Experience with Small Business Accounting Solutions

searcher profile

April 26, 2021

by a searcher from The University of Arizona - Eller College of Management in Denver, CO, USA

Hey all,

Long time observer, first time poster.

We recently closed on an investment into a business which does not have an accountant on-staff. Their accounting policies would be described as 'whatever we decided that week' style. Our diligence generally was reconciling the bank accounts and deciding it was close enough.

We are now in dire need of a clean up of the chart of accounts, some level of historical clean up and then a review of processes for improvement going forward as well as monthly services to close the books.

Does anyone have a sense for the right level of help to get and the typical cost?

We're evaluating anything from hiring a full time resource, to hiring low level bookkeepers and everything in between.

Thanks!

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commentor profile
Reply by a searcher
in Austin, TX, USA
I went through this exact problem with one of my former businesses and a lot is going to depend on your company's resources, it's managerial bandwidth and how mission critical the accounting really is to it's performance. If you'd like to share more of the details you can email me at redacted and I'd be happy to tell you more about my experience.
commentor profile
Reply by a searcher
from University of Southern California in St. Louis, MO, USA
I'm happy to chat about this. Shoot me an email: redacted
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