CapexCPA

BACKGROUND

Introduce your business and what you do there.

I’m the CEO of an IT company.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with CapexCPA?

We didn’t have enough resources to take care of the bookkeeping, and we needed a company to help us.

SOLUTION

What was the scope of their involvement?

We hired them to take care of the bookkeeping and the payroll. They asked me to connect our accounts to a QuickBooks cloud account. I connected our bank account, the credit cards, and all the other accounts to QuickBooks. They configured an account with Wagepoint so that they can do the payroll.

What is the team composition?

I always discussed matters with the owner. I don’t know if there are any other team members.

How did you come to work with CapexCPA?

We discovered them on the QuickBooks platform where they recommend companies. One of the companies was CapexCPA and I sent them a message and they replied. They explained how their system worked and it sounded good.

How much have you invested with them?

We spent $5,000.

What is the status of this engagement?

We started working together in January until November 2019.

RESULTS & FEEDBACK

What evidence can you share that demonstrates how the engagement went poorly?

When they presented the year-end results, we discovered that they didn’t even make the separation between Canadian and U.S. dollars in the sales column. The second issue I saw was with the payroll. They made three mistakes in a row.

After that, we decided enough is enough. Our accountant reviewed the situation and he was able to correct the things and we were able to file our taxes and pay them. I’m not 100% that everything is bulletproof.  

How did CapexCPA perform from a project management standpoint?

At the beginning, we communicated every two weeks. When I saw that they withdrew the money from our account, I wasn’t sure how that happened. I sent him an email and he called me to explain that during the process of onboarding me, I signed that they can withdraw money from my account. I was fine with it once he explained it to me.  

I once scheduled a meeting on Google Hangouts and they didn’t show up. I sent them an email and they had been waiting for me to call them. Maybe it was a misunderstanding, but I don’t know what happened. 

Every time I tried to discuss the project with them, the owner would give me a timeslot to discuss. The discussions were very brief. What was concerning me most during the last few weeks of the work with them was the fact that they weren’t able to explain some numbers. The project management looked very good at the beginning, but I think they started rushing the project.

Is there anything that went well?

They use cloud technologies. We love working with solutions that are in the cloud.

Are there any areas they could improve?

They should train more qualified people and be careful with the other company’s money. They shouldn’t do mistakes as they did with us. 

BACKGROUND

Please describe your company and position.

I am the President of Everline Coatings & Coatings Toronto East

Describe what your company does in a single sentence.

We are a full-service asphalt maintenance company!

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire CapexCPA to accomplish?

• Do all my accounting for my company
• Take care of bookkeeping

SOLUTION

How did you find CapexCPA?

Referral

Why did you select CapexCPA over others?

• Great culture fit
• Referred to me
• Company values aligned

What was the size of CapexCPA’s team?

2-5 Employees

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

Do my bookkeeping and file all my taxes

RESULTS & FEEDBACK

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

• The updated reminder of my tasks, monthly reports

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

Yes they delivered in a very timely manner

What was your primary form of communication with CapexCPA?

• Virtual Meeting
• Email or Messaging App

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

Responsiveness, software they used and using AI

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

I am pleased with the outcomes.