Recently, we were inspired by Simon Sinek, author of “Start with Why: How Great Leaders Inspire Everyone to Take Action,” to define the “why” behind our role as a CPA firm:

“We’re here because business owners and governments need solutions to their challenges — not a commodity product. Through our dedication to teamwork, development and relationships, we will help our clients thrive.”

The following is part of a series illustrating our “why.”

Our client, a virtual contracting company, was using three different accounting systems to track its high-volume (we’re talking 600-700 transactions per month!) business. This “combo” solution got the job done, but it was cumbersome. It was also expensive. One of the systems was administered by a third party and incurred per-transaction fees that totaled between $5,000 and $10,000 each month. The company was ready to eliminate this cost and consolidate its accounting systems. The management team asked if we could help.

Part of the challenge our client faced in the current accounting system setup was the virtual nature of its business. The company’s accounting software resided on a computer at an office in the Twin Cities, but its employees were scattered across the country. To update the two systems not administered by a third party, an employee had to make a special visit to the office. We knew we could provide a more efficient, less costly solution. To begin, we met with our client’s financial team and assessed each system. We determined QuickBooks Online — a cloud-based system — paired with conversion software to transfer the existing third-party data would be an ideal fit. To help the company’s CEO fully understand the timing, training and budget required for the switch, we put together a detailed matrix that included our recommendations.

After we received the go ahead from the CEO, we got to work scheduling the data transfer and converting it to QuickBooks Online. This took a week and a half to complete. One month later, after we were certain everything was running smoothly, they were able to let the third-party vendor (and related expense) go. The results: our client is now saving anywhere from $5,000 to $10,000 per month in service fees, and their accounting system is now much more accessible and secure.

We know much of the work we do makes life easier for our clients, but when we’re able to make upwards of an $80,000-a-year difference for a mid-sized business it feels especially good.

It’s why we do what we do.

Until next time,