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Elgin USA
Elgin USA is dedicated to designing and manufacturing products to enhance the workday tools and prioritize the safety of the everyday craftsman in America.
The Challenges
Without a proper procure-to-pay (P2P) process in place, Elgin USA struggled to set up a systematic approach for reconciling accounts payable and vendor prepayments and keeping tabs on all bills and payments specifically from January 2023 to December 2023.
Additionally, they needed to catch up on recording bank and purchase order transactions from January to July 2023.
Getting a solid process in place for reconciling purchase orders and recording transactions is key to maintaining timely and accurate financial reports that drive the organization's relevant business decisions. With the right partner, these can easily be accomplished.
The Sweet Accounting Solution
With Sweet Accounting for NetSuite, our team of meticulously optimized NetSuite to efficiently record their transactions from January 2023 to December 2023, ensuring precise revenue and expense categorization to reflect their organization's financial health accurately.
We efficiently managed to address the backlog of bank and purchase order transactions from January to July 2023. Elgin USA was able to catch up to their unrecorded 7 months of financial transactions in just 2 months.
Also, we facilitated their 2023 year-end closing procedures and as requested, gave them 3 items in their Profit and Loss report so that they can improve for an increased profitability for 2024.
Supercharge Your Accounting Efficiency
Schedule a call with us and see how we can make you run your accounting team faster with Sweet Accounting for NetSuite.
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