Benefits of working with us to a aerospace tools dealer
Client
- An aerospace tools dealer based in San Diego,California
Overview of client
- The client was struggling to manage AR function of his business which used a complex & tedious POS system. The invoices needed to be customized in the accounting software depending on the customer and their timely processing & mailing was required to ensure the timely payment by the customers. Further, follow up for payments was also a concern as the current system didn’t guarantee timely follow-ups.
Outsource function opted
- Invoicing in QB & mailing the invoices to the customers
- AR management
- Creating books from scratch
Challenges faced
- The invoices had to be customized depending on the customer
- POS which was the data source was complex & needed a compilation of various reports from POS to collect the data required
- There were a lot of incorrect invoices which needed to be matched with the correct orders.
- Collections were not achieved on time as the invoices were not sent to the customers as per the records.
Solution provided
- Established the process for pulling the data from POS.
- The books were set up including COA, bank feeds, & rules.
- The invoices were processed with required customization & consistently with zero error.
- Established the process to match the invoices with orders to eliminate scope for error.
- Timely creation of invoices which ensured timely collection.
- Timely follow up on the unpaid invoices based on a report from QB.
Key success points
- Resulted in a lot of savings in time & cost to the client through our streamlined processes
- Books were completed & made current well within the client’s expected timeline
- All the invoices which were due to be processed were completed on the same day even when the volume was more than average
- The errors in the process were eliminated through standardized process & timely communication
- The client was happy with our consistency & commitment and assigned us the accounting of one more business unit wherein we were asked to perform end-to-end bookkeeping and accounting activities.
