A US-based client provided bookkeeping services to local businesses and small shops growing rapidly. With a team of a few accountants, they could cater to the demand of local businesses. When they decided to expand their service area, they faced the challenges of finding a skilled workforce and team retention and needed a service provider they could trust in their expansion drive.
FBSPL, with its long experience in the IT-enabled service industry, robust infrastructure, award-winning service standards, and a highly experienced team of professionals, looked like a perfect service provider for them. They partnered with FBSPL to assist their in-house staff in managing the multiple client accounts they had with the bookkeeping activities.
US-based client provided bookkeeping services to local businesses and small shops growing rapidly.
They had a backlog of multiple client accounts where the QuickBooks invoices were not updated.
A couple of their in-house staff left the company, and they could not hire replacements.
The business was growing and gained multiple clients quickly, but their team could not clear the backlog of existing clients.
Finding a balance between business development and internal team management and what to focus on was becoming a challenge.
We discussed with their management team and their in-house staff and figured out that they would need multiple resources to cover the backlog and look at the increasing amount of work they have.
After discussion, we identified tasks our virtual consultants could start working on and what we could add later.
We started with 2-3 activities, and within a short period, we could handle almost all the activities their in-house staff used to do before us.
Below is a list of activities that we are performing for them:
Checking the accounting email account for their client messages/updates.
Adding/updating invoices received from the client to QuickBooks.
Compiling daily sales records for each of their clients.
Generating unpaid bills reports.
Detailing credit card charges and reconciling credit card statement.
Tracking loan activity.
Bank Reconciliations.
Creating a monthly inventory report.
Searching old invoices that need to be addressed and updating them.
Preparing purchase reports.
Books balanced and quarterly reconciliation.
Working on ad-hoc requests by the clients.
Within a short period, we could increase the team size to 4 staff working for them.
After we started working for them, one other in-house left their firm but still, they were able to manage the existing clients and new clients as well.
They realized over time that with FBSPL, they only need a project manager from their side who could be the point of contact, and their in-house staff can focus on other activities.
