Leichhardt Bowling & Recreational Club is a lawn bowls club that offers a bar and bistro to Sydney’s inner west community. The venue offers live music, functions, events, and a children’s playground alongside its’ bowling greens. Recently, the club has promoted a variety of regular trivia nights and has transformed a bowling green into a relaxing alfresco space for their patrons to enjoy [a cold beverage].
Situation
In 2018, the Leichhardt Bowling & Recreational Club was a modest business with a dwindling membership base. Despite the threat of a business sale and closure looming, the Club pursued its’ big dream of re-establishing itself as a key hospitality and entertainment venue in Sydney’s inner west. They wanted to reinvigorate ‘the Bowlo’ to reconnect it to the local community. But they knew big things needed to change within the business to make that happen.
Charged with a strategic focus to modernise the club and a need to grow its revenue, LBC simply didn’t have the internal team to get the job done. As such, in 2019 General Manager Sebastian Compton approached Dexterous Group for financial guidance and support to help run LBC. As the General Manager focused on developing and implementing new business initiatives to revolutionise the Club, Dexterous Group was entrusted with improving and managing LBC’s daily finance function.
Solution
Firstly, Dexterous lead LBC’s digital transition from an antiquated financial software to the cloud-based, and up-to-date Xero suite. Xero offers banking integrations, seamless payroll, and Accounts Payable and Accounts Receivable functionality that advance LBC’s capability to run efficiently and effectively.
Armed with modern accounting software, LBC can now understand and analyse their financial health position immediately. With their business data always up-to-date, Management is in prime position to report accurate insights to the Board to empower smart and informed business decisions.
Further, Dexterous is responsible for managing LBC’s finance function by taking care of:
- Monthly accounts payable, accounts receivable, and general bookkeeping.
- Management reporting, cash flow forecasting and management.
- Lodging the business’ tax requirements such as Monthly Instalment Activity Statements (IAS), Quarterly Business Activity Statements (BAS), and annual audits.
Ongoing Outcome
Today, Dexterous Group continues to oversee and run the everyday finance function of the LBC.
As of mid 2021, the Club is once again a profitable business that continues to grow its foothold in the local scene.
“Engaging Dexterous Group to take charge of our accounts whilst I focused on developing and expanding the business has been integral to our turnaround performance. Our accounts are solid, and we are hitting our business goals already – the future is bright for ‘the Bowlo’!”
– Sebastian Compton, General Manager, Leichhardt Bowls Club
About Dexterous Group’s finance function management
Consider Dexterous an extension of your team. We are a progressive financial accounting and bookkeeping provider geared to help you run an efficient and effective finance function. With a series of fixed-price packages on offer, you can scale up your support as you need. Talk to us today about your business on 1300 996 928 or hello@dexterousgroup.com.au.
