Time Consuming Bookkeeping
Real Estate Investment
The Situation
- Owner doing bookkeeping work for real estate investment firm
- Required 6-8 hours of owner time each week
- Significant delays in preparing tax returns and sharing financial reports with investors
The Solution
- Client outsourced entire accounting department to Lucrum Consulting
- Standardized chart of accounts across all companies simplifies coding of expenses.
- Client has specific, strategic involvement only to provide complete control and financial security yet require minimal time
The Results
- Owner has additional half day of productivity each week
- Greater efficiencies reduced cost to client by 31.5% within 90 days
- Accounting function now requires less than 4 hrs week
Recent Articles
How Liquid is the Business?
Liquidity in business has nothing to do with water. It describes how quickly you can sell an asset and convert it into …
Mobile Accounting? It’s Here, Now
This month we’re taking a break from all the PPP and COVID-19 conversations out there. Now that it’s mid-2020, it may be …
Two Things You Must Do Now Relating to COVID-19 & PPP
There has been a lot of confusion regarding the Paycheck Protection Plan (PPP) loans program. It was rushed into law and there …