With 11 years in business, Sanjay and Harsha Mistry of Trackit247 had been left feeling bruised by their previous accountants. After too many sleepless nights and an oversight in their books that almost cost them £1000s, they knew it was time for a better, more meaningful approach to their finances.
Trackit247 offers GPS tracking solutions for businesses, personal, and security services across the UK, Europe, and the US. They can monitor anyone, anything, anytime. 24 hours a day, 7 days a week. They sell a range of tracking devices and provide bespoke security solutions for clients and software services. They also have mobile apps for both Android and iPhones so that customers can track live on the move. With the rail and construction industry among their client base, they are seriously busy! They have recently employed two new staff members to support their growth.
With so much on their plate and big ambitions for the future, Harsha and Sanjay knew they would need much more than just someone to do their books.
Harsha tells us more:
What was going on that prompted you to make the call to Meades?
“We’ve had two previous accountants. First, we changed because we were not getting any good advice, and then our second ended up costing us a lot of money. We didn’t get any communication and unfortunately, the relationship fell apart.
A big concern was that we were moving from Quickbooks to Xero. We’d been promised some help through this process which didn’t materialise. We were learning by ourselves – and I’m not trained as an accountant so I was nervous. I actually picked out a mistake in our books that nearly cost us over £6K. We felt very let down.”
Did you have any concerns about moving your accounts to Meades?
“We were a bit apprehensive because of our past experience. My main concern was having to switch again – we just wanted good advice. Not just accountancy advice; any accountant can ‘do the books’. We wanted someone to help us develop our business.”
How have you found the process of migrating your accounts?
“Our Account Manager Debbie is amazing, she’s really helped me through. She’s very meticulous about everything and is helping me to understand our books. We have a good rapport from working together every day. There should be trust when you’re dealing with finance, and I definitely trust her.”
What have you taken away from your initial meetings with Paul and the team?
“They’re honest about things and transparent. They understand what our next steps need to be, and they’ve made us feel very comfortable. We feel they’ve given time to us, to understand our business and support us through the migration. Now if I call they literally pick the phone up straight away and answer my questions. This is so important, to be acknowledged and feel heard, and is very different to our past experience!”
What other aspects of the service have you found helpful?
“It was very important to me that the team are experts with Xero. The whole team has access to my accounts at any one time, so if one person isn’t in then another member of the team can help me out. They seem to all communicate with each other properly, which is good and a real help. They are flexible with their services, meaning that we can adapt to the needs of our business as we go along. I like that. I find it quite honourable – there’s nothing worse than feeling ‘locked in’ to a service that you don’t really need!
We’ve had a couple of meetings with Paul which have been brilliant as well. He has some good ideas and suggestions and we’re looking at the next steps we can take together to help us progress.”
What is your biggest cost saving so far?
“£9,555 is a fantastic saving on our personal tax. It shows that cutting corners like the old accountant tried to do has caused so many issues.”
How do you see your relationship with Meades developing in the future?
“Now we’ve got the accounts settled and it’s a finely tuned machine, we’re already starting to talk about other things. My biggest goal is for the business to start to work for itself, so that Sanjay and I can focus on the bigger picture, to develop and grow the business and invest in other areas too. That’s where Paul’s help will be invaluable – helping us to make informed decisions and make a plan. And budgeting too. This is what I’ve been looking for from the beginning!”
And finally, any advice to other business owners who are thinking about switching accountants?
“It depends on what you want for your business; if you want someone to just do your year-end and you’re happy with your accountant then great. But if you want more financial and business advice as well, I’d be more than happy to recommend Meades.”
Our sincere thanks to Harsha for sharing her story.
If you’re a growing company looking for support to get your finances on track, we’d be delighted to help.
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