Supporting a startup real estate developer with scalable services

Management asked Elliott Davis: “We want to focus on developing new properties and creating maximum value. Can you help provide a full suite of accounting services, allowing us to focus on our objectives?”

Context

• A startup, privately owned real estate development company
• Dedicated to developing new properties in addition to acquiring and creating maximum value of existing properties
• Initially engaged Elliott Davis to provide general accounting services while maintaining transaction recording in-house
• After one-month, realized value and moved all accounting processes to Elliott Davis
• Wanted to focus on building business, vs. maintaining internal operational efficiencies

Our Approach

• Initially engaged Elliott Davis for monthly accounting and annual tax services, including:
  • Maintenance of asset schedules and schedules for expenses
  • Analysis for general ledger accounts, including reconciliation of cash and receivables,
  • Tax planning and compliance
  • Analysis of financial statements
  • System implementations, including integration with card feeds and payroll
• Realized value of Elliott Davis team and added the following value-added services:
  • Creation of dashboard for company-specific key performance indicators (KPIs)
  • Development of financial reporting, including budget to actual comparison
  • Sync of bank and credit card providers to record deposits and credits
  • Record payroll journal entry and allocate costs, if applicable
  • Enter bills and submit payment for management approval

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Customer Impact

• Immediate realization of value of services – ability to focus on key growth objectives for business
• Full suite of services by team provides overall improvement of processes and efficiencies
• Additional insight into performance through KPIs and scheduled cadence of management meetings to review financials

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.