Case Studies

1. Property Management

Sector: Property Management Company

Region: Boston, MA

Accounting System: Yardi Voyager

Solution: Implemented a standardized procedure for delivering monthly financial reports and preparing monthly financial statements.

Scope: A Property Management Company's senior leadership engaged our services to facilitate monthly financial reporting and standardize the monthly financial report delivery process.

Approach:

1. Conducted a walkthrough of the current reporting process, reviewed system access rights, and examined existing work papers.

2. Engaged in discussions with current accountants to set reporting deadlines by entity and outline reporting requirements by owners.

3. Created a comprehensive checklist outlining tasks to be performed by each entity and established checkpoints to ensure report accuracy.

4. Conducted an in-depth analysis of recurring transactions, identified accounting errors, and devised corrective processes.

Delivery:

1. Established a standardized methodology for month-end and year-end reporting, including the associated work papers.

2. Ensured timely delivery of month-end financial reports well ahead of review deadlines.

3. Enhanced work papers to improve user-friendliness and eliminate errors.

Value Addition:

1. Clients experience time savings through the implementation of a standardized approach across all entities.

2. Proactive planning of dependencies for reporting and accounting requirements, eliminating the need for last-minute rushes to finalize financials.

3. Improved training for new accountants utilizing comprehensive checklists and checkpoints.