Time Consuming Bookkeeping
Real Estate Investment
The Situation
- Owner doing bookkeeping work for real estate investment firm
- Required 6-8 hours of owner time each week
- Significant delays in preparing tax returns and sharing financial reports with investors
The Solution
- Client outsourced entire accounting department to Lucrum Consulting
- Standardized chart of accounts across all companies simplifies coding of expenses.
- Client has specific, strategic involvement only to provide complete control and financial security yet require minimal time
The Results
- Owner has additional half day of productivity each week
- Greater efficiencies reduced cost to client by 31.5% within 90 days
- Accounting function now requires less than 4 hrs week
Recent Articles
Is Providing A Company Car A Good Idea? Comparing Company Owned Vehicles vs. Mileage Reimbursements (Plus 2 Real Company Fleet Models That Worked)
Photo above: RAM Pavement, a Charlotte-based paving company renews at least one truck in its fleet with a brand-new vehicle approximately every …
Expenses That Can Be Included In COGS (That Might Surprise You)
Some Cost of Goods Sold (“COGS”) expenditures are obvious (eg. raw materials or subcontractors working on a customer’s job), while others that …
How To Be Prepared For A Business Personal Property Tax Audit: Tips From Bookkeepers & CFOs
By: Jeff Heybruck As a fractional CFO and bookkeeping firm, we’ve gone through our fair share of business personal property audits with …