The Situation:

The client was dissatisfied with the bookkeeping and accounting services company. Phone calls weren’t returned for weeks if at all. Federal and state filings were being submitted late. Basic questions weren’t being answered and recommendations about the best course of action weren’t clear or well explained. Though they weren’t paying much for their service, they didn’t feel like they were getting the value for what they were paying or the attention they needed even though their business was steadily growing. A change was needed.

The Need:

The client needed an accounting partner that would respond in a timely manner and act in the best interest of the company. The owners also needed reliable information in order to make investment and tax planning decisions. Managers also needed to get their time back - instead of researching things themselves while waiting for answers, they needed someone who could answer questions quickly and accurately so decisions could be made before opportunities passed them by or before deadlines were missed. Additional filings with the state and the franchise also needed to be made in a timely manner.

The Solution:

After winning a competitive bid with other service companies, Brightleaf worked with the prior agency to take over the accounting and bookkeeping. Brightleaf determined that a new software platform was warranted to give the client better visibility into their records and to take advantage of some automation and additional features that would decrease costs while improving functions. Potential risks with some contractors were identified which prompted conversion from 1099 to W-2 employees. Expenses were reviewed and the client was informed about limitations for certain types of expenses that would affect how much could be deducted for tax purposes. Suspicious charges were noticed and determined to be fraud, so Brightleaf worked with the banks to recover the funds and put controls in place to prevent future incidents.

The Outcome:

Though bookkeeping and accounting services started immediately and initial setup was finished within weeks, the full transition from the prior company took several months to complete. Many actions were done automatically by Brightleaf and management overhead decreased by several hours per week. Questions about charges received from vendors or government agencies were answered within hours so managers could make decisions and respond much faster than before. Managers were able to reclaim their time to focus their energy and efforts on the core of their business, growing the business faster while worrying less about the books getting done.