Bookkeeping for Renowned Roasted Coffee Business

INTRODUCTION

A client has a coffee business situated in South India. They needed a trustworthy bookkeeper on an urgent basis to maintain their accounts on QuickBooks. That is when they came in contact with Mercurius in 2021. After a thorough review of their books, we performed all accounting tasks that were required of us.

DISCUSSION

This client established their business in the 1930s. The Company is etched with traditional South Indian roots serving the best ground coffee to a large market in India and Overseas. They source the best coffee beans from well-grown coffee plantations. Initially, they were roasting coffee in charcoal and electric coffee roasters and started the process of manufacturing coffee powder in a small scale. Gradually their business expanded by supplying the coffee-drinking community and hotels in their country. This coffee business has been totally involved in growing, manufacturing, transporting, and selling the products to the consumer.

REQUIREMENTS

The Company is dealing in the trading of coffee powder and other tea products on various online platforms like Amazon and Shopify in India and various other countries overseas such as the United Kingdom, United States, and Canada. The client needed a reliable and experienced accountant for bookkeeping projects in QuickBooks. They wanted someone who could record and match sales from different online platforms and expenses and reconcile the transactions. Further, the automated software, A2X, was very expensive for them which was previously used by them. The client asked us to maintain books of accounts to record data and match the payouts received from Shopify and Amazon based on various reports. Also, they wanted to record the expenses incurred. This task was to maintain the books and to reconcile the transactions with the bank transactions.

SOLUTION

Mercurius is one of the renowned accounting agencies which is run by one of the best accountants. We have a team of highly trained professionals in the E-Commerce sector. Each personnel has ample experience in serving clients around the globe from various E-commerce industries. We allotted our best accountants for the assigned tasks.

We started first, with the study of books based on the previous data received. Also, we analyzed under which chart of accounts the expenses were recorded and rectified them, in case any changes were required. After being satisfied with the scrutiny, we started recording the transactions manually and matching the same with the payment received. Apart from this, we also assisted them via calls whenever they needed our guidance.

The client was really helpful and was always available whenever we required their help either on pending transactions or any other company matters. Meeting their needs with the utmost quality of work was our top priority.

CONCLUSION

This newly associated client with Mercuirus was looking for an accountant to assist them in bookkeeping for their E-Commerce coffee business. Through a well-thought-out process, we updated their books correctly after referring to the previous data manually. This helped the client to shift from automated software A2X to manual recording as the software subscription was costly and wasn’t able to provide timely assistance. Now, they can review and discuss the company’s financial reports. We completed bookkeeping and shared the reports for the financial year 2022. Since they were satisfied with our services, they further assigned us to file taxes as well.