Elliott Davis was asked: “We are closing a branch office that includes our accounting and finance staff. Can you provide accounting and finance support to our 11 companies/locations?”
Context
- A vertically integrated holistic land investment management firm recently closed an operations office, losing accounting and finance staff
- Initially needed system and accounting consulting services for one entity, but realized all subsidiaries needed guidance and assistance
- Additionally, not all entities were working on the same accounting software, conversion to one system was needed
Our Approach
- Delivered assessment of current state and outlined detail of systems required
- Completed initial system set-up of cohesive accounting and finance software, as well as assistance in system training for users
- Providing weekly, monthly and quarterly accounting advisory services, including:
- Invoice generation in General Ledger system
- Bank and credit card sync to record deposits and credit card receipts
- Maintain schedule of depreciable assets
- Record management approved cash disbursements and payroll journal entry
- Reconcile balance sheet accounts and prepare journal entries as needed
- Complete general ledger (GL) variance analysis
- Meet with management to discuss recommendations for efficiency improvement in processes
- Streamlined customer invoice processing with Smartsheet creation for request workflow
Customer Impact
- Received assistance in completing all accounting transactions, including balance sheet reconciliation, GL analysis, schedules for accounts receivable, fixed assets, debt, expenses, and invoicing
- Advanced the entire invoice process – time and accuracy
- Identified areas of improvement across processes
- Increased confidence of users and management in all aspects of accounting
We Can Help
For more information on how Elliott Davis can assist you and your business, contact a member of our team.
The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change.
