast.
Chris Booth, founder and CEO of The Herb Booth, was growing increasingly frustrated with the amount of time he was forced to spend on spreadsheets to forecast his cashflow. To sum it up, with a young, growing business he had a tight budget but was in real need of an accurate, time-saving financial reporting tool. Calxa Express proved to be the solution to his problem.
His spreadsheet was complex and full of inconsistencies. In many instances, he found it difficult to manage different GST codes; a struggle to keep P & L, Balance Sheet and Cashflow aligned. In addition, it was very easy to break or override formulas. In contrast, Calxa Express quickly provides a cashflow forecast that Chris says is “accurate to the cent.”
The ability to foresee in advance when cashflow will be short is a great advantage to Chris. As a result, it enables him to be proactive in identifying potential cash shortfalls and then take action in advance to rectify them.
“Just this week I saved $5,000 by reviewing my expenses and changing one of my suppliers. I wouldn’t have been prompted to do that if I hadn’t been using Calxa’s cashflow forecast.”
Impressing the Bank
When applying for a bank loan recently, Chris’s bank was very happy with both the presentation and the accuracy of his cashflow forecasts.
“The fact that they married up with the Profit & Loss and Balance Sheet reports from MYOB certainly impressed them. .”
In the past he would have spent days making his spreadsheet readable and presentable and trying to make it consistent. Now, all he has to do each month, is open Calxa Express, run a report and print it.
About The Herb Booth
The Herb Booth is a convenient and reliable online provider and dispenser of Chinese herbal medicine – Australia’s only GMP licensed dispensary. The Herb Booth aims to save practitioners time and effort associated with dispensing their own herbs, while still allowing them to earn an income from the prescribed herbs, leaving them more time to spend doing what they enjoy most – caring for their patients.
- Organisation: The Herb Booth
- Cause: Wholesale Business
- Accounting System: MYOB
- Website: http://www.theherbbooth.com.au/