Challenge
Breathe Hair began as a sole trader business following the purchase of an established hairdressing salon. With limited initial bookkeeping experience, the owner required an efficient financial management system tailored specifically for the hairdressing industry, covering daily bookkeeping, payroll, BAS lodgments, and integrating their booking software, Fresha.
Our Approach
Figureworks Bookkeeping recognized the need for a specialized financial setup and ongoing support tailored to Breathe Hair’s requirements.
Key actions included:
Customized Xero Setup
We created a new Xero file for Breathe Hair, importing a tailored Sole Trader Chart of Accounts designed specifically for the hairdressing industry. This ensured accurate tracking of business income, expenses, and profitability.
Full Outsourced Bookkeeping
We provided comprehensive bookkeeping services, including transaction reconciliation, accurate categorization of expenses, and ongoing financial management.
Payroll and Apprentice Rebates
We established and managed a complete payroll system in Xero, processing regular wages, superannuation, and providing specialized assistance to secure government apprentice rebates.
WorkCover and Compliance
We set up and managed WorkCover, including the annual completion of the Declaration of Annual Remuneration, ensuring full compliance and accurate premium calculations.
Efficiency with Hubdoc
Implementing Hubdoc integrated seamlessly with Xero, streamlining bill entry by automatically capturing and attaching digital copies of all invoices, saving valuable administrative time.
Quarterly BAS Lodgment
We ensured accurate preparation and timely lodgment of Breathe Hair’s quarterly Business Activity Statements (BAS), providing peace of mind regarding compliance with ATO requirements.
Integration with Fresha Booking Software
Figureworks Bookkeeping provided detailed reporting and reconciliation support, matching sales from Fresha directly into Xero, and calculating accurate staff bonuses and room rental revenue.
Automated Invoicing and NDIS Support
We introduced repeating invoices for chair rentals and wellness room rentals, improving cash flow management. Additionally, we handled the invoicing for NDIS support, further reducing the administrative burden on the business owner.
Outcome
Since partnering with Figureworks Bookkeeping, Breathe Hair has experienced streamlined financial management, reduced administrative overhead, and enhanced clarity around business finances. Our Xero-based solution and ongoing support empowered Breathe Hair to focus entirely on providing excellent service to clients and confidently growing their salon.
“Figureworks Bookkeeping has completely transformed the financial side of our salon. Their proactive support, deep understanding of our industry, and Xero expertise have saved us time, simplified our processes, and allowed us to grow confidently. We couldn’t recommend them highly enough!” – Breathe Hair
