Bookkeeping Management Administration reviewed and restructured the firm's bookkeeping and accounts, set up a time tracking system to properly record time spent on each client by each architect, and set up a proper billing system and procedure.

Bookkeeping Management Administration receives all the firm's bills on a daily basis, accurately posts all bills to accounts payable, schedules all bills for payment, prepares and mails invoices to clients on a timely basis, prepares monthly statements for all open accounts on a timely basis, and receives, posts, and deposits funds received by the firm's clients.

Since the bookkeeping was done as an "afterthought," there were substantial accounting bookkeeping data entry errors and payroll was not being properly posted to the proper projects.  As a result, the firm suffered from numerous inaccuracies in its accounting, including profit and loss statements and balance sheets.

Payroll Service Management was implemented, including a time tracking system, and it properly allocated direct labor costs to each contract, eliminating the need for the basic bookkeeping. 

Since Bookkeeping Management Administration was able to provide all the bookkeeping service required by the firm and enable them to increase overall productivity, the firm's expenses were reduced resulting in increased profits.

A review of the firm's QuickBooks indicated that the company did not provide any accurate data. The internal accounting, bookkeeping, accounts payable, and accounts receivable were not properly set up resulting in inaccurate information for the principal.

The firm did not have a proper system to track the time spent on client contracts and did not prepare nor process client invoices on a timely basis.

Outside of the significant savings provided by BMA Small Business Payroll Processing, A new client, a medical practice, who switched from PAYCHEX to BMA payroll recently faced a temporary cash shortage. As a result, the Principles were going to delay/forego their paychecks. .

Since BMA does not impound tax funds, the owners were advised that, since the taxes did not have to be paid for five more days, BMA could process their checks on time.  The firm would have the funds available in five days to pay the required taxes.  This could not be done with Paychex

FRAUD PROTECTION

Since BMA does not tax impound and all funds remain in the clients account and under the client's control, such tax fraud cannot occur. Furthermore, all disbursements from the company bank account, are clearly marked on the bank statement.  All funds can be reconciled and every penny accounted for.

A subsidiary of a larger company under it's own EIN number was concerned with the large per payroll cost for payroll processing for a one person payroll.