Bookkeeping & Accounting Services for Construction Co
- Accounting Fractional CFO Services Funding & Investment
- $10,000 to $49,999
- Feb. 2023 - July 2024
- Quality
- 5.0
- Schedule
- 5.0
- Cost
- 5.0
- Willing to Refer
- 5.0
"Their innovative solutions and dedication to leveraging the latest tools set them apart from other firms."
- Other industries
- Ottawa, Ontario
- 51-200 Employees
- Online Review
- Verified
Profitjets provided bookkeeping and accounting services for a construction company. The team managed the client's financial transaction records, financial reporting, tax preparation, and employee payroll.
Profitjets' work reduced bookkeeping errors by 30%, annual tax liabilities by 15%, and increased customer satisfaction rates by 95%. The team delivered all milestones on time and was responsive to the client's needs. The team's solutions and dedication to leveraging the latest tools stood out.
The client submitted this review online.
BACKGROUND
Please describe your company and position.
I am the CEO of a construction company
Describe what your company does in a single sentence.
Our company specializes in comprehensive mold inspection, testing, and remediation services, ensuring healthier environments with advanced technology and expert solutions.
OPPORTUNITY / CHALLENGE
What specific goals or objectives did you hire Profitjets to accomplish?
- Ensure accurate and timely bookkeeping for all financial transactions to maintain up-to-date records.
- Prepare detailed financial reports and statements to support decision-making and financial planning.
- Implement efficient accounting systems and processes to streamline financial operations and enhance productivity.
SOLUTION
How did you find Profitjets?
Online Search
Why did you select Profitjets over others?
High ratings
How many teammates from Profitjets were assigned to this project?
2-5 Employees
Describe the scope of work in detail. Please include a summary of key deliverables.
Profitjets was hired to manage the complete bookkeeping and accounting needs of our company. The scope of work included the following responsibilities:
- Bookkeeping: Maintain accurate and up-to-date records of all financial transactions, including expenses, revenues, invoices, and payments. Ensure proper categorization and documentation of each transaction in the accounting software.
- Financial Reporting: Prepare comprehensive financial reports on a monthly, quarterly, and annual basis. These reports include profit and loss statements, balance sheets, cash flow statements, and other customized reports as needed to provide insights into the company's financial health.
- Tax Preparation and Compliance: Ensure timely and accurate preparation of all tax documents, including GST/HST filings, payroll taxes, and annual income tax returns. Stay updated on the latest tax regulations to ensure compliance and identify opportunities for tax savings.
- Payroll Management: Handle the processing of employee payroll, including calculating wages, withholding taxes, and managing direct deposits. Ensure compliance with all relevant labor laws and regulations.
- Accounts Receivable and Payable: Manage the accounts receivable and accounts payable functions, including issuing invoices, tracking payments, and managing vendor relationships. Ensure timely collection of receivables and prompt payment of liabilities.
- Budgeting and Forecasting: Assist in the creation and monitoring of budgets and financial forecasts. Provide insights and recommendations based on financial data to support strategic planning and decision-making.
- Audit Support: Prepare necessary documentation and provide support during internal and external audits. Ensure all financial records are accurate, complete, and ready for review.
- Key Deliverables:
- Monthly financial statements and reports.
- Accurate and timely tax filings.
- Efficient and compliant payroll processing.
- Up-to-date and accurate bookkeeping records.
- Comprehensive annual financial reports.
- Regular budget and forecast reports.
- Documentation and support for audits.
RESULTS & FEEDBACK
What were the measurable outcomes from the project that demonstrate progress or success?
- Reduction in Errors: Achieved a 30% reduction in bookkeeping errors through meticulous record-keeping and regular audits.
- Timely Reports: Delivered monthly financial reports consistently within five business days after the end of each month.
- Tax Savings: Identified tax-saving opportunities that resulted in a 15% reduction in annual tax liabilities.
- Payroll Accuracy: Maintained 100% accuracy in payroll processing, ensuring timely and correct payments to all employees.
- Improved Cash Flow: Enhanced cash flow management resulting in a 20% improvement in the company’s liquidity.
- Audit Readiness: Successfully passed external audits with no major findings, demonstrating compliance and accurate financial practices.
- Customer Satisfaction: Achieved a 95% satisfaction rate from stakeholders regarding the clarity and usefulness of financial reports.
Describe their project management. Did they deliver items on time? How did they respond to your needs?
Profitjets demonstrated exceptional project management skills throughout our engagement. They consistently delivered all items on time and often ahead of schedule. Their team was highly responsive to our needs, addressing any concerns or questions promptly and efficiently.
Their proactive approach to communication ensured that we were always informed of the project’s progress, upcoming deadlines, and any potential challenges. They also provided regular updates and detailed reports, which made it easy for us to stay on top of our financial situation.
Profitjets’ ability to anticipate our needs and offer tailored solutions significantly contributed to the success of our projects. Their professionalism and commitment to excellence made them a reliable partner in managing our accounting and bookkeeping needs.
What was your primary form of communication with Profitjets?
- In-Person Meeting
- Virtual Meeting
- Email or Messaging App
What did you find most impressive or unique about this company?
What I found most impressive and unique about Profitjets was their unwavering commitment to accuracy and detail. Their meticulous approach to bookkeeping and accounting ensured that every transaction was recorded correctly, and their thorough financial reports provided invaluable insights into our business operations.
Additionally, their proactive communication and responsiveness were standout qualities. Profitjets consistently kept us informed and addressed our needs promptly, often anticipating potential issues before they arose. This level of service went above and beyond our expectations.
Another unique aspect was their ability to integrate advanced accounting technologies into our processes, which streamlined our financial operations and improved overall efficiency. Their innovative solutions and dedication to leveraging the latest tools set them apart from other firms.
Are there any areas for improvement or something Profitjets could have done differently?
While our experience with Profitjets has been overwhelmingly positive, there is always room for growth and improvement. One area where they could enhance their service is by offering more frequent training sessions or workshops for our internal team. This would help us better understand the nuances of financial management and make the most of the tools and processes they have implemented.
Additionally, expanding their services to include more strategic financial planning and advisory could provide even greater value. This would allow us to benefit from their expertise not just in managing day-to-day finances but also in long-term financial strategy and growth planning.
Overall, these suggestions are more about taking an already excellent service to the next level rather than addressing any shortcomings. Profitjets' dedication and high standards make us confident that they will continue to excel and innovate.
RATINGS
-
Quality
5.0Service & Deliverables
"Profitjets consistently delivered high-quality service and exceptional deliverables."
-
Schedule
5.0On time / deadlines
"Profitjets demonstrated outstanding reliability in meeting all deadlines."
-
Cost
5.0Value / within estimates
"Profitjets offered exceptional value for money."
-
Willing to Refer
5.0NPS
"I am highly likely to recommend Profitjets to anyone in need of top-notch accounting and bookkeeping services.
