Landiwe Nene
Hiring a dedicated bookkeeper and introducing an accounting software package into her business, Enzani Technologies, has helped Landiwe Nene to manage her finance better while saving time and money. When Nene started her electrical contracting business, her basic financial skills enabled her to cope with invoicing, but the problem came when the business expanded from just doing consulting work to carrying out actual installations.
It was then that she began to battle to match the company’s purchase orders with invoices received from suppliers. She said they would often sit “for days” going through Excel spreadsheets in an attempt to reconcile her accounts. Her suppliers threatened to close her accounts when she couldn’t pay.
“Your credit reputation just goes down the drain,” says Nene who, fearing for her business, often ended up overpaying suppliers because she couldn’t match the invoice to the purchase order. She also landed up shelling out extra in auditing costs when her business converted to a registered company and auditors battled to reconcile her books.
Since hiring an in-house bookkeeper and purchasing accounting software, after advice from her mentor, Nene says things are going much better as she now has a system which allows her to track orders and draw up statements any time.
