Reducing the tax burden through improved bookkeeping

How Numarics improved accounts payable and receivable

What happened?

A client chose Numarics after having difficulties with their previous accounting firm. The previous accountants had mismanaged creditor and debtor accounts, resulting in errors that increased the customer's debt burden and resulted in unnecessary tax payments.

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Problem statement

The customer's creditor accounts were not correctly reconciled, which gave a false picture of his liabilities. This not only had an impact on financial reports, but also led to higher tax liabilities.

Our Approach

Numarics reviewed the client's financial records, identified and corrected discrepancies. We focused on uploading receipts in real time via the Numarics app and maintained continuous communication with the customer.

Results

By closing the gaps in creditor and debtor accounts, we were able to significantly reduce the client's perceived debt burden and tax liabilities. The client now benefits from more accurate financial reports and improved financial health.

Conclusion

This case study shows how important accurate accounting is. Numarics' proactive approach was able to correct previous mistakes and ensure continued financial accuracy.

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