Providing quality accounting services to small businesses
Don Veeto is an online wine merchant based in London, offering premium quality organic and sulphite-free wines from around the world to the public in the UK.
It was set up in 2016 by Edoardo Spina, an Italian citizen whose background is in the financial sector in London.
Edoardo found Approved Accounting in London, and we were delighted that he asked us to help him set up his new enterprise.
Startup phase – systems
A large investment was needed in the early stages, principally to establish a live stock system linked to both the website and company financials. We helped to select the right system (we opted for Dear Inventory), set it up and get it integrated with Xero and WooCommerce. This included importing and linking product SKUs, setting up ‘bundles’ to correctly update stock and the accounts when products are bought and sold. We worked with the company’s web developers and warehousing company to make this happen.
We were able to take advantage of API technology to link the three systems together, allowing them to ‘talk to each other’ and avoid having separate systems which can then very easily differ from each other and complicate administration, accounting and day-to-day operation of the business.
We have since also added Paypal integration, so that as well as orders and stock movements being automatically communicated between systems, payments are also now matched and tracked quickly and easily.
This is an excellent example of how building a modern system can bring great benefits to a small business, and is something that is now available to business of all sizes, not just large companies with huge budgets.
This emphasis on working hard in the early stages to set up a robust and efficient system has been extremely beneficial to the company, creating a platform for growth and ensuring Don Veeto provide an excellent experience to their customers.
We provide a range of other services to the company, including bookkeeping, company administration, VAT, annual accounting and tax compliance.
We regularly review orders coming through from the website, and make sure the stock and accounting systems have all updated correctly. We also work closely with the company to adjust for any returns or other adjustments that may be needed.
This ensures that the company is able to see up to date results at any time, and can closely monitor margins and other specific performance indicators, as well as overall performance of the business.
What our client says
Edoardo is extremely happy with the service and support we have given him, saying in his Google review that Approved Accounting are:
Extremely professional, efficient and hard working… they do a really good job while not being overpriced!
How our work for Don Veeto can translate to your small business
Our work for Don Veeto is an example of how we support startup businesses from day one. We are able to provide a range of accounting services to help a new venture get established with the right structure, systems and plans to give the best chances of success.
Not only that, but we understand that ‘taking the plunge’ with a new company can be daunting, and we therefore make sure we are always on hand to help when needed, or just to offer a second opinion on new ideas.
We always take the view that a new business should be the start of a long term relationship between us and our client, so the more we can do to ensure it thrives, the better the everyone!