Ledger Financials: Providing An Integrated Approach To Accounting & Bookkeeping

Anup Thakkar,FounderToday, advanced technology has brought accounting software such as QuickBooks. These new advancements are much more intuitive, helping accountants do their job quicker, more accurately, and with more ease. This evolution of technology and the Internet has paved the way for creating a whole new industry, where different firms provide their clients with cloud-based accounting and bookkeeping services. Today's accounting professionals who understand the importance of the Internet will use the Internet for e-business. They use the Internet to execute major business processes in the enterprise.

Anup Thakkar is the owner of both U.S. ­ based Ledger Financials, Inc. providing an integrated approach to accounting and bookkeeping Services. Ledger Financials is a U.S. - based bookkeeping and accounting services firm located in Greater Los Angeles. Its founder and principal, Anup Thakker, then founded a second company in Mumbai, India, Alphanumeric Data Management, Inc., to outsource its services to for Ledger's clients." I launched Ledger Financials in 2014 while living in Los Angeles," states Anup. After working for 30 years in corporate finance, including as the controller of a subsidiary of a public corporation, my goal was to provide efficient, low-cost accounting and bookkeeping services for small to mid-size businesses in the U.S."

However, after signing up his first client, who was four years behind in his accounting, Anup realized he could not grow his company if he was doing all the work. At the rate he was signing clients, he was having to work six days a week. "I then realized it would not be able to expand unless I hired others to help me with the workload." In April 2014, Anup flew to Mumbai, where his family is from, and began researching how to start a second company to respond to the demand of his U.S. clients. He spent the next four months doing the footwork which included leasing office space; hiring and training bookkeepers, certified accountants and other staff; and finally, setting up his legal entity, which he named Alphanumeric Data Management. "My daughter actually suggested the name for the business, pointing out to me that I enjoyed playing with numbers," says Anup.

Unique Accounting And Bookkeeping Services
"What makes me unique is that I am a U.S. citizen with roots in Mumbai and with my experience, I have been able to create two, separate entities that work together to provide an integrated approach to accounting and bookkeeping services for small to mid-size companies", says Anup. Ledger is located in the busy, metropolitan area of Los Angeles where Anup has built many connections in the business arena. As a result, he is able to channel a wealth of business clients to Alpha to support the economy in India.

Anup says that in Ledger's communications with clients they are completely transparent about the process they use in referring work to their sister company, Alpha, in India. "We encourage our clients to meet our team members on a video call to help them feel more confident about the services we provide as they get to know their project manager, dedicated accountant and bookkeeper, who are there to fulfill the requirements of their business. They are then treated like they are part of our family as we work hard to fulfill each clients' unique business needs", he adds.

High Quality Services At A Competitive Rate
At Ledger, we stress that we provide complete quality control over our accounting and bookkeeping services performed by Alpha, unlike other companies that outsource to a third-party provider. As the owner
of both companies, I am directly involved in the project management for my clients. "The formula behind the success of Ledger and Alpha's services is simple but well-developed. We combine a team of experts, systematized processes and procedures, and the very latest in accounting technology to ensure our clients receive the very best services to support their unique business needs", says Anup.

Pain Points Resolved
Ledger is the starting point for company owners who may have previously worked with accounting firms that either did not provide accurate results for them, did not perform their work on time, or did not accurately report their expenses to the IRS or state authorities. This often resulted in unnecessary penalties for clients who could not afford to keep good bookkeeping and accounting staff, inhouse, due to the high operating costs. With Ledger's help, and the work provided by Alpha's qualified staff, those same companies now receive high-level services that they previously could not afford.

Our Five-Step, Five-Star Process
Ledger Financials and Alphanumeric Data Management employ a five-step, five-star process with each client they onboard. Anup describes it as follows:
1. We interview the client and determine their requirements while also learning what issues they have had with previous providers.

2. We customize a game-plan for them on how to attain their objectives while also improving the processes they need, well beyond what their previous provider was able to accomplish.

3. Once they sign our service contract, we set up a video call with our team in Mumbai, who are already acquainted with the client's needs, so we can ensure them on how we will meet their expectations.

4. During this video call we provide a thorough overview of the project, from the starting to the ending point, with specific timeframes that we are committed to meeting.

5. After fulfilling these objectives, we deliver the documents to the client and I personally walk the client through each document to ensure they understand everything and that it is all accurate and acceptable to them.

Extensive Experience With Financial And Accounting Software
Ledger also assists clients in selecting the right accounting and bookkeeping software for their needs. Both Ledger and Alpha have extensive experience with a wide range of integrated accounting applications to ensure clients have a smooth virtual accounting experience. "We are then able to unravel the complexities of budgeting, inventory, payroll, taxes, expenditures and billing into accurate and comprehensive financial statements, providing optimum results", says Anup.

At ledger, we stress that we provide complete quality control over our accounting and bookkeeping services performed by alpha, unlike other companies that outsource to a third-party provider

Roi In Formula
Anup says, "We invest from the start in a complete study of each client's business before we onboard them so we know, from Day One, we can achieve their requirements and provide great customer satisfaction. By offering great follow-through and care in meeting our clients' goals and expectations, we are able to retain our clients on a multi-year, long-term basis."

A Highly- Satisfied Team Experience
They say every great business starts with happy employees and this is true at Alpha. Candidates for positions on staff come from a wide variety of industries and are all highly - qualified. In the interview process, each must complete a thorough competency test and once they are hired, they are provided an intensive training on the company's culture.

To keep the team engaged, at quarterly intervals, each employee is asked to provide suggestions on ways to improve the company's processes. By involving them in company-wide decisions, the staff know that their input is valued and this leads to a high level of job satisfaction and a high retention rate. This, in turn, provides a greater value for clients who get to know and work with the same team members, year after year.

As we all know, 2020 was a year of challenges and adaptations, however, at Ledger and Alpha, business was not only sustained during the pandemic but it actually achieved new heights. Anup explains, "While our main goals was working on Plan A, we felt it was important to have a Plan B that, when needed, could be executed in a timely manner. Two weeks before the COVID-19 shutdown, we made a decision to set up remote operations in Mumbai so our staff could work from home. We went through the check list of items need to move forward with this plan and, as a result, we were prepared when we needed to pivot.

"We may be one of the few companies that were able to fully work without losing anytime in the transition," says Anup. "Due to the execution of Plan B in the pandemic year, our revenues grew 60% over 2019's, and as of February 2021, we were up 50% compared to the same time in 2020. Our mission statement says it all: `We turn challenges into progress.", he adds. "The past year has been both exciting and challenging but we have demonstrated that with great insight, planning, and the cooperation of our well-trained staff working from home, we have not missed a beat", concludes Anup.