Real Estate Success Story

Client Background

Our client, a real estate entity based in the US, was facing significant financial challenges. They had multiple subsidiaries and were struggling with managing their books of accounts. The situation got worse with the accidental deletion of several QuickBooks Desktop files, making it crucial to reconstruct the financial records accurately.

Challenges

• Multiple Subsidiaries: The client had several subsidiaries, each with unique financial data and requirements.
• Data Loss: The accidental deletion of QuickBooks Desktop files resulted in the loss of essential financial records.
• Data Inaccuracies: The available data was incomplete and had various inaccuracies.
• Software Migration: The client needed to migrate some subsidiaries to AppFolio and others to QuickBooks Online.
• Cash Crunch: At the same time, the client was experiencing a monthly cash crunch.

Solution & Results

• Data Reconstruction: We reconstructed the books of the deleted entities, ensuring accuracy as a result of which, client regained control of their financial records.
• Data Cleanup: For the remaining subsidiaries, we conducted thorough data clean-up, rectifying errors, and ensuring data integrity.
• Smooth Software Transition: We managed the migration of subsidiaries to AppFolio and QuickBooks Online, ensuring a seamless transition.
• Virtual CFO Services: Recognizing the client's cash flow issues, setting up automated cash tracking sheets, and providing real-time insights into the client's cash situation due to which the client overcame cash crunches.