The Problem:
Over a period of time, the client had established a procedure to pay their major vendors via wire transfer. They neglected to properly debit Accounts Payable for these payments. The Accounts Payable balance grew into a huge number (several million dollars) and the client did not have the resources to perform a reconciliation of the transactions to clean up the balance sheet. They approached us for help.
Our Solution:
We took over management of this project for the client and assigned a team of more than 20 associates to reconcile the wire transfers over a 12 month period.
Great Results:
We reconciled all transactions and cleaned up their Accounts Payable records, all at a cost much more reasonable than those charged by traditional consulting/accounting firms. Our client was extremely appreciative of our work and acknowledged they could not have done this on their own.
