LYFE Accounting

BACKGROUND

Please describe your company and your position there.

I am the Senior Real Estate Agent at Horizonz Realty. I assist my broker with training new agents and also help Buyers and Sellers with their transactions.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire LYFE Accounting?

I hired Lyfe to handle our bookkeeping and also tax preparation both professionally and personally.

What were your goals for this engagement?

My goals for this engagement was for it to be done accurately, timely, and efficiently.

SOLUTION

How did you select this vendor?

I met some of the staff while at a networking event at the W Atlanta.

Describe the engagement in detail.

Once we selected Lyfe, we started meeting regularly with Sean and other staff in reference to the complex nature of our real estate brokerage. We currently do property management as well as handle real estate transactions for a number of clients. We serve everyone from Non profits to even city and state governments.

We had some past issues with getting this done in a timely manner, so that was a big concern for us heading into the project. Sean and his staff came to our office and told us that they use a “white glove” approach when it comes to our business. We were reluctant at first, but Sean and his staff fit in with our office culture and soon gained our trust from their extensive knowledge of accounting principles and practices.

Describe their billing or cost structure.

Sean made us certain of Lyfe’s efficiency by demonstrating the care and concern for every line item. They even let us pay after they finished their work, which proved to be more than worth it.

What was the team composition?

We mainly worked with Sean, however there was about 4 people from Lyfe that we communicated with throughout the process.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

We now have systems in places that were recommended by Lyfe, that make our weekly accounting work seamlessly

How effective was the workflow between your team and theirs?

The workflow was very effective, we made Sean and his team aware of our processes and controls which proved to be a very wise thing to do. Sean and his team communicated very with us every step of the way.

What did you find most impressive about this company?

I was most impressed by the way Lyfe made us feel. It was like we were their only client by the way they treated us. They were always available and always in communication.

Are there any areas for improvement?

The only area of improvement would be for Lyfe to stop working after hours. We would get emails at 11pm about the project which is great for us, but I would have liked for them to let us know updates during business hours.

BACKGROUND

Please describe your company and your position there.

Business development manager for local restaurant chain. I help drive more business for catering services.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire LYFE Accounting?

I hired LYFE Accounting for business tax preparation.

What were your goals for this engagement?

To not owe any money on after filing our tax returns and make use of any credits available.

SOLUTION

How did you select this vendor?

We work with their sister company on other projects as well.

Describe the engagement in detail.

The engagement was really straight forward. I do a good job keeping up with all receipts, expenses and sales. I provided them with a spreadsheet of what I had accounted for throughout the year. I did have to provide more information, clarify some things, but overall the process was easy.

Describe their billing or cost structure.

Their cost structure was based on the forms/inputs I believe. We paid a single fee for everything.

What was the team composition?

I worked with one person who is a certified public accountant.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

I wanted to take advantage of as many deductions and credits as possible. I was happy with the outcome mainly the throughly explanations of tax situation. I've already put in place some things to make our next filing better.

How effective was the workflow between your team and theirs?

Workflow was extremely effective. Communication was great. We stuck to our arranged times and deadlines. And again, they did a great job of explaining the numbers.

What did you find most impressive about this company?

It seems to me they know all the deductions and credits that are available for small businesses. I know there are alot, so someone just being able to talk me through exactly what we qualify for was impressive.

Are there any areas for improvement?

The upfront cost is a little higher than what you would pay an individual tax preparer, but we were comfortable with this given the amount of money we were able to save.

BACKGROUND

Please describe your company and your position there.

I am the CEO of WJB Management. We provide full service artist management solutions for a variety of clients nationwide. We utilize the knowledge of some of the most experienced and respected professionals and take pride in implementing innovative business solutions to develop the careers of every client we serve. Our services are comprehensive and tailor to the needs of our clients.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire LYFE Accounting ?

Monthly bookkeeping services and financial reports

What were your goals for this project?

I am a CPA, but I don't have the time to prepare bookkeeping transactions, so I used LYFE Accounting for help.

SOLUTION

How did you select this vendor?

I worked with LYFE Marketing and they told me about LYFE Accounting. I have a great experience with their marketing team, so I also used them for the accounting side. 

Describe the project in detail.

We have them do our monthly bookkeeping within Quickbooks. Everything else is easy to keep track of from the financial reports and payroll. We will occasionally get feedback from their team about what we can do to increase profits. 

What was the team composition?

We work directly with a CPA.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

I appreciate the timely responses and accurate bookkeeping. It helps that they also have CPAs so that I can ensure competency. 

How effective was the workflow between your team and theirs?

It was very effective. No complaints. 

What did you find most impressive about this company?

Their customer service is really good. I usually get an email response the same day or the very next day at the latest which is appreciated in my fast-paced world. 

Are there any areas for improvement?

Maybe the presentation could look better, but overall they are doing a great job. 

BACKGROUND

Please describe your company and your position there.

I am the owner of The Content Company. We offer customized services to out-of-company clients. Create teams and head them for clients who specifically ask for one. Edit and proofread all the content whether it’s written by me or not, to ensure quality.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire LYFE Accounting ?

We work with LYFE Accounting on our bookkeeping and now considering CFO service.

What were your goals for this engagement?

To get an accurate depiction of our company's financials every month.

SOLUTION

How did you select this vendor?

I talked with Krystal and was impressed with what she had to say. She helps prepare the books, so it really gives me peace of mind that what is being done is correct.

Describe the engagement in detail.

I gave them access to our bank account and PayPal. My accountant will routinely call me to ask me to clarify what certain transactions are being used for. They also provide some insight into things we can do to save more money and prepare for taxes.

Describe their billing or cost structure.

I pay a flat rate of $400 per month.

What was the team composition?

I worked directly with Krystal who is my CPA.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

We get an accurate depiction of our company's financials every month.

How effective was the workflow between your team and theirs?

Workflow is easy and customer friendly. I just have to clarify some transactions that they would not know how to classify.

What did you find most impressive about this company?

The service and price are really great. It's clear that they take their practice seriously and I have full trust in their team.

Are there any areas for improvement?

No, we love everything.

BACKGROUND

Introduce your business and what you do there.

I’m the co-director of a nonprofit that helps people of color pursue small business and entrepreneurial initiatives.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with LYFE Accounting?

My company was operating off of a grant from a much larger organization. This was the first time we’d dealt with such a large sum of money, and we needed help managing it. We also needed assistance in hosting a financial literacy training event.

SOLUTION

What was the scope of their involvement?

LYFE Accounting managed our three-year grant and its continuation plan. They created a proper budget for allocation to different programs and projects. LYFE Accounting helped us keep track of our receipts and spending for the monthly reconciliation and audit we had to do for the grant funders, along with the report and taxes we needed to file annually. They also proposed a simple investment plan for the future.

Additionally, LYFE Accounting helped us hold a two-series financial literacy training event. We had one-on-one training for each small business or entrepreneur that attended, and they could then continue working with LYFE Accounting if they needed to. The event also featured brand and professional development.

What is the team composition?

My team worked directly with Krystal (CPA, LYFE Accounting). We told her our company’s story, and she was extremely hands-on with us.

How did you come to work with LYFE Accounting?

We reached out to LYFE Accounting because they specialized in small business accounting. Also, Krystal and I are alums of the same college, and I knew that her business was affiliated with that school.

How much have you invested with them?

We spent less than $5,000. For the two-series program, we paid $225 per hour.

What is the status of this engagement?

Our work together was from May–August 2018.

RESULTS & FEEDBACK

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

We had a very comprehensive affiliation with LYFE Accounting, and they set us up for success. They prepared us to manage our finances on our own, and we can still reach out to them if we don't understand something. They made sure we were able to sustain ourselves.

Whenever we had our monthly grant reviews, the grant organization was very impressed by the way LYFE Accounting handled our budgeting and allocated our funds, along with the documents that they provided to keep track of our receipts and spending. The grant organization began sending out one of LYFE Accounting’s rubrics to other grant holders, and I think that speaks volumes to how credible the content that they gave us was. Also, the literacy training event was very successful.

How did LYFE Accounting perform from a project management standpoint?

Krystal was patient with us and explained everything in layman’s terms so that we could understand something in the moment but then also be able to replicate it. Even after the financial literacy program ended, she gave us content so that we could answer follow-up questions.

Even though she’s a busy accountant, Krystal had no problem meeting with us weekly to go over objectives, especially leading up to the program. We planned everything out, from how many people we would meet with to how long each section of the program would be. Our communication setup was very open; I could text Krystal at any time, and she was extremely responsive.

What did you find most impressive about them?

They were truly focused on finding the solution that would work best for us, even if it meant going with services that they didn’t offer. Krystal was always honest if they couldn’t provide us with a service, and she gave us a list of businesses who could.

LYFE Accounting genuinely wanted to see us succeed. We’d worked with other accountants and money management people in the past who only cared about the money, not what we do as a faith-based nonprofit. Krystal cared about what we were going through and wasn’t just trying to sell us her services. She was personable and easy to work with.

Are there any areas they could improve?

No, I don’t have anything.

Any advice for potential customers?

Be comfortable divulging all of your financial information so that LYFE Accounting can find the best solutions for you. It can be uncomfortable to talk about money, but if you withhold information, you’ll hinder Krystal from doing the best that she can possibly do. My team learned early on that it was best to lay out all of the details regarding how our grant operated and what our requirements were.

BACKGROUND

Please describe your company and your position there.

I work for Thompson Technologies as a receptionist.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire LYFE Accounting?

I had Lyfe accounting file three years of taxes for me.

What were your goals for this engagement?

To have all of my taxes filed quickly & efficiently. Also to get back the largest return possible.

SOLUTION

How did you select this vendor?

I found this vendor on google, after reading positive reviews.

Describe the engagement in detail.

Once I selected Lyfe accounting, I was placed with a CPA (Krystal). Who answered all of my question & corresponded via email quickly. She reassured me that she would come up with the best solution for my situation & she did. My taxes were filed within a few days, and I got a rather large return as well. The best part was, I felt like I was in safe hands immediately, she was knowledgeable & and professional. I definitely plan on using Lyfe accounting for my financial needs going forward.

Describe their billing or cost structure.

The billing was about the same as other accounting companies I’ve used before. H&R Block, etc.

What was the team composition?

The CPA that was selected for me, her name was Krystal. I worked solely with her & I would again!

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

My return was larger than usual & all of my paperwork was filed within a few days of starting the process.

How effective was the workflow between your team and theirs?

It was efficient & effective.

What did you find most impressive about this company?

What impressed me the most was their professionalism and speed in resolving all the issues.

Are there any areas for improvement?

Zero areas of improvement.

BACKGROUND

Please describe your company and your position there.

I am President of CheckMyBookStore. CheckMyBookstore.com is a website that allows college students to create their own bookstore, set their own prices for their textbooks and meet up with students right at their campus to make exchanges.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire LYFE Accounting?

For tax preparation services

What were your goals for this engagement?

To get our taxes filed both individually and for our business.

SOLUTION

How did you select this vendor?

I only considered them as they were highly recommended through a respected colleague.

Describe the engagement in detail.

We spent about 30 minutes going through an initial consultation. Then I went through a questionnaire to get them details on our business. She requested financials and i had to sign a few documents. Standard business tax prep stuff.

Describe their billing or cost structure.

One time payment of $695

What was the team composition?

I worked mainly with one person. She prepared our taxes, reports, statements and general needs we had.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

Everything was accurate and filed on time.

How effective was the workflow between your team and theirs?

We had one meeting to file which lasted about 3 hrs.

What did you find most impressive about this company?

They go out of their way to understand their clients. I could tell our accountant wanted to be more than just our tax prepare. Also, I liked how they gave us several tips and ideas for the next time we needed to file.

Are there any areas for improvement?

Everything went well.

BACKGROUND

Please describe your company and your position there.

Sales manager for corporate hospitality company.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire LYFE Accounting?

LYFE Accounting provided financial consultation and budgeting.

What were your goals for this engagement?

To figure out how to properly distribute our sales and marketing budget for 2019.

SOLUTION

How did you select this vendor?

Through a trusted referral.

Describe the engagement in detail.

I had several things i wanted them to take a look at and give me advice. We set up a time to discuss over a video conference. During the conference, we shared screens and discussed the best approach for managing our budget.

Describe their billing or cost structure.

Billed per hour of consulting.

What was the team composition?

I worked with one person, Krystal, my CPA.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

After our consultation, I had a better understanding of how we should budget, track spending and determine the margin.

How effective was the workflow between your team and theirs?

There was not much needed for workflow. We just setup a few meetings to discuss ideas and solutions.

What did you find most impressive about this company?

Numbers and accounting are not my strong suit. I love how simple and approachable Krystal makes everything seem. She does a great job of breaking it down for anyone to understand.

Are there any areas for improvement?

No

BACKGROUND

Please describe your company and your position there.

I am the marketing manager for Game Day Connections. A marketplace that connects coaches with players.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire LYFE Accounting?

We hired them to do our monthly bookkeeping and tax preparation.

What were your goals for this engagement?

To file our taxes on time and accurately (and save money if possible)

SOLUTION

How did you select this vendor?

They were recommended by our marketing agency.

Describe the engagement in detail.

I used to handle the monthly bookkeeping, but I began to take on other tasks so hired them to take over. We provided them access to our Quickbooks and asked that they prepare our tax returns.

Describe their billing or cost structure.

We had to pay a one-time fee to catch our monthly bookkeeping up then we paid a small monthly fee then again a one-time fee for tax preparation.

What was the team composition?

I just worked with one person who our main accountant.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

We were happy that we filed our taxes on time and Krystal went out of her way to save us money.

How effective was the workflow between your team and theirs?

It was relatively simple. Krystal would call often to ask us to clarify some transactions and even suggested some things to make our business more efficient.

What did you find most impressive about this company?

I was really impressed with how knowledgable they were. I worked directly with a CPA which for the cost, we thought was great!

Are there any areas for improvement?

Nothing!

BACKGROUND

Please describe your company and your position there.

I am a co-owner at Roma's Pizza. We serve a variety of food from New American to Home Recipe's Italian, Mexican, Thai Spanish, Greek, and Fusion.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire LYFE Accounting?

To help prepare our taxes for 2018.

What were your goals for this engagement?

To get accurate financials and save money on taxes.

SOLUTION

How did you select this vendor?

We work with their other company, LYFE Marketing.

Describe the engagement in detail.

They asked several questions about our company and how we handle financials. We provided access to our POS, Bank and credit card accounts. They helped catch our booking ups recording all transactions and then prepared it for taxes.

Describe their billing or cost structure.

We paid monthly for bookkeeping and one-time for tax preparation.

What was the team composition?

I primarily work with Krystal

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

We successful filed our taxes in 2018.

How effective was the workflow between your team and theirs?

I enjoy working with our accountant, Krystal.

What did you find most impressive about this company?

I love the fee working with a CPA. When we contacted other CPAs their prices were much higher.

Are there any areas for improvement?

Nothing that I can think of. I'm very thankful for their help.