INTRODUCTION
A finance and investment firm with multiple accounts and a high volume of transactions engaged Mercurius to ensure accurate and well-maintained financial records. Their operations spanned vendor payments, customer receipts, and ongoing investment reconciliations.
Prior to our involvement, the firm’s books were handled by another provider, which led to inconsistencies, missing entries, and disorganized data that compromised the reliability of their financial reporting.
DISCUSSIONS
The books had improper categorizations, missing transactions, and unreconciled balances across bank, credit card, and investment accounts. Vendor and customer records contained duplicates and inaccuracies, further affecting accuracy.
With investments requiring regular tracking and reconciliation, the client needed a full cleanup, a structured system for ongoing bookkeeping, and clear, timely financial reports.
REQUIREMENTS
• Clean and correct existing financial records.
• Standardize vendor and customer profiles.
• Categorize all operational and investment-related transactions.
• Reconcile bank, credit card, and investment accounts.
• Track capital calls and update investment positions regularly.
• Provide regular, structured financial reports.
SOLUTION
1. Book Cleanup & Vendor/Customer Setup
We reviewed all existing records, identified errors, and corrected or removed duplicates. Vendor and customer profiles were standardized, ensuring consistency and linking related transactions, a key step toward reliable reporting.
2. Categorization of Transactions
All uncategorized and misclassified entries were re-evaluated and properly coded. Operational expenses and revenues were separated from investment-related transactions, allowing the client to clearly measure both day-to-day performance and investment outcomes.
3. Reconciliation of Bank and Credit Card Accounts
Each bank and credit card account were reconciled with its official statement, ensuring every recorded transaction matched the actual banking records. This process corrected discrepancies and provided verified, up-to-date balances the client could depend on.
4. Reconciliation of Investment Balances & Capital Calls
Investment accounts were regularly reviewed and reconciled. Capital calls were tracked accurately, and updated investment reports were maintained, providing a real-time snapshot of positions, obligations, and available capital.
5. Ongoing Maintenance & Reporting
We set up a structured, repeatable bookkeeping process to maintain accurate records month after month. The client now receives timely balance sheets, income statements, and investment summaries for quick, informed decision-making.
6. Continuous Support
We maintained open communication with the client to clarify data points and confirm transactions. Ongoing support was provided through phone and email, ensuring the client always had confidence in the data.
CONCLUSION
We reorganized and corrected the firm’s financial records, restoring both accuracy and structure. With strengthened processes in place, the client now benefits from consistent, reliable reporting and continues to entrust us with their ongoing bookkeeping requirements. This engagement delivered a 100% client satisfaction score, upheld compliance with industry standards, and showcased our capability to provide accurate results within given timelines.
