Discover how Innovation Bookkeeping & Consulting has transformed businesses through expert financial management, strategic planning, and comprehensive problem-solving. These case studies showcase our commitment to turning financial chaos into clarity and growth.
How we transformed seven years of financial chaos into organized, compliant records and saved our client from devastating tax penalties.
A client approached Innovation with a significant challenge: their financial records were in complete disarray, and they needed help cleaning up their books and migrating from an outdated accounting system to QuickBooks Online. Most critically, we discovered that the client had not processed their business or personal income taxes since 2016, leaving seven years of back taxes unaddressed.
Outdated and inaccurate chart of accounts
Incorrectly recorded revenue and expense data
Improperly booked loans and liabilities
Business credit card transactions missing
Personal expenses categorized as business
Inaccurately calculated payroll taxes
Rebuilt the entire chart of accounts to accurately reflect company financials with proper transaction classification.
Located and recorded missing revenue with custom accounts for various income streams and clearer financial insights.
Integrated sales applications with QuickBooks Online for seamless data flow and reduced future errors.
Processed overlooked payroll tax returns and recalculated taxes for compliance and accuracy.
Connected client with trusted Tax Advisor to process old returns and minimize penalties and late fees.
Established monthly bookkeeping relationship to maintain accuracy and prevent future issues.
Through Innovation's comprehensive clean-up and migration process, the client's financial records were brought up to date, providing them with a clear and accurate financial picture for the first time in years. The client now operates with complete peace of mind, knowing their books are in order and their tax obligations are under control.
Our Custom Projects and Bookkeeping Services can transform your financial chaos into clarity.
How we stopped the cash bleed and established robust financial processes that transformed a struggling business into a thriving operation.
A client approached Innovation struggling to understand where their cash was going, leading to significant financial leaks. They desperately needed help developing standard operating procedures and processes to manage their finances more effectively and stop the cash hemorrhaging.
Books needed detailed revenue account breakout to reflect different income streams
Poorly tracked expenses leading to excessive cash outflows that couldn't be explained
Bank accounts needed updating to differentiate between unearned and earned income
Need to establish customer liability accounts for project deposits and prepayments
Cleaned up existing books and implemented new chart of accounts with detailed revenue accounts for clearer income stream visibility.
Developed new revenue process including work in progress (WIP) tracking and proper income recognition guidelines.
Identified cash drain areas and provided tools and strategies to monitor and control expenses, stopping the cash bleed.
Updated bank accounts to separate unearned from earned income and created customer liability accounts for deposits.
We designed and implemented comprehensive SOPs to streamline the client's financial processes. These procedures helped standardize operations, reduce errors, and provide a consistent framework for managing finances moving forward.
The client gained clear understanding of their cash flow and established a robust process framework. The newly structured chart of accounts and revenue processes provided precise visibility into income streams, allowing for better decision-making and sustainable growth.
Our Fractional CFO and Business Operations services can help you gain control and build sustainable growth.
How we uncovered $45,000 in unpaid payroll taxes, negotiated with seven state tax departments, and saved our client over $25,000 in penalties while positioning them for a successful business sale.
A client approached Innovation with serious concerns about their financial records. Their current accountant had been unresponsive for over four months, leaving them uncertain about the state of their books. They requested a thorough review of the past three years of accounting to ensure everything was in order.
Critical Discovery: Over $45,000 in unpaid payroll taxes dating back to 2015
Numerous transactions were completely missing from the records
Sales were incorrectly entered, leading to inaccurate revenue reporting
Massive payroll tax liability dating back to 2015
Expenses and equity were misallocated, distorting financial statements
Incorrect asset and liability accounts were present
Chart of accounts not tailored to client's industry
Completely renovated chart of accounts, ensuring industry-appropriate structure and eliminating financial misrepresentation.
Created new income accounts reflecting accurate revenue streams and established Cost of Sales accounts for proper gross profit reporting.
Negotiated with seven different state tax departments, successfully reducing penalties and late fees by over $25,000.
Identified and correctly entered all missing transactions, meticulously reviewed and corrected sales entries.
Correctly reclassified misallocated expenses and equity, ensuring financial statements accurately reflected the client's position.
Reviewed and adjusted erroneous asset and liability accounts to align with actual financial situation.
Through expert negotiation with seven state tax departments
Through Innovation's comprehensive review and clean-up process, the client's books were brought up to date and significant financial risks were mitigated. The client became a monthly bookkeeping client for three years, during which time Innovation assisted in positioning the company for a successful sale.
Our Custom Projects and Compliance Services can help you resolve complex financial challenges and save thousands in penalties.
From financial chaos to strategic growth—discover how Fractional CFO services transformed stress and confusion into confidence, clarity, and doubled profits.
When this Southeast-based general contractor first came to Innovation Bookkeeping & Consulting, they were in a season of growth—but not the kind that feels smooth or sustainable.
Revenue was climbing past $800K, but behind the scenes, things were messy. Their books were disorganized, cash flow was unpredictable, and their pricing and estimating processes lacked clarity. Employees weren't aligned with company goals, and the owner was juggling everything—from project management to payroll—while also working on job sites.
The result? Stress, frustration, slipping project deadlines, and profits draining away faster than they could grow.
They had big goals but needed a clear path—and a financial structure that could support them.
During our initial review, it became clear that the client didn't just need bookkeeping support—they needed strategic leadership and a complete financial reorganization.
Unclear pricing model and estimating process
Inefficient structure hiding true gross profit per project
Misallocated expenses between direct costs and operations
Team disconnected from company goals and their contribution
The business didn't just need cleaner books—it needed a strategy. They needed an organizational reset, not just accounting help.
We stepped in with hands-on financial leadership and operational support to transform their business.
Rebuilt their entire accounting system for accuracy and clarity, creating a solid financial foundation.
Provided full accounting support to ensure seamless daily management and operational efficiency.
Built custom dashboards tracking cash flow forecasts, budget vs. actuals, and critical KPIs.
Identified true job costs through detailed analysis, improving pricing accuracy and profitability.
Implemented project budgeting systems to ensure profitability on every single job.
Monthly executive strategy meetings kept the owner informed, confident, and accountable to goals.
Within just 12 months, the contractor's profits more than doubled.
The owner gained confidence in his financial strategy and clarity in his business vision
He spent less time in the field and more time leading his company strategically
Employees began taking ownership of their roles
Team aligned with company goals, creating a stronger, unified culture
When financial strategy, operational structure, and team alignment come together—growth follows naturally.
At Innovation Bookkeeping & Consulting, we don't just manage your books—we help you build the kind of financial foundation that turns potential into profit.
Our Fractional CFO Services can help you build the financial foundation your growing business needs.
These case studies represent just a fraction of the transformations we've achieved. Whether you're facing financial chaos, cash flow challenges, or compliance issues, Innovation Bookkeeping & Consulting has the expertise to turn your situation around.
Transform chaotic financial records into organized, compliant systems. We've resolved years of back taxes and saved clients thousands in penalties.
Learn More About Custom ProjectsStop cash leaks and establish robust financial processes. Our strategic approach provides clarity and control over your business finances.
Explore Fractional CFO ServicesResolve complex tax issues and ensure ongoing compliance. We've negotiated with multiple state departments to save clients significant penalties.
View Compliance ServicesReal results from real clients across multiple industries
Don't let financial challenges hold your business back. Schedule a free consultation and discover how we can help you achieve similar results.
The case studies presented on this page represent actual client experiences and results achieved through our services. However, individual results may vary based on each client's unique circumstances, business situation, level of engagement, and commitment to implementing recommended strategies. The outcomes described are not guarantees of future performance and should not be considered typical. Success depends on many factors including the client's active partnership with Innovation Bookkeeping & Consulting throughout the engagement and their willingness to implement suggested changes and systems.