Overview
Foundations Accounting is a full service accounting firm providing bookkeeping, accounts payable and receivable management, and advisory services to growing businesses. The firm partners closely with clients to streamline financial operations, improve cash flow, and deliver accurate, actionable reporting.
Industry: Accounting Services
Company Size: 2-10 employees
Challenge
Improving Cash Flow and Reducing Administrative Burden
Foundations Accounting spent substantial time managing collections, verifying deposits, and navigating QuickBooks Online’s limited automation capabilities. Manual processes created unnecessary friction for both the firm and its clients.
Manual Collections and Payment Verification
Collections were one of the company’s biggest operational headaches. The team had to manually confirm deposited sales receipts and reconcile transactions in QuickBooks Online, adding extra administrative work and increasing the risk of missed payments. Cash flow delays were common, often because clients forgot to pay or overlooked invoices.
High Credit Card Processing Costs
Clients were paying significant transaction fees through providers like Stripe and QuickBooks Payments. Per-transaction pricing made it difficult to accurately forecast costs. Over time, these fees added up quickly, costing some clients thousands of dollars per month.
Time Intensive Month End Close
The firm’s month end close process required manual invoice creation, double checking deposits, and additional administrative oversight. This consumed valuable team time that could have been spent on higher value advisory services. The administrative workload limited scalability and operational efficiency.
Solution
Automating Payments and Streamlining Cash Flow
Alternative Payments became an integral part of Foundations Accounting’s workflow. By integrating directly with QuickBooks Online as the source of truth, the platform eliminated manual follow up steps and reduced time spent verifying deposits.
Automated ACH and Recurring Payments
Foundations Accounting prioritizes enrolling clients in automatic ACH payments. With autopay enabled, invoices are collected automatically, improving predictability and eliminating the need to chase payments. Clients receive customized payment notifications, and the firm can configure service disruption warnings to encourage timely payment. On the first of each month, payments are processed without manual intervention, significantly improving cash flow consistency.
Flat Fee Pricing and Cost Savings
The flat fee ACH model created immediate savings for clients. Compared to per-transaction processors, the difference amounted to thousands of dollars per month for some businesses. The predictable cost structure allows clients to forecast more accurately and reinvest savings into growth. Additionally, credit card fees can be passed through to end customers, further reducing expenses.
Centralized Client Management and Collections Support
With all clients accessible through a single console, Stefani can quickly switch between accounts and manage payment activity efficiently. For more difficult accounts, the built in collections agency option removes the burden of researching and managing third party agencies. This additional layer of support simplifies even the most challenging receivables situations.
“If I can come back to a client and say I can save you three thousand dollars a month, I have yet to hear no.”
Results
Stronger Cash Flow, Lower Costs, and Greater Client Retention
Since implementing Alternative Payments, Foundations Accounting has significantly improved collections speed, reduced administrative workload, and delivered measurable cost savings to clients. Automation has transformed both internal efficiency and client experience.
- Thousands of dollars saved per month through flat fee ACH processing
- Reduced time spent on collections and deposit verification
- Improved client retention and “stickiness” through integrated payment workflows
- Reduced admin workload, allowing the team to focus on advisory services
“It is absolutely a must. If you do not have Alternative Payments, get it. It is one thousand percent worth it.”
