ARK-LLP Accountant and Advisors

BACKGROUND

Introduce your business and what you do there.

I’m the president of Fab Asia International, Inc. We’re based in New York, and we’re in the wholesale apparel business. We work with different wholesalers and importers that carry their own brands, producing for them in South-East Asia and handling shipping.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with ARK-LLP Accountant and Advisors?

I grew up in Thailand, and I’ve been in the US since 1998. I’ve recently become a US citizen, about two and a half to three years ago. When I got involved with the property real estate business in New York with a friend of mine, ARK-LLP assisted me in doing it the clean and proper way.

SOLUTION

What was the scope of their involvement?

ARK-LLP guided me on creating a separate LLC for the property business, in terms of what documents I’d need to include in my return, like the K-1. When I started to branch out and put other things in my portfolio, ARK-LLP was instrumental in guiding me on how to do it the right way. My apparel company doesn’t have an in-house accountant, so ARK-LLP also does everything for us, including all data entry and QuickBooks management. They’re also my personal accountants.

What is the team composition?

There is a total of four people from ARK-LLP assigned to my company.

How did you come to work with ARK-LLP Accountant and Advisors?

My apparel company was incorporated in July 2006. When I first moved to New York, I was using an accountant in New Jersey, and it was a headache to commute to review numbers. ARK-LLP was based in Manhattan, which was a 10-15-minute walk for me.

I met their owner at an event, and people were talking highly about their company. I was already looking for an accountant.

How much have you invested with them?

The total so far is $40,000–$50,000.

What is the status of this engagement?

I started working with ARK-LLP in March 2011, when I officially started doing business.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

Having them do all my data entry and manage all my books rather than hire an in-house accountant is a huge saving, as well as a huge weight off my back. They handle and streamline everything for me.

How did ARK-LLP Accountant and Advisors perform from a project management standpoint?

I don’t have a lot of projects, so we don’t use project management tools. They’re doing my business and personal accounting—which flow into the same stream because it’s my company—and my property business. We typically communicate over email and meet in person. They notify me by email when taxes are due or when they’re missing something, and they’re always on top of me to ensure that every transaction is properly accounted for.

What did you find most impressive about them?

It’s the importance they give to doing the right thing and guiding me to do it whenever I’m in doubt or have a question. I feel that they’re very honest people and that they provide all the information, giving me the full range of options about what I need to be doing.

They’re also competitively priced. I haven’t actively looked for other accountants, but I’ve talked to people over a drink or dinner, and I’ve heard of some very expensive options. I’ve recommended ARK-LLP to people, and the ones that are working with them are very happy. They don’t overcharge based on market value.

I lost my dad a few years ago, and my mom recently. While I was overseas, ARK-LLP couriered the documents to me to sign them, and I couriered them back. That kind of service distinguishes them. I’m not just a number in their client list. They make an effort to maintain their customer relationships. Their owner takes time to pick up the phone and say thank you to me, which I think is nice. It goes a long way. He’s not egoistic in any way, and he’s always accessible.

Are there any areas they could improve?

Speed of communication could be improved, but this could be related to the pandemic. A lot of their staff may be working remotely.

Do you have any advice for future clients of theirs?

The client needs to consider how much they’d be paying ARK-LLP versus their current accountant, what the nature of the business is, and what they’re going to need from their accountant.

Something to know is that ARK-LLP won’t quote a price from the first meeting. They want to see what the client’s prior accountant has been doing for them and see if there’s a way to streamline the process. Only then will they quote the price of their services.