INTRODUCTION
In 2022, a hospitality company in San Francisco contacted Mercurius Advisory Services to set up accounting practices after acquiring a casino. They needed reliable bookkeeping support to manage their growing operations and had no existing financial records. Our team provided comprehensive accounting and bookkeeping services, continuing into the next fiscal year.
DISCUSSION
The client is an unfunded social business established in 2015, managing three subsidiary motels that serve a broad customer base in San Francisco. Their properties offer a combination of hospitality and entertainment services, including:
• Motel accommodations
• Office spaces and meeting rooms
• On-site restaurants
• Fuel stations
• A fully operational casino
Each location caters to travelers, guests, and entertainment-seekers by providing convenience and comfort. However, despite having operations in place, the business lacked organized financial records at the time of engagement. Their focus had been on customer service and property operations, while accounting had taken a backseat.
Recognizing the importance of sound financial management, especially after the acquisition of the casino, the client reached out to Mercurius for a structured solution.
REQUIREMENTS
The client was looking for:
• Establishment of books of accounts from scratch
• Full-cycle bookkeeping and accounting services
• Clean-up of historical data
• Ongoing financial reporting for compliance and business review
• A dependable team to manage routine and year-end reporting
They sought a supplier who could provide accurate, well-structured, and timely financial reports to establish a long-term partnership.
SOLUTION
Mercurius assigned a dedicated team with strong experience in bookkeeping and payroll to support the client’s specific requirements. We focused on:
1. Book Setup and Historical Clean-up
We began by setting up the full chart of accounts, categorizing income, expenses, assets, and liabilities. Since there were no prior books, we recreated past transactions using available bank statements, invoices, and operational records.
2. Ongoing Bookkeeping Support
Our team handled all regular bookkeeping, including AP/AR management, reconciliations, and expense categorization. We also created customized reports for the client’s internal review and investor use.
3. Reporting & Compliance Oversight
The client’s decision-making was aided by balance sheets, P&L reports, and monthly financial summaries. We strictly adhered to U.S. hospitality sector standards. Deadlines for filing at the state level were regularly tracked and shared, guaranteeing prompt compliance everywhere.
Our point of contact provided prompt responses and customized solutions, keeping the client updated at every stage. While ensuring smooth communication and efficiency throughout the partnership, we designed financial frameworks to satisfy their future goals and regulatory obligations.
CONCLUSION
Mercurius helped bring clarity and structure to the client’s financial records by building accurate statements from the ground up. Our understanding of cross-border regulations and industry-specific requirements supported the creation of a reliable system aligned with audit expectations. As a result, the client now operates with improved financial visibility across their casino and motel businesses, enabling better decision-making and increased investor confidence.
