CASE STUDIES

Problems we’ve solved for our customers

SCROLL

Flip Alors! Inc.

SERVICES USED:
Tax filing, book preparation, cost analysis, and profit analysis

Flip Alors! Inc. Uses Hornbeam to Balance Books, File Reports, and Automate Services

Flip Alors! Inc. is in the construction and real estate industry, which gives them much more pressing issues to focus on during their daily operations than tax filing and accounting book preparation. However, these are parts of a business that can cause critical problems if they’re neglected.

In addition to getting their books in order (which they have been putting off since their incorporation date), they needed T2 and corporate taxes filed, and detailed cost and profit analysis reports done on a few different buildings.

These issues eventually became too overwhelming for Flip Alors! Inc. to handle alone.

Flip Alors! Inc. hired Hornbeam for help getting their taxes filed, their accounting books in order, and their cost and profit analysis reports done. When they learned that Hornbeam provides tailored solutions that go beyond balancing books, they decided to give them a try for the various services they required.

Our team got to work updating and preparing their accounting books for tailored reporting and filing T2 and corporate taxes. We also worked on detailed cost analysis and profit analysis reports for a few fully renovated buildings the company had worked on.

Results and Benefits

Upon completion of our project with Flip Alors! Inc., we had its books in order, its taxes filed, and its analysis reports complete. To help them maintain these things in the future, we also set them up with automated QuickBooks processes integrated with Dext software to read bills and receipts and translate them into data in Quickbooks Online.

Today, the owners at Flip Alors! Inc. can rest easy knowing that all their accounting processes are in order and their current taxes are taken care of. These issues can become critical enough to shut a business down if neglected.

Coquitlam Steel Products Ltd.

SERVICES USED:
Accounting systems processes

Coquitlam Steel Products Ltd. Cuts Time Spent on Accounting Processes by 65% with Hornbeam 

Coquitlam Steel Products Ltd. has been in business for over 20 years. While they’re experts in the current steel fabrication and installation service best practices, their accounting systems processes were outdated. They were wasting time and resources using paper systems for tracking time, billing approval, and managing accounts payable. They needed to update their accounting systems processes to maintain their standard of moving quickly to supply a high-quality product for their customers.

Coquitlam Steel Products Ltd. hired us to revamp its accounting systems processes.  

We started by migrating the data from their software to Quickbooks, a leading modern cloud accounting software. Using Quickbooks allowed us to automate just about all their accounting processes, such as recording transactions directly from bank accounts linked with Quickbooks.

Next, we integrated the Quickbooks system with additional cloud software. We set up Dext for collecting and translating receipts and bills into Quickbooks data and chose ApprovalMax as their electronic/cloud billing approval system. ApprovalMax connects with Dext and QB simultaneously.

Lastly, we switched out Coquitlam Steel’s old-fashioned payroll system (which was still printing paystubs and cheques for all employees) to Wagepoint, a cloud software that takes care of all the payroll processes, including preparing paystubs, directly depositing payroll in each employee bank account, filing and remitting taxes and deductions automatically to the government, and preparing and filing year-end reporting such as T4s and T4As.

Results and Benefits

By implementing the software and processes above, we cut Coquitlam Steel’s time spent on accounting systems processes by 65%, plus a significant 20% cut from personnel costs.

Our Hornbeam team’s new accounting systems processes have freed up the company’s time and resources, allowing them to focus more on other aspects of their steel fabrication and installation services. Now they can truly live up to their promise of moving quickly to supply a high-quality product for their customers.

5024937 Ontario Ltd.

SERVICES USED:
Data entry and billing integration, bookkeeping, tax filing

5024937 Ontario Ltd. Reduces Data Entry Errors, Increases Accuracy with Hornbeam

5024937 Ontario Ltd. is an e-commerce business that sells its products on different marketplaces like Amazon and Walmart. Managing bills and keeping track of accounting across various platforms had become a significant challenge for them. They were getting tired of wasting time exporting excel sheets, customizing them, and importing the data into Quickbooks Online, but they didn’t know of any way to solve this problem.

In addition to the above issue, their previous bookkeeper had failed to keep their books in order, so they needed to redo two fiscal years’ worth of accounting and to file their T2s and corporate taxes for two years.

When 5024937 Ontario Ltd. came across our tailored approaches to solving accounting problems, they decided to give us a try, confident that we would have a solution for the issues outlined above.

Our Hornbeam team started by implementing a third-party app to facilitate the data entry from their marketplaces into Quickbooks Online. The app is designed to integrate with both Quickbooks Online and the marketplaces. In addition to reducing time waste, this also reduces data entry errors and increases data accuracy.

We also integrated Quickbooks Online with Dext, which connects with the company’s Alibaba account and automatically exports all the bills. Finally, we were able to redo two fiscal years of bookkeeping and taxes and file two years of corporate taxes and T2s.

Results and Benefits

By implementing the software and processes above, we reduced the errors in 5024937 Ontario Ltd.’s data entry, increased their data accuracy, and cut down the time wasted on exporting excel sheets, customizing them, and importing the data into Quickbooks Online.

Since partnering with us, 5024937 Ontario Ltd. received the automation it needed to stop wasting time on customizing excel sheets, exporting them from e-commerce platforms, and importing them into Quickbooks Online. They can also rest easy knowing that bills are now automatically exported, their accounting books are up-to-date, and all their corporate taxes are filed.

Meet the real humans behind the numbers

The people who make your success

Christopher Carpenito, MSc

CEO & Partner

Guy Dassi, D. Fisc., CPA

Partner, Tax Advisor

Nataniel Nezry, CPA

Partner and Strategic & Financial Advisor

Monica Toncea

Accounting Manager

Mario Spagnuolo

Senior Bookkeeper

Eugenio Parrella

Bookkeeper

Linda Musto

Bookkeeper

Valentina Musto

Bookkeeper

Money Back Guarantee

We offer a no-risk policy. After 30 days, we guarantee that if you are not happy with our services, for any reason, we will give you a full refund, no questions asked. What’s more, we are more than happy to recommend and set your company up with another provider. Ensuring your financials are completed, with the same quality standards.

We listen to your needs. We answer your questions. We solve your problems.