cashflow forecasting, management reporting & operational efficiency

The Client

The Australian Publishers Association (APA), a Not-For-Profit organisation, is the national representative body for the Australian publishing industry. They champion the interests of Australian publishers, support industry development and learning, and promote the value of books and reading to Australian society.

The Project

APA’s CEO Michael Gordon Smith reached out to us in 2016 as their bookkeeping was restricted to data entry and compliance, without delivering any useful data for budgeting, cashflow forecasting or management reporting. Patrizia Di Biase-Dyson took over the APA’s leadership in 2024.

As a Not-For-Profit, the APA wanted better oversight of their financials and have access to financial tools that would enable them to focus more on delivering the organisation’s objectives.

“Rhys and his team have transformed our financial management, saving us many hours of time. The introduction of certain apps made finding information easier and faster while delivering consistently more useful reports.”

Michael Gordon Smith

The Challenge

The APA’s bookkeeping approach meant the organisation did not have access to any useful data to predict monthly income and expenses or cash flow. Consequently, management and board reporting was impossible so the Board spent a large portion of their valuable time worrying about the organisation’s financial health.

Our problem solving approach included:

1. Financial services

We take care of:

• Monthly Reporting
• Accounts Payable & Payroll
• Bank & Credit Card Reconciliations
• BAS & IAS plus related reporting such as STP, Super, etc.
• Loading member invoices and managing open AR

We act as the APA’s accounts department, handling the day-to-day accounting function ensuring service continuity.

3. Monthly reporting

We work closely with APA’s CEO and Treasurer to deliver monthly reporting and run a quarterly Audit Committee meeting.  

We provide monthly reforecasting of income and expenses, enabling the Board to focus on delivering the organisation’s objectives instead of spending most of their time on the APA’s financial situation.

4. Process automation

After a thorough analysis of APA’s financial processes, we implemented:

• Calxa for management and board reporting as well as cash flow forecasting
• Approval Max for purchase orders
• Weel for credit card payments  
• Dext for supplier bills

In addition, we developed day-to-day procedures to optimise the APA’s financial processes.

5. Additional support

As financial experts in working with Not-For-Profits, we were asked to help with Grant Acquittals, develop a Fixed Asset Policy, advice on Cyber Security, and other relevant issues.

“As a Not-For-Profit, we wanted more than just a bookkeeping service. One of our priorities was to find a reliable service that could provide more than data entry and compliance. Viridity has delivered this, and much more.”

Patrizia Di Biase-Dyson

The Result

The APA has benefited not only from efficient and streamlined day-to-day bookkeeping but has also reaped the rewards in terms of high-quality monthly reporting and a quarterly Audit Committee meeting, including monthly reforecasting of income and expenses.

The Board now has continuous financial oversight empowering them to focus on delivering the organisation’s objectives in stead of of worrying about the organisation’s financial health.

Since the introduction of Calxa as a cash flow forecasting tool to help predict rolling balances for the next 12 months, we have optimised the placement of surplus cash into Term Deposits boosting the organisation’s income.

We work closely with the auditors to manage the year end audit process, including the reconciliation of all balance sheet accounts.

We continue to work with the APA to propose improvements and deliver best practice financial management.

“The team at Viridity is always happy to problem solve when issues arise, and they genuinely care about our organisation.”

Patrizia Di Biase-Dyson

Our Expertise

Our staff include payroll specialists, accountants and bookkeepers who understand the unique needs of Australian SMEs. Find out the 10 reasons why Australian SMEs choose to partner with us or read client testimonials.

We can help with bookkeeping, carbon accounting, management accounting, payroll and accounting software selection & implementation.

We work with Ecommerce & Retail, Import & Distribution, Manufacturing, Not-for-Profits, Professional Services and Software Developers.

Interested in working together? Contact us to tell us about the financial and operational challenges your business is currently facing.