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Bookkeeping for Software Services client
ABOUT CLIENT
A US based corporation that has been providing Software related services in US since 2013.
CHALLENGES/ISSUES FACED
Maintaining records/reports: The client has to maintain records of his services invoices, payments, payroll report, and other financial reports, which required accounting and software expertise as well. Since the client is a single owner of his business, he cannot manage all these things independently.
Maintaining Monthly reconciliations: Client need to make sure monthly accuracy of financials, therefore they are not able to check the accurate picture of expenses and revenue without following regular accounting.
Client:
A US based corporation that has been providing Software related
How Our Team Provided Solutions:
The client handed over to us the bookkeeping process of his business. We provide him with:
- Categorization of transactions in accrual heads of account
- Preparation of yearly balance sheet and Profit/loss statement
- Monthly reviewing and reconciliations of revenue and expenses
- Yearly financials for easy and better analysis of business financial conditions.
EXTRA INITIATIVES TAKEN BY BSABOOKKEEPER
Client was following old approach of accounting and our expert team helped them to clearly follow best accounting practices and manage their books more efficiently. Also, we maintain regular communication with the client over emails. We update the status of bookkeeping weekly to our client over the emails.
marketing analysis
business innovation
finance strategy
corporate management
Results
Because he no longer had to keep records for his business, he was able to devote more time to his expansion plans. Despite removing a tremendous amount of the work from his shoulders, we were able to implement efficiencies that allowed us to charge significantly less than he expected. We also stopped fixing database errors, which also lowered his fees. The client now is focusing only on what he loves to do in his business, and not the bookkeeping, which he hated, he has more energy and passion than ever before.
