Cleaning Up 4 Years of Backlogged Accounts

Background:

A technology startup had grown rapidly but lacked proper bookkeeping. After four years, their financial records were scattered across multiple spreadsheets, receipts, and outdated software.

Challenge:

• Inaccurate books for four consecutive years.
• Inability to secure investors due to unreliable financial statements.
• Compliance risks and tax penalties looming.

Solution:

Accountsly & Associates deployed a dedicated cleanup team. We reconciled all accounts from scratch, rebuilt accurate ledgers, filed amended tax returns, and migrated them onto a cloud-based accounting system.

Results:

• Completed full cleanup in just 10 weeks.
• Presented investors with audited, accurate financials.
• Saved the company from estimated $250,000+ in penalties and missed opportunities.

Impact:

With proper financials in place, the startup raised $3.2M in Series A funding within 3 months of the cleanup, crediting our team for making the raise possible.