Firestopping contractor: 9 months behind, caught up in 3 weeks
Client: Firestopping Contractor
A busy $2M firestopping contractor whose books had fallen 9 months behind.
- 9 months
- behind when we started
- 3 weeks
- to clean up and catch up
- the 10th
- the books close by, every month
01
Where it started
The jobs were getting done. The books were not.
When this $2M firestopping contractor came to us, their books were 9 months behind. One of the company's business bank accounts was missing from the books entirely, and much of what had been recorded was booked to the wrong place. Nine months of payments, bills and deposits sat outside the numbers.
02
What we did
We brought the missing bank account into the books and corrected the transactions that had been booked wrong. Then we worked forward through every month that was behind, reconciling each account against the actual bank statements until the books and the bank agreed.
From the first statement to the last, the clean-up took 3 weeks.
03
Where it stands now
The books now close by the 10th of every month, and the owners get fresh financials each month.
Last month's numbers arrive while they still matter.
Related: bookkeeping clean-up and monthly bookkeeping.