Cashflow Covered
Accountant Case Study

D&K Accounting and Satago

April 25, 2022 | 2 minutes

D&K Accounting is a Doncaster based cloud accounting firm, providing bookkeeping, compliance payroll and personal wealth management services, the practice specialise by helping small businesses with their profit first approach. This is a cash flow system based on three principles:

  • Paying yourself first
  • Ensuring clients account for VAT properly so they don’t have to dip into savings
  • A focus on generating a profit

The firm was established by Daniel Edwards in 2016 when he had the opportunity to buy out some clients from his employer. One of Daniel’s first decisions was to move his new client base away from paper records and onto a cloud system. Along with his team, Daniel started moving clients onto QuickBooks and Dext – leading to dramatic decreases in the time spent on bookkeeping. This, in turn, turned bookkeeping into a highly profitable service line.

He noticed that one small business client had a large debtor book of around £30,000 outstanding with some of the overdue invoices reaching 9 months in age!

Daniel headed to the Digital Accountancy Show to find a solution for his client and was drawn to Satago based on it “fitting the gap perfectly” and coming in at a competitive price point.

The client didn’t need much persuading to try Satago after Daniel explained how it could help them, and the only input they needed was a face-to-face meeting to confirm the wording they wanted to use for email reminders.

Daniel found Satago was simple to set up and run:

“We just linked it to QuickBooks and when invoices went past the basic due date, automated messages would go out. All communications and automated messages are in one place so it’s easy to keep track of what is going on.”

Daniel Edwards

Once Satago was implemented the outstanding debtor book was reduced down to £1500, with all outstanding invoices being paid within 30-45 days.

Daniel says: “The client was really happy due to them getting a £30,000 cash injection. They used these funds to expand, take on more staff and new computers, as well as going on holiday and fun stuff too!”

The success of Satago significantly enhanced the client relationship – the business’ fees doubled, but the client was happy to pay.

D&K accounting now plans to roll out Satago to the rest of their client base. They’re identifying those most in need by connecting all their clients to a free version of Satago, then reviewing their debtor books and client risk profiles using Satago’s Portfolio Overview.

It’s a win win for everyone!

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