"Although our previous accountant was preparing our books and GST returns and sent us bi-monthly reports and graphs showing our cash flow, we were in a financial mess.
We never knew what we owed our suppliers or more importantly what we were owed by our customers. Producing a statement for a customer to show how much they owed us was a real hassle and some took ages to pay us (many months or even a year overdue). We never seemed to have any cash, we didn't know what inventory we held and often promised to sell the same inventory to different customers, much to our subsequent embarrassment. We were never in a position to re-order stock in time and we were at our wit's end. Our accountant never came to see us and we couldn't pay his huge bills anyway.