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
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