JBC

Obstacle
  • JBC is a reseller of promotional products including paper, apparel, signage, and other merchandise.
  • The president of the company needed help with all areas of Accounting to keep up with its growth, and so he could focus on sales.
  • High-volume of transactions, no established accounting system for reconciliations or reporting
  • Long list of past dues from customers and vendors
  • Invoicing process took too long
Solutions 
  • TMG cleaned up the books and established systems for both A/R and A/P to address current issues.
  • TMG developed a regular process for closing the month, including careful reconciliations of all accounts.
  • TMG recommended and executed new accounting processes & procedures to support JBC’s growing business (including:  wire & EFT payments, making deposits, expense reimbursements, purchase order tracking, commissions calculations, etc.)
  • TMG prepared monthly financial reports, customized to JBC’s needs and provided an analysis of the numbers.
  • TMG conducted an annual overview of JBC’s financial status with recommendations for the upcoming year.
  • TMG uncovered other unaddressed inefficiencies that existed and provided proactive solutions to advise JBC on these items so the company could get ahead of them (examples include:  1099 management, benefits coordination, credit card management, etc.)
  • TMG worked closely with JBC’s payroll company, benefits coordinator, and tax accountant to ensure a cohesive team and well-run system for conducting all financial business.
Results 
  • JBC’s president was freed up to focus on sales and growing the company.
  • JBC’s vendors were paid in a timely fashion.
  • JBC recovered $150,000 in previously uncollected past dues from customers.
  • JBC was able to analyze its business growth better, and conduct immediate and long-term goals better with regular financial report reviews.
  • JBC successfully increased revenue by $700,000 in 5 years, leading to a profitable acquisition by another reputable company.
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TMG was recommended when we were knee-deep in accounting issues. The transition was easy and within months we saw marked improvements in the way things were running. Every TMG consultant we’ve worked with serviced us with professional dedication. Five years later, I am celebrating the acquisition of my company which wouldn’t have been possible without TMG’s help!
Jon Brothers
President, JBC