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Case Study: Payments Technology Company Engages High-Tech Bookkeeping

December 29, 2020 / by Leslie Jorgensen posted in Boston, Bookkeeping Services, Case Study Blogs

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Learn how a payments technology company optimized complex financial processes with the help of a high-tech bookkeeping and controller services company.

As an operations expert, Chris Wheeler had a clear mission when he joined Paystri, a Massachusetts-based payment processing firm: Deliver better customer service via evolving technology solutions.

That mission became more complicated when the financial administrator left the company. Wheeler had to find a new solution for handling a series of exacting bookkeeping responsibilities.

An Opportunity in Disguise
What looked at first like an insurmountable burden turned out to be a blessing. Rather than find another financial administrator, Wheeler turned instead to Supporting Strategies for outsourced bookkeeping and controller services. Not only did this eliminate the need for a full-time hire, but it also introduced Wheeler to a highly capable, technology-proficient partner that could work with him in lockstep as he optimized Paystri's customer service solutions.

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Selling in the Time of COVID-19

November 17, 2020 / by Leslie Jorgensen posted in Small Business Advice, Boston, Business Advice, Business Continuity

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Ready to increase your sales numbers? In a recent podcast, Steve Schultz shares his tactics for selling bookkeeping and controller services during COVID.

How does a company achieve sales success in a challenging market? That was the focus of a recent Sales Game Changers Podcast hosted by Fred Diamond, Co-founder and President of the Institute for Excellence in Sales.

Diamond's guest, Supporting Strategies Chief Evangelist and VP of Franchise Development Steve Schultz, said success starts with a simple reality check. "Our goals didn't change," Schultz said of the company's approach during the COVID-19 pandemic, "but our tactics have had to change."

Those adjusted tactics include the following …

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Case Study: Outsourced Bookkeeping for Online Ad Sales Tech Company

September 3, 2020 / by Leslie Jorgensen posted in Boston, Bookkeeping Services, Case Study Blogs

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With his company generating 50,000 transactions a month, this internet entrepreneur relies on Supporting Strategies for bookkeeping and controller services.

Todd Garland was working as a front-end engineer when he created a couple of design-oriented websites on the side. Frustrated with negotiating complicated online ad sales for his sites, he launched his own company, BuySellAds (BSA), to simplify the process.

The result, according to the website Foundora, was "a game changer in online banner advertising," with Garland serving as matchmaker between advertisers and website publishers whose content is a good fit for the advertiser's product.

Finding a Bookkeeper to Count On
Having his new business take off was good news, of course. The bad news? "I realized I needed to do my taxes," Garland says. He had created a custom system for logging transactions — the advertiser and the publisher each maintain a cash balance, with BSA receiving a cut of each transaction — but it wasn't designed for bookkeeping purposes. Garland needed someone who could translate the information into a form that his accountant could use for filing taxes.

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Case Study: Outsourced Bookkeeping Positions Law Firm to Handle COVID-19

July 28, 2020 / by Leslie Jorgensen posted in Boston, Case Study Blogs, Law Firm

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Supporting Strategies established cloud-based bookkeeping and streamlined back-office operations at this successful law firm — just in time for COVID-19.

Pabian & Russell, LLC, is one of Boston's most respected law firms, with expertise spanning elder law, estate planning, dispute resolution and several other practice areas. Bookkeeping, however, was causing a number of frustrations.

The firm's previous solution — an in-house team responsible for day-to-day accounts payable, accounts receivable and client billing, plus an outside accountant to close the monthly books — and processes weren't working. Attorneys were tracking billable hours on paper forms. An inefficient billing protocol led to delayed payments from clients. The firm couldn't produce reports that could guide strategic decisions.

"We were in the middle of making a lot of plans, but the lack of data was holding us back," CEO Margaret Burke notes. "Eventually we realized it made sense to hire someone and not try to do this in house."

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Case Study: Providing Comprehensive Bookkeeping Services to a Busy Surgeon

December 6, 2018 / by Leslie Jorgensen posted in Boston, Bookkeeping Services, Case Study Blogs, Healthcare

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Like many medical professionals who operate their own practices, Beverly M. Shafer MD, FACS (Fellow, American College of Surgeons), is under tremendous pressure to manage her time as efficiently as possible. "It drives me crazy when there are gaps in the schedule," says Shafer, a renowned plastic surgeon who has practiced on the North Shore of Massachusetts for over 30 years.

Shafer's combination of compassion and surgical artistry has created a high demand for her services. Meanwhile, her practice's back-office functions have become more time-consuming over the years, due to the growing complexity of insurance-reimbursement bureaucracy and a migration from paper-based to digital bookkeeping. Staff turnover compounded the problem; an outside CPA firm wound up doing many basic bookkeeping tasks. That wasn't cost-effective.

Specialized Bookkeeping Services for Healthcare Practices
A business contact encouraged Shafer to reach out to Supporting Strategies Founder and CEO Leslie Jorgensen. "I loved her immediately," Shafer says. A leading provider of outsourced bookkeeping services and operational support, Supporting Strategies began reconciling all of the practice's accounts on a monthly basis, "which is super-complicated, honestly," Shafer says. "They interface with my CPA to provide them the necessary information to do what they need to do, and they also interface with my paychecks company to get my staff paid and make sure that their taxes are correct."

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Case Study: Finding the Right Outsourced Bookkeeping Solution for a Law Firm

October 5, 2017 / by Leslie Jorgensen posted in Boston, Bookkeeping Services, Case Study Blogs

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A law firm set up their bookkeeping processes right by hiring professional bookkeeping resources. However, they found that bookkeeping services are not all the same — and they needed to rethink their approach to find a successful solution.

Losing Billable Time
Founded outside Boston in 2002, Company Counsel is a boutique law firm that provides virtual general counsel services to emerging companies, venture funds and angel investor groups.

As their business grew, Company Counsel tried the

 same outsourced approach with their bookkeeping and operational support, working with individual bookkeepers and then a small bookkeeping company. However, the firm's partners were soon spending too much time handling operational matters and answering questions from the bookkeepers — time that could be better spent on client work.

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Fall Bootcamp Series: Business Fundamentals Bootcamp

September 22, 2017 / by Erica Mitchell posted in Boston, Orlando, Southern New Hampshire, Northeast Florida, Merrimack Valley, North Shore Long Island, Bookkeeping Services, Boise Idaho, Brooklyn - Staten Island

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Hosted by Supporting Strategies, the Business Fundamentals Bootcamp is designed for the CEOs and CXOs of early- and growth-stage companies. The events include speakers and panelists who lend their expertise on tactical issues and opportunities for growing businesses focused on topics in marketing, finance, law and human resources. View the full schedule online and register to join us at one of these events.

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Software Solutions for Property Accounting

March 1, 2017 / by Kelly Rodrigues-Umbelina posted in Boston, Business Advice

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Property accounting, or accounting for residential and commercial properties, has its own unique set of challenges. The tasks of accounts payable and accounts receivable become intertwined with executing leases, managing tenants' billable charges and tracking common area maintenance costs.

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Current Technology Can Streamline Foreign Currency Processing

November 8, 2016 / by Lauren Wilson posted in Boston, Bookkeeping 101

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What's the key to being a successful accounting professional today? One answer, according to the American Institute of Certified Public Accountants: "Understand emerging technologies."

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Syncing Harvest with QuickBooks Online

October 11, 2016 / by Kelly Rodrigues-Umbelina posted in Boston, Bookkeeping 101

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Working in the bookkeeping services business, I use an array of web-based tools to help my clients. When these programs work well together, keeping organized becomes that much easier. 

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