- Client
- Growing U.S. CPA Firm
A firm serving small businesses with monthly bookkeeping and annual tax returns.
- Service
- Outsourced Bookkeeping
Catch-up bookkeeping, bank and card reconciliations, and month-end close support.
- Project Goal
- Tax-Ready Client Books
Bring every client's books up to date before the tax season deadline.
Client Overview
A growing U.S. CPA firm provided monthly bookkeeping and tax preparation for small business clients. As the client base grew, several clients' books fell months behind, and the firm's accountants were spending tax season catching up instead of preparing returns.
The Challenge
The firm needed the backlog cleared quickly, without pulling senior staff off advisory and tax work.
- Months of Unreconciled Accounts: Bank and credit card accounts for several clients had not been reconciled.
- Inconsistent Client Records: Each client used a different chart of accounts and document process.
- Approaching Deadlines: Books had to be closed before returns could be prepared.
- Stretched Senior Staff: Experienced accountants were doing data entry instead of reviews.
The Solution
Xconcile set up a dedicated outsourced bookkeeping team that worked in the firm's own accounting software, followed its checklists, and reported progress every week.
- Catch-Up Bookkeeping: Recording missing transactions and clearing uncategorized items, client by client.
- Reconciliations: Reconciling bank, credit card, and loan accounts to statements.
- Standard Close Checklist: One month-end checklist applied across every client file.
- Review-Ready Files: Open questions listed for the firm's reviewers instead of left in the books.
Results and Business Impact
The backlog was cleared before tax season, and the same team now handles the firm's monthly bookkeeping, so its accountants can focus on returns, reviews, and client advice.
- Client Files Brought Up to Date
- 35+
- Backlog Cleared Before Tax Season
- 6 wks
- Less Partner Time on Bookkeeping
- 50%
