challenge
Five brands, one month-end, all by hand.
Nitu Group grew from a single Subway store into a franchisee of Church's Texas Chicken, Shipley Do-Nuts, Nothing Bundt Cakes, Supercuts and Cost Cutters. Each brand brings its own POS, franchisor reporting and royalty calendar. Sales, deposits and bills were keyed and reconciled location by location, so the close was slow, labor-intensive and prone to errors that only surfaced at month-end.
“Spacetil moved us from a labor-intensive and error-prone month close process to a predictable 5-day close, using AI agents and process automation.”
approach
Books kept every day, reviewed by people.
In 2024 Nitu Group moved its accounting to Spacetil. The platform pulls every location's POS and bank activity each day and codes, matches and reconciles it. Nitu Group's Spacetil accounting team reviews the work as it lands, and a Financial Controller does the final review of the books before each close.
results
A close the partners can plan around.
Month-end is now a review of work already done, and the books for 96 locations close in five days. The same setup takes on each new store as Nitu Group grows.
What Spacetil runs for Nitu Group
- Daily reconciliation
- POS sales and bank deposits matched for every location, every day.
- Accounts payable
- Invoices coded to the right store and paid on approval.
- Credit card reconciliation
- Transactions managed and 40+ credit cards reconciled across 10 EINs.
- Five-day close
- Books closed in five days after the Financial Controller's final review.
- Sales tax filing
- Filed for every location and jurisdiction.
- Delivery chargebacks
- Third-party delivery payouts matched and chargebacks disputed.
- Fixed asset register
- Every asset by location, depreciated each close.
- New store setup
- Each new location set up in the books before it opens.