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In this case study, we’ll share Sherif’s journey and how Ledge Accounting helped Raleigh Raw bring order and clarity to its monthly financials, payroll, and QuickBooks management, ultimately creating a system that allows Sherif to focus more on his business.
The Challenges
Before partnering with Ledge Accounting, Sherif encountered a range of issues that made managing Raleigh Raw’s books difficult. After working with three different accountants who didn’t understand the specifics of his business, Sherif was feeling frustrated and overwhelmed.
"I went through three different accountants before we found Ledge," Sherif says. "We didn’t know what we didn’t know. Being new to business in general, and especially to the restaurant industry, we needed help."
Here are some of the key challenges he faced:
Lack of Proactivity
Previous accountants were not proactive in managing Raleigh Raw's bookkeeping needs. "We kept thinking the accountant was doing stuff, and they weren’t," Sherif explains. This lack of attention led to missed deadlines and, ultimately, costly issues.
Unresolved Tax Issues
One of the biggest issues Sherif discovered was unpaid payroll taxes. "We had payroll taxes that weren’t being submitted—to the tune of $45,000. We didn’t know until a year later," he recalls. The missed payments were a significant burden on Raleigh Raw, as the restaurant had to cover the accumulated liability. Additionally, Sherif found out that year-end taxes for 2017 were never filed, adding another layer of stress.
Miscommunication and Delays
Another frustration was the lack of reliable communication. Sherif often felt that the accountants assumed his team was handling specific tasks, which resulted in important deadlines slipping through the cracks. "We just didn’t feel like we were getting the attention we needed," he says. "If you’re not proactive with your bookkeeping, then you have to be reactive—and that’s much, much harder."
Lack of Industry Expertise
Managing monthly financials in the restaurant industry can be uniquely challenging due to the high volume of transactions, specific tax strategies, and cash flow nuances. Raleigh Raw’s previous accountants didn’t have experience in restaurant bookkeeping, meaning they often missed opportunities for tax savings. "We needed someone who really understood the restaurant game," Sherif notes.
The Solution: Ledge Accounting’s Specialized Approach
When Sherif partnered with Ledge Accounting, he quickly noticed a difference. Ledge brought industry-specific knowledge, a responsive communication style, and a proactive approach to Raleigh Raw’s monthly financials. Here’s how Ledge addressed each of the challenges Sherif was facing:
1. Industry-Specific Expertise and Proactivity
One of the things I appreciated about Ledge was that they came from doing books for our type of business," Sherif says. Ledge Accounting understands the nuances of restaurant bookkeeping and provided Raleigh Raw with insights specifically focused on the restaurant industry. Unlike previous accountants, Ledge was familiar with the unique cash flow needs of a restaurant business, as well as specific tax strategies that could benefit Sherif’s bottom line
2. Clear and Responsive Communication
Ledge Accounting prioritizes responsive communication, making it easy for Sherif to get answers when he needs them. "If I have a question, I can reach out to any member of their team and get a response within 24 hours," he shares. With multiple points of contact, Raleigh Raw never faces bottlenecks or delays, ensuring Sherif can stay informed and confident in his financial data.
3. Transparency and Integrity
Sherif also appreciates Ledge’s honesty about areas outside their expertise. "If there's something they don’t specialize in, they let us know right away," he explains. For instance, Ledge advised Sherif to seek a separate accountant for his real estate investments, recognizing that specialized knowledge was needed. This level of transparency gave Sherif confidence that Ledge always had Raleigh Raw’s best interests in mind.
4. Cost-Effective Solutions
Ledge Accounting’s services are priced fairly, according to Sherif, especially considering the level of support and responsiveness they provide. "The price is fair, and there are no hidden fees for communication," he says. This cost-effective approach has allowed Sherif to stay on budget without sacrificing the quality of service.
Results: A Reliable Bookkeeping Service for Raleigh Raw
Since partnering with Ledge Accounting, Raleigh Raw has experienced notable improvements in bookkeeping clarity and operational efficiency. Here are some of the key results:
- Proactive Management of Monthly Financials: Ledge Accounting now handles Raleigh Raw’s payroll taxes, year-end taxes, and other filings, eliminating missed deadlines and costly surprises.
- Consistent and Responsive Communication: Sherif appreciates the open line of communication, noting that he can get quick answers to his questions. This helps him feel in control of Raleigh Raw’s monthly financials.
- Restaurant-Specific Expertise: With Ledge’s familiarity with the restaurant industry, Raleigh Raw has been able to take advantage of tax benefits and write-offs specific to their business, helping create a more efficient operation.
- A Trusted Bookkeeping Service: "Ledge has been a godsend," Sherif says. He now has a reliable partner who understands his business and supports its unique needs.
Why Raleigh Raw Recommends Ledge Accounting
Sherif’s experience underscores the value of working with an accounting team that understands the specific challenges of the restaurant industry. "Ledge Accounting isn’t just trying to sell every service. They focus on what they’re truly great at," he explains. By staying committed to restaurant bookkeeping, Ledge has been able to provide Raleigh Raw with specialized knowledge and responsive support that generalist accountants couldn’t offer.
Ready to Simplify Your Monthly Financials and Bookkeeping?
If you’re a business owner in the restaurant or hospitality industry facing similar challenges, Ledge Accounting can help. Our team provides industry-specific expertise, proactive QuickBooks management, and reliable support for your bookkeeping needs.
Book a free consultation with Ledge Accounting today to see how we can bring clarity and peace of mind to your monthly financials.
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