{"id":350,"date":"2020-11-23T11:13:05","date_gmt":"2020-11-23T11:13:05","guid":{"rendered":"http:\/\/velaninfo.com\/resources\/?post_type=casestudies&p=350"},"modified":"2020-12-19T13:35:58","modified_gmt":"2020-12-19T13:35:58","slug":"outsourced-accounting-services-for-property-management","status":"publish","type":"casestudies","link":"https:\/\/www.velaninfo.com\/rs\/casestudies\/outsourced-accounting-services-for-property-management\/","title":{"rendered":"Hired By A Michigan Based Property Management Company To Clean Up Their 2019 Books Of Accounts Velan Accountants Ended Up As A Retainer To Keep Their Ongoing Books"},"content":{"rendered":"

Process:<\/strong><\/h3>\n

Michigan based 25-year-old Property Management Company had their Accounting books messed up with incorrect and incomplete books which needed to be unreconciled and re-reconciled correctly for the year 2019. Their Accounting books had several missing and duplicate entries that are required to correct for their financials and Balance sheet reflect accurate figures and they could submit to them to their CPA and the Board.<\/p>\n

Challenges:<\/strong><\/h3>\n
    \n
  • Reconcile and file taxes for the year 2019 in a short period of time.<\/li>\n
  • Unable to find an accounting firm that can quickly adapt to TOPS, Property Management based Accounting Software<\/li>\n
  • Client is unable to find the right outsourcing partner which has certified data security processes.<\/li>\n<\/ul>\n

    Solutions:<\/strong><\/h3>\n
      \n
    • Velan has over a decade of experience in delivering accounting services to clients in the US. Velan deployed an experienced accountant to complete the year 2019 in a short period of time.<\/li>\n
    • Velan accountant has worked on a wide range of accounting software platforms and was able to adapt and work on the TOPS efficiently<\/li>\n
    • Velan practices ISO 27001 Information security procedures to take care of Data Security and maintain confidentiality.<\/li>\n<\/ul>\n

      Outcome:<\/strong><\/h3>\n

      Velan completed the books of accounts for the year 2019 and cleaned up within the agreed timeframe. With a highly satisfying outcome, the client decided to hire Velan accountants to maintain their books of accounts on an ongoing basis.<\/p>\n","protected":false},"excerpt":{"rendered":"

      Velan accountants received all bank statements and access to their Accounting books and did a thorough study of 2019 transactions by comparing Bank feeds, bank statements with the books and identified the missing entries and duplicate entries which needed to be rectified. Rectifications and reconciliations of the books were done month on month for the entire year 2019 and financials for the year 2019 including the trial balance, P&L and balance sheet were prepared.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-350","casestudies","type-casestudies","status-publish","hentry","Categories-accounting-services"],"yoast_head":"\nUS Property Management Accounting Expert<\/title>\n<meta name=\"description\" content=\"Velan's based on Property Management US Accounting services and vitrual Bookkeeping Expert.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.velaninfo.com\/rs\/casestudies\/outsourced-accounting-services-for-property-management\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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