$4M Local Professional Services Firm
Streamline bookkeeping and payroll, create visibility with financial reports and automate manual tasks.
Pain Points:
The company had been using an offsite, hourly-rate bookkeeper for 20 years. She was not a trained accountant or tech savvy, resulting in multiple issues:
- Costly, time-consuming bill-pay process involved FedEx’ing invoices and checks between the company’s office and the bookkeeper’s home, resulting in unnecessary shipping costs and late fees
- Duplicative, manual payroll process required supervisors to enter timesheets into an Excel spreadsheet, which the bookkeeper then rekeyed into the payroll system
- On-premise Quickbooks accounting system was not set up correctly, resulting in countless hours of unnecessary, redundant entries
- Nobody at the company had access to the accounting or payroll systems and the bookkeeper did not provide useful reporting
ALC’s Solutions:
A partner at an accounting firm referred the business owner to ALC. Our team quickly:
- Eliminated paper and improved bookkeeping, payroll and communications processes by automating bill-pay and transitioning to paperless payroll
- Cleaned up disorganized Quickbooks accounting ledgers and transitioned to Cloud-based version for improved visibility and 24/7 access
- Replaced static financials with dynamic reports incorporating trendlines and analyses, enabling management to understand the story behind the numbers, identify variances and plan with confidence
- Quickly applied for a loan under the SBA’s Payment Protection Program (PPP), which was funded within 30 days, and subsequently applied for PPP loan forgiveness
Client Benefits:
With ALC serving as the company’s accounting office, our client has:
- Realized $80,000 in annual savings from reductions in payroll, IT and shipping costs
- Used newly-found bandwidth to engage in revenue-generating activities, resulting in 3% revenue growth