Client Background
A medical spa offering aesthetic treatments such as Botox, laser treatments, and skin rejuvenation needed bookkeeping support after struggling with tracking service-based revenue, retail product sales, and membership programs. The client hired Development Theory to help with bookkeeping for a medical spa.
The Challenge
Multiple Revenue Streams: Income came from one-time procedures, monthly memberships, and product sales, making cash flow tracking difficult.
Inconsistent Expense Categorization: Purchases were miscategorized, making it hard to track profitability.
Unclear Financial Health: The owner couldn’t determine which services were most profitable.
Inventory & Supplier Management Issues: Product restocking was based on guesswork, leading to cash flow issues.
Our Approach
Revenue Segmentation Implementation: Created separate income categories for services, memberships, and product sales.
Expense Categorization & Profitability Analysis: Reclassified expenses by category, ensuring proper reporting.
Inventory & Cash Flow Syncing: Implemented inventory tracking in QuickBooks to optimize supplier orders.
Membership Revenue Projection: Forecasted recurring revenue trends, helping plan for seasonal fluctuations.
Monthly Reporting & Owner Training: Provided customized financial reports and trained the owner to read profit & loss statements.
The Solution
Improved revenue tracking, making financial decision-making easier.
Identified top-performing services, allowing for better pricing adjustments.
Optimized inventory purchasing, reducing cash flow strain.
Ensured tax-ready books, making year-end tax filing smoother.
Results & Impact
Revenue visibility improved by 90%, helping the owner make data-driven decisions.
Saved $15,000 in unnecessary product overstock purchases.
Identified underperforming services, allowing for pricing adjustments that increased profitability.
Bookkeeping time reduced by 50%, freeing up time for client management.
Client Feedback
"Now I know exactly where my money is going, and I can focus on growing my business instead of stressing over finances!"
Development Theory Can Help Business Owners Like You
Struggling to keep your books in order? Accurate bookkeeping is the foundation of a healthy business—it helps you track cash flow, manage expenses, and prepare for tax season without stress. At Development Theory, our Bookkeeping services ensure your financial records are organized, accurate, and up to date, so you can focus on growing your business instead of worrying about spreadsheets. Whether you need monthly reconciliations, financial reporting, or QuickBooks support, we’ve got you covered.
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