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Bookkeeping for IT Industry Client
About the Client: Our client is an India-based corporation that has been providing software-related services in the US since 2015.
Challenges Faced: The client encountered several challenges in managing their financial records:
Maintaining Records/Reports: As a sole owner, the client struggled to maintain records of service invoices, payments, payroll reports, and other financial documents, requiring both accounting and software expertise.
Monthly Reconciliations: Ensuring the accuracy of monthly financials was challenging, making it difficult to gain a clear picture of expenses and revenue without consistent accounting practices.
Client:
India-based corporation that has been providing software-related services in US
How Our Team Provided Solutions:
Our team stepped in to alleviate these challenges by offering comprehensive bookkeeping services, including:
- Clean-up of books for 2021-22.
- Matching books with audited financials.
- Monthly reviewing and reconciliations of revenue and expenses.
- Yearly financials for easy and better analysis of business financial conditions.
- Extra Initiatives Taken by BSA Tax: In addition to bookkeeping services, we provided tax advisory services and tax strategy planning. We maintained regular communication with the client via email, providing weekly updates on the status of bookkeeping.
marketing analysis
business innovation
finance strategy
corporate management
Results
he results of our partnership were significant:
- With the burden of bookkeeping lifted, the client could focus more on expansion plans.
- Despite reducing the workload, we implemented efficiencies that allowed us to charge less than expected.
- We ceased fixing database errors, further reducing fees for the client.
- The client now enjoys renewed energy and passion for their business, freed from the tasks they once dreaded.
