Acuity Accounting

BACKGROUND

Introduce your business and what you do there.

I’m the executive director of a national organ donation organization.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Acuity Accounting?

We needed a new accounting partner since our previous vendor wasn't as efficient and didn't provide the guidance we expected from an accounting partner.

SOLUTION

What was the scope of their involvement?
We're currently engaging Acuity Accounting with our full portfolio of accounting and finance services. The team provides a fractional CFO, a fractional controller, and a fractional bookkeeper. We initially had a kick-off meeting with Acuity Accounting's team, and I also worked with a fourth teammate to go through the integration process with our various systems and tools. We gave Acuity Accounting access to our bank and investment accounts, as well as our Amazon accounts. 

As I anticipated, Acuity Accounting has identified opportunities for improvement. For instance, the team has conducted the process to ensure that our website sales flow into QuickBooks, integrating it with a third-party software company to translate information from our website to QuickBooks. In one year, Acuity Accounting has changed our financial requirements and approval processes. The team has implemented BILL and brought on a new payroll processing vendor. Acuity Accounting has changed our chart of accounts; we were previously in Virginia and moved to another state.

Additionally, Acuity Accounting has created a new employee handbook with all our new policies integrated with the PTO information in our payroll system. The team has reached out to states where we have events so we can get state sales tax exemptions. Acuity Accounting has realized our Forms W-2 weren't filled out correctly and were missing our healthcare balances. 

Acuity Accounting has conducted a review of our salary deductions and changed our credit cards. The team has also assisted in moving our investment account from Vanguard to JPMorgan Chase. Finally, Acuity Accounting has comprehensively reviewed our insurance policies,  including our medical, cyber, umbrella, terrorism, crime, and liability insurance. The team has helped us with our 2022 audit update and has kicked things off for our 2023 audit.

What is the team composition?
I've worked with four teammates from Acuity Accounting.

How much have you invested with them?

We’ve spent roughly $100,000 with Acuity Accounting. The original scope of work has grown because the team has recognized more necessary work.

How did you come to work with Acuity Accounting?

We published an RFP for accounting firms in December 2022 after we ended our engagement with our previous accounting partner.

What is the status of this engagement?

We’ve been working with Acuity Accounting since January 2023.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?
I can't say enough good things about Acuity Accounting. The entire team is excellent; they're proactive and really efficient. We're a much healthier organization now than we were one year ago. Acuity Accounting has significantly helped us save time with our monthly financial reports and budgeting, and our yearly audit. But more important than the amount of time and money is the quality of the team's work, which is so much better than the one from our previous vendor.  

Acuity Accounting has integrated our website with QuickBooks, which wasn’t a small amount of effort, and removed many of the previous manual processes. Acuity Accounting has a very clear rollout monthly process and has helped us save money through tax exemptions. For instance, we've recently saved $6,000 at an event in Texas because Acuity Accounting reduced our accounting bills. 

How did Acuity Accounting perform from a project management standpoint?
We have an efficient cadence of meetings throughout the year with Acuity Accounting. I meet with the team's bookkeeper weekly for around 15 minutes on Fridays, and then I meet with the controller monthly to go through our monthly reports. I meet with the CFO as needed and engage her with the more strategic decisions and major budget changes we've made.

Acuity Accounting delivers work on time and within budget. The team is flexible and collaborates effectively via Google Docs. We communicate through email, text messages, and phone calls. 

What did you find most impressive about them?
I'm impressed with Acuity Accounting's eagerness to understand our complex business demands since we're an organ donation organization. The team reads our website information and has become a strong business partner instead of an accounting vendor.

Are there any areas they could improve?

I can't think of anything Acuity Accounting can improve.

Do you have any advice for future clients of theirs?

I recommend engaging Acuity Accounting as a real business partner, and they'll rise to the challenge.

BACKGROUND

Introduce your business and what you do there.

I’m the COO and business partner at Kanopi Studios.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Acuity Financial Experts?

Our books were all in PDF form so it was very hard to track what was going on. We initially hired them because we were looking to digitize our bookkeeping process.

SOLUTION

What was the scope of their involvement?

They imported all of the PDF versions of our 2016 books and did a manual entry of everything to get it all digitally up to date, making sure that the numbers matched and were categorized correctly. It was a hefty clean-up. Now, they manage all of the bookkeeping for both our US and Canada organizations, as well as all of our different bank and credit card accounts. 

They also work with our accountant each year to manage our taxes. I work specifically with one person who makes sure that our bookkeeping and finance reports are accurate, up-to-date, and ready for taxes when they come up. Additionally, they help us tag receipts and match them to entries in our books.

What is the team composition?

We work with Debi (Cloud Accounting Specialist, Acuity Financial Experts) who serves as the bookkeeper for this project and we also meet with a different CFO every quarter for 30 minutes who makes sure that everything is tidy and gives us advice.

How did you come to work with Acuity Financial Experts?

We were introduced to them by another company that was similar to ours. 

How much have you invested with them?

We invest about $12,000 per year. 

What is the status of this engagement?

We started working with them in January 2017 and our engagement is still ongoing.

RESULTS & FEEDBACK

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

Their work has made a tremendous impact on our business. We’re now able to do financial forecasting because everything is set up and categorized correctly in our books. We were never able to do any digital financial modeling before so their work has been helpful in determining our business performance and understanding our expenditure.

I also don’t have to do any manual entries in spreadsheets anymore so it’s been a huge relief for our administrative team to not have to work manually.

How did Acuity Financial Experts perform from a project management standpoint?

They work with QuickBooks but we use Xero, so that’s what they’ve been using throughout this project. They’re detail-oriented and very communicative. If we want to add another service to our Xero account, they’ll help us and then they’ll follow-up in the future to see if it’s working well. If it’s not, they work with us to change it.

I email Debi about 6–7 times a month and they don’t charge us for any of those emails. I’ve also done a few Zoom calls with her as well and if I’m unfamiliar with anything, she will share her screen with me and give me a tutorial on how to do it. 

What did you find most impressive about them?

I am impressed with their ability to take the work and run with it. They’re very responsive and trustworthy. They’re trusting, flexible, and very willing to work with you to manage expectations. They will also meet with your accountant, CEO, and anyone else to make sure that the setup of the books is correct.

Are there any areas they could improve?

No, I can’t think of anything.

Do you have any advice for potential customers?

Meet with your account manager and your bookkeeper at the same time so you’re all on the same page. That setup was a little complicated for us because we are based in Canada and the US so we had two different currencies.

BACKGROUND

Please describe your company and position.

I am the Office Manager of Pettigrew Plumbing and HVAC

Describe what your company does in a single sentence.

Plumbing, heating and HVAC service and installation.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Acuity Accounting to accomplish?

• Annual tax returns
• Ongoing bookkeeping
• Annual tax returns and ongoing bookkeeping

SOLUTION

How did you find Acuity Accounting?

• Online Search

Why did you select Acuity Accounting over others?

• Referred to me

How many teammates from Acuity Accounting were assigned to this project?

2-5 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

Acuity provides all of our ongoing bookkeeping, prepares monthly financial statements, and does all of our tax returns.

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

The are excellent, professional and very thorough at completing all or our ongoing bookkeeping, preparing monthly financial reports and annual tax returns.

Describe their project management. Did they deliver items on time? How did they respond to your needs?

Yes, they are always timely and always respond to any questions or issues very promptly. They are always available for whatever I need.

What was your primary form of communication with Acuity Accounting?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

The expert quality service and attentiveness to our business needs.

Are there any areas for improvement or something Acuity Accounting could have done differently?

No, they are great!!

BACKGROUND

Please describe your company and position.

I am the Finance Manager of a motion pictures & film company. 

Describe what your company does in a single sentence.

Event and Video Production

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Acuity Accounting to accomplish?

• Monthly Close Outs
• Ensure our books are healthy and correct

SOLUTION

How did you find Acuity Accounting?

Referral

Why did you select Acuity Accounting over others?

• High ratings
• Good value for cost
• Referred to me

How many teammates from Acuity Accounting were assigned to this project?

1 Employee

Describe the scope of work in detail. Please include a summary of key deliverables.

Monthly Closeouts

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

Timeliness and Ability to have quick solutions

Describe their project management. Did they deliver items on time? How did they respond to your needs?

Very timely

What was your primary form of communication with Acuity Accounting?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

We were impressed with their willingness to help answer questions and give insight into helpful solutions.

Are there any areas for improvement or something Acuity Accounting could have done differently?

More knowledge on programs that can help outside of QBO and helpful tips vs just quick textbook answers

BACKGROUND

Please describe your company and position.

I am the Chief of Staff of a business services company.

Describe what your company does in a single sentence.

Full-service event management for multiple industries.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Acuity Accounting to accomplish?

• accounting
• bookkeeping
• controller services

SOLUTION

How did you find Acuity Accounting?

Referral

Why did you select Acuity Accounting over others?

Referred to me

How many teammates from Acuity Accounting were assigned to this project?

2-5 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

Acuity is our accounting firm, providing: 

• tax planning
• bookkeeping
• controlling services

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

This does not really apply

Describe their project management. Did they deliver items on time? How did they respond to your needs?

Yes, very timely and responsive to our needs.

What was your primary form of communication with Acuity Accounting?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

We were impressed with their organization and attention to detail.

Are there any areas for improvement or something Acuity Accounting could have done differently?

no

BACKGROUND

Please describe your company and position.

I am the CFO of a consumer products company 

Describe what your company does in a single sentence.

Pet supplements

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Acuity Accounting to accomplish?

• Accounting

SOLUTION

How did you find Acuity Accounting?

Referral

Why did you select Acuity Accounting over others?

• High ratings
• Pricing fit our budget

How many teammates from Acuity Accounting were assigned to this project?

2-5 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

Ongoing bookkeeping and accounting services

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

Monthly accounting aka "closing the books"

Describe their project management. Did they deliver items on time? How did they respond to your needs?

N/A, no projects but regular services

What was your primary form of communication with Acuity Accounting?

Virtual Meeting

What did you find most impressive or unique about this company?

They have great people and are consistent and accurate with their work.

Are there any areas for improvement or something Acuity Accounting could have done differently?

N/A