Fabulash with Tact
In this post we highlight our client Fabulash! Located on the beautiful island of Barbados, Fabulash offers its clientele quality aesthetician services including eyelash extensions, sofTap permanent makeup and brow waxes…just to name a few. As the owner of Fabulash, Claire Dottin sets a high standard of customer service. Her desire is for clients to leave each appointment looking and feeling fabulous!
Technology Stack
Since January 2022 Tact has been supporting Fabulash with its accounting and advisory needs. As with every client engagement, we set out to understand the accounting needs of Fabulash. The business already had an online booking system where clients could schedule appointments. Additionally Fabulash makes use of international banking solutions to facilitate payments to its international vendors for supplies.
With the above and other requirements in mind we began setting up Fabulash’s accounting system. The final setup ensures that online bank payments to Fabulash’s vendors are automatically sent to its accounting system daily. Additionally, Fabulash can easily digitise and submit its expense receipts for processing to the accounting system. This setup saves Claire time with administrative work and allows her to spend more time promoting her business!
Accounting & Advice
We don’t only maintain Fabulah’s accounting system! We also provide the business with a full range of services including accounting, tax filing and advisory. Every month we complete bookkeeping and provide Fabulash with an income statement and balance sheet report. We prepare the annual statements and handle all tax filings to the Barbados Revenue Authority. This includes the corporate income tax return.
We also provide advice to Fabulash on an ongoing and project basis. For example, in 2023 we supported Fabulash in increasing the prices of its services in-order to maintain the financial health of the business. This took into consideration the increase in prices by Fabulash suppliers, the prices of Fabulash competitors and the price sensitivity of Fabulash’s own clients. On an ongoing basis we also have periodic update calls with Claire to discuss any business, tax or administrative topics.
Looking Forward
At the start of 2024 Fabulash moved its studio to a new location. We believe that this will open up many possibitlities for Fabulash to grow and thrive. In the short term there will be the need to navigate the increasing costs of doing business with higher product and supplies costs. We look forward to continuing supporting Fabulash on its journey ahead.
