You already know we’re big on keeping things accurate and running smoothly for your business; monitoring transactions, catching anything unusual, and making sure you’re in the loop. But we’re always looking for ways to level up how we support our clients. We’ve got some exciting updates in the works that you’ll definitely want to see!
What’s in it for you?
Early detection, immediate action: With our team keeping a watchful eye, you won’t have to worry about vendor overcharges or unexpected expenses going unnoticed. We diligently and proactively track your transactions, identify new or unusually high expenses, and reach out for clarification before they enter the accounting system; ensuring your records stay accurate and reliable.
Open, efficient communication at every step: Along with extending our services to include detection of unusual transactions, we have strengthened our communication processes to be more consistent and detailed to keep you better informed and in the loop on your financial activity. If we find unusual transactions and/or need clarification on transactions that we cannot identify, we’ll reach out to you with a detailed email, asking for clarification during the closing process. This process keeps things moving smoothly without interrupting your workflow.
Stay compliant, stay confident: We’re taking payroll tax liability payment monitoring up a notch to ensure you’re always on top of your obligations. We updated our payroll recording process to include monitoring of payroll tax liabilities that are paid by your processor on your behalf. We will notify you every quarter that we have completed the reconciliation and we will alert you right away if open tax amounts are not confirmed as paid, so you can work with your payroll processor to resolve it. It’s an added level of care that only Peach BPO provides.
All the value, none of the extra cost: The peace of mind you get from knowing your bookkeeping is in expert hands comes at no additional cost. You’re already receiving world-class support, and we are always working to enhance that, all without charging you more for it.
The real value of having the Peach BPO bookkeeping team looking out for you is about catching what others might miss. Here’s a story of how our vigilance saved a client from paying nearly 1,000% more than they should have due to an incorrect vendor bill! This is just one example of how expert human oversight keeps your business financially secure.
Saving Our Client Thousands: The Vendor Bill Mistake They Didn’t See Coming
While preparing the financial reports for one of our clients, our team uncovered a critical discrepancy that could have easily gone unnoticed by automated systems or surface-level data entry. As we reviewed the client’s cable network subscription expenses, we noticed something unusual—a specific payment was ten times higher than the client’s typical monthly charges to this vendor.
This wasn’t a small difference. Such a significant jump in costs immediately raised a red flag for us, so we took the time to dig deeper. We confirmed that this increase was highly irregular by cross-referencing the client’s previous payments to the same vendor. What we found was that the payment had indeed been made, but it was a mistake; an overpayment that needed to be reimbursed to the client.
We immediately brought this matter to the client’s attention. They were unaware of the overpayment, and without our intervention, they could have been left with less cash flow than they needed to operate.
They were deeply appreciative of our proactive approach. Not only did we prevent what could have been a costly financial mistake, but we also reaffirmed their trust in the value of Peach BPO’s services. This required a team of experienced bookkeepers with an eye for detail and a deep understanding of the client’s financial patterns.
For the client, this was a powerful reminder of why having an expert team managing their books was essential. They aren’t just paying for bookkeeping services; they are investing in accuracy, reliability, and peace of mind. It’s a perfect example of the Peach BPO philosophy: Software and a Service.
Bringing You Closer to Your Business
Over the next few periods, we’re introducing new enhancements that will make our processes even more efficient. We’re building on what already works; making it even easier for you to stay ahead of key details, without extra cost on your end.
A Sharper Focus on Unusual/Uncategorized Transactions
With the processes we’ve developed, backed by smart algorithms, we’re able to spot transactions that seem out of place. Our dedicated team then steps in to verify these transactions and reach out to you for confirmation. This approach ensures that any unusual or uncategorized transactions are flagged promptly, preventing incorrect charges from vendors and providing you with peace of mind.
A More Methodical Client Confirmation Process
We’ve created a smoother and more consistent communication pipeline for when we need your help to clarify certain transactions or to bring to your attention activity we think you should be aware of.
An Extra Safeguard for Your Payroll Tax Payments
We’re gearing up to launch the Payroll Tax Liability Monitoring Process, designed to track state and federal tax payments for clients using third-party payroll services. This process will give us better visibility into any outstanding liabilities or delays in payments.
We receive confirmation reports that show what has been filed and paid, and if anything is missing, we’ll flag it and notify you right away. Our goal is to keep you informed and provide another layer of protection for your business.
Our team is working hard to bring you these updates, focused on making your Peach BPO experience smoother and more efficient. With faster identification of uncategorized or unusual transactions, a more streamlined transaction clarification process, and a more reliable payroll tax payment tracking process, we’re building a system that minimizes risk and maximizes ease for your business.
How will this roll out?
We’re currently testing our unusual and uncategorized transaction detection process and plan for a full launch between March and April.
Be on the lookout for communications about flagged transactions needing your review.
If you have any questions along the way, we’ll be here to guide you.
Thank you for being a part of the Peach BPO journey!
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