Challenges
Accuracy of Financial Statements
Dealing with challenges regarding the accuracy of financial statements, non-compliance with GAAP practices, and the need to address incorrect journal entries.
Transitioning to Yardi Breeze and Implementing Yardi Software
Overcoming hurdles during the transition from RealPage to Yardi Breeze, including the need to train in-house staff on the new software and adapt to a different accounting system.
Improving Operational Efficiency and Focus
Struggling with time-consuming tasks, hindering the ability to focus on growing the business and moving operations forward.
WH Long overcame significant challenges in their financial operations, including inaccuracies in statements, accounting best practices, and HUD audits. With BAS’s assistance, they cleaned up data, audited security deposits, and eliminated incorrect journal entries. As a result, WH Long experienced improved efficiency, saving time and money, punctual payments, and streamlined deposit refunds. Their in-house staff gained more control over invoicing, and BAS’s prompt organizational support enhanced their day-to-day operations, allowing WH Long to focus on growing their business.
WH Long, a company dedicated to excellence, identified several areas for improvement in their financial operations before partnering with BAS. They recognized the need to address inaccuracies in financial statements, non-compliant accounting practices, and discrepancies in HUD audits. With their commitment to continuous improvement, WH Long took proactive steps by partnering with BAS to overcome these challenges. By leveraging BAS’s expertise, WH Long successfully cleaned up their data, audited security deposits, and eliminated incorrect journal entries, ensuring accuracy in their financial reporting. This demonstrated WH Long’s dedication to maintaining high standards and their willingness to take necessary measures to enhance their financial operations.
Process
BAS & WH Long implemented a comprehensive set of solutions to address the the challenges, resulting in improved efficiency, accuracy, and overall financial performance. Their solutions focused on data cleanup, security deposit audits, process streamlining, and enhanced control over day-to-day operations.
Data Cleanup and Audit
BAS conducted a thorough data cleanup and audit process, resulting in improved accuracy and reliability of financial data by tying security deposits to the cash account and eliminating incorrect journal entries.
Process Streamlining and Control
By implementing Yardi Breeze and leveraging BAS’s expertise, WH Long achieved significant process streamlining, empowering in-house staff to handle invoice inputting and providing better control over day-to-day operations, leading to increased efficiency.
Cost-Effective Resource Allocation
By enhancing efficiency and reducing time spent on manual tasks, BAS’s solutions allowed WH Long to allocate their resources more effectively, ultimately saving time and money for the company.
Results & Insights
WH Long drove significant improvements across key metrics, leading to enhanced operational efficiency, substantial time savings, and improved financial accuracy. By streamlining critical processes and optimizing workflows, WH Long achieved remarkable outcomes.
Future
WH Long has witnessed notable productivity increases in their teams’ processes and has significantly improved reporting efficiency, providing quick and comprehensive insights into their portfolio. By implementing a new in-house method of calculating distribution, WH Long has gained greater flexibility compared to their previous flat distribution structure. Additionally, their proactive approach in staying on top of HUD audits showcases their commitment to compliance. With these advancements, WH Long is well-positioned for future growth and success.
Benefits to Partnering with BAS
Partnering with BAS yields significant benefits, including enhanced operational efficiency, improved financial accuracy, and streamlined processes. BAS’s expertise and solutions provide tangible results, saving time and money, improving payment efficiency, and ensuring compliance with regulatory audits. WH Long has experienced increased productivity, gained better control over day-to-day operations, and enjoyed a strong working relationship with the dedicated BAS team.
