Time Consuming Bookkeeping

Real Estate Investment

Time Consuming Bookkeeping

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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