🔍 Bookkeeping Nightmare Case Study: How We Turned Chaos into Clarity 🔍

At Denali Bookkeeping, we’re no strangers to tackling complex bookkeeping challenges. Here’s a story about one of the toughest cases we’ve faced—and how we turned it around.

The Challenge:

A small business owner came to us with a bookkeeping nightmare: 6 years of unrecorded transactions, misplaced receipts, and inconsistent financial records, tax returns in banker boxes and now they were being audited. They had no idea where their business was. It was so disorganized that they couldn’t tell if they were headed toward financial trouble and should just shut down. It was a mess, to say the least!

Our Solution:

Assessment & Cleanup: We started by addressing if they had a business bank account and credit cards, point of sale system or manual receipts, and exporting as much data as we can from the bank, bank statements, and 3rd party systems. Carefully reviewing every transaction, posting bank activity, and organizing receipts that were paid with other methods like cash or personal funds to ensure nothing was missed.

Reconciliation: Once the bank data was reconciled, we posted the business expenses with personal funds, identifying missing information like loans, line of credit, and assets that were not reported, and tied out the revenues from the point of sale or customer invoices.

Rebuild & Educate: After getting their books back on track, the client was profitable. We set up a streamlined bookkeeping system tailored to their needs and ask if they wanted to be hands on or hands off. On this one, we trained the owner on how to maintain it going forward.

The Result:
Within just a few weeks, the business owner had a clear picture of their finances, we were able to assist the CPA with the audit documents, and restore the confidence to manage their books moving forward. Since the documents were assembled and consistent in the QBO, the auditor was pleased and we were able to produce the backup documentation as requested. What was once a nightmare became a well-organized financial system that supported their business growth moving forward.

No bookkeeping challenge is too big for us to handle! If your books are in disarray, we’re here to help.

📞 Call us at 907-222-4613
📧 Email us at [email protected]

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