Case Study: Jar Goods

FOOD ENTREPRENEURDIGITAL AGENCY OWNERSSTARTUP FOUNDERSSMALL BUSINESS INNOVATORS

Graduates of the Chobani Food Incubator, the Jar Goods team was fully aware they needed additional support with their accounting and bookkeeping. Before engaging with Accountfully, the books were managed by the two business owners, neither of whom were accountants. Their focus was on perfecting their product and scaling the business, not month-over-month reporting on the cost of goods sold or gross profit of the company. Their success was a clear indication they needed an accounting solution that would create efficiencies and have a better way of planning for future growth.

What We Did

Implemented cloud based systems to handle all bookkeeping tasks

Established month-over-month reporting for cost of goods sold to give us better insight to:

Created an 18 month sales forecast by SKU to understand expected revenues, implement a company budget, and design an inventory purchasing plan

Had strategic conversations about raising capital and what that capital would be allocated to:

The Impact

These reports, forecasts and metrics have improved Jar Goods’s fundraising efforts. The business is now able to define how much money they need to raise in order to support themselves for the next 12-18 months. They can also identify what the money will be allocated for whether it be inventory, sales and marketing, or working capital. This additional data has enabled the Jar Goods team to forecast cash flow for six to nine months and helps them plan in ways that they were previously not equipped to do.

"We knew it was time to really start developing the financial aspect of our business in a more meaningful way. Being a CPG company comes with its own set of accounting challenges. Accountfully successfully sifted through everything, providing us a clearer picture of where we stand and what we need to do to get where we want to go."
Melissa Vitelli, Founder

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