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
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.
