Eschels Financial Group, Inc.
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The Business
Eschels Financial Group has been a family business since 1955. As an independent firm, they have the flexibility to select the best products and services for their clients. With over 30 representatives, Eschels specializes in retirement and estate planning services primarily for the education profession. Located in Birmingham, Michigan, the Eschels family is active in regional and national financial services organizations.
The Challenge
Eschels was not receiving solid information from their part time bookkeeper. With 30 agents to track, Eschels needed a way to streamline the paying of commissions, in addition to an overall streamlining of all financial processes. Their Operations Manager wanted to be sure all work was being done accurately, timely, and in accordance to Generally Accepted Accounting Procedures (GAAP). More importantly, Eschels wanted someone else to take this over so that the Operations Manager would have time to focus on other aspects of the business.
Key Solutions Provided by TADAccounting
- Bookkeeper and CPA dedicated to give the service Eschels required
- Developed efficient and accurate systems for processing commissions
- Set up electronic payment of payroll taxes
- Streamlined existing systems
- Prepared financial reports and graphs, providing analysis of their business
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The Solution
TADAccounting assigned a CPA Manager and a bookkeeper dedicated to working closely with Eschels. The bookkeeper recorded transactions accurately and timely. We learned the different systems that Eschels vendors had for paying commissions, and developed efficient and accurate systems for processing payments to Eschels representatives. We set up electronic payment of payroll taxes and worked to make their existing systems more streamlined and efficient. Their CPA Manager prepared financial reports and graphs providing analysis of their business.
The Result
A productive working relationship is at the heart of TADAccounting’s work with Eschels. The CPA Manager provides a report of Eschels performance against industry standards, and a graph showing Eschels current performance against their past performance for the same period. The bookkeeper processes transactions accurately and timely. All of this allows Eschels to focus on their business plan and to make business decisions based on solid financial information.
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