“Hello Profits, Goodbye IRS” – A Professional Service Firm’s Daily Dose Of Bookkeeping Entries

Our challenge:

Find the glitch in the system. Due to fast growth, a successful Greenwich software developer fell more than a year behind in day to day accounting. This caused late tax filings and potentially steep penalties.

Our Mission:
Straighten out the accounting mess and put this company back on profitable ground.

The solution:
We created a day to day accounting procedure. With records now up to date, we reconciled bank statements and updated accounts payable and accounts receivable records. Now, this company could file its tax returns.

The results:
They solved their accounting woes, brought filings up to date and stopped further IRS penalties. We then trained the office manager to enter daily transactions in QuickBooks, thus ending the company’s dependence on outside bookkeepers.