The year was 2020, and the world, yes, the world, was brought to an abrupt halt that no one saw coming. Most businesses were forced to temporarily close their doors to weather the global pandemic's unknown concerns. After weeks turned into months, many companies didn’t fare well. But with that said, some businesses saw this as an opportunity to focus on skills, services, or products that were extremely helpful during this time. That was not the case for a staffing and recruiting company; let’s call Company A for privacy purposes.
Owned by three equal partners, Company A flourished in sales and customer relations during the pandemic. Many businesses were, again, forced to reevaluate their human resource departments. Unfortunately, accounting and bookkeeping were not skills they were looking to spend time in learning the ins and outs; nonetheless, they were determined to handle payroll independently. They managed to dabble in QuickBooks, but with the day-to-day operations the business needed, it was left unattended for almost two years.
Fortunately for Company A, 2021 and the first half of 2022 was highly successful and profitable. With business booming, they caught the eyes of potential investors. These investors requested financial reports…which the company could not provide. This also happened to be the time when their CPA was preparing for tax returns and asked for financial statements. Company A quickly realized this was bad, and they could soon be in trouble with a lack of documentation and proper reporting.
With these potential investors ready to take their company to the next level and asking for multiple reports within a three-day deadline, they reached out to ShoreSource Business Solutions. We knew we could take their somewhat messy managed books and produce seemingly impossible reports in a short time to help reorganize their books and ultimately give the partners a sense of relief.
The next three days (yes, just three days) were spent pouring over two years of inaccurate reports and transactions. Albeit exhausted, we accomplished reviewing and reclassifying every transaction from 2020 to 2022. Everything was organized, balanced, and reconciled. All financial reports were sent to the investors and their CPAs.
“You saved us” - Company A.
This is our why. This is why we love doing what we do here at ShoreSource Business Solutions. Through all the headaches, blood, sweat, and tears of working nonstop for this client for 72+ hours, we still enjoy taking such intense projects with a purpose and seeing it through to completion. Some may say we are “nerdy,” but we have a sense of accomplishment and drive that can’t be duplicated.
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Are you interested in learning more about ShoreSource Business Solutions, LLC?
Feel free to reach us at 843.729.2961 or info@shoresourcebiz.com.
