CLIENT PROFILE
Ace Hardware of Hilton Head, South Carolina is a convenience hardware store focused on providing unmatched customer service, implementing new products and brands and enhancing the community it’s based in.
THE SITUATION
Ace Hardware of Hilton Head was unhappy with its accounting firm. The business was regularly receiving its financials two months late, the statements were very basic with limited insight into the store’s performance compared to similar stores and there were troubling accuracy issues. Poor accounting records were causing problems, such as sending tax returns into extension every year. Communication with the accounting firm was also difficult, and what’s more, Ace Hardware of Hilton Head’s contact there had changed three times over the course of a year.
THE STRATEGY
When Ace Hardware’s corporate office selected Wipfli as its preferred CPA partner, Ace Hardware of Hilton Head was one of the first stores to reach out and make the switch.
After analyzing the store’s challenges, Wipfli’s first step was to develop an integrated, online accounting method using QuickBooks Online. This approach provided far more detail into the store’s financials (including offering comparisons to other stores), eliminated paper statements and allowed the store owner, Ron Burke, to access their financials at any time, with greater understanding.
The Wipfli team also got the store’s financials caught up and began delivering them on time with accurate numbers. Our dedicated contact made sure Ron could ask questions and get not only a quick response but also maintain an actual dialogue that provided further visibility into their financials and built a stronger relationship.
WHAT WERE THE RESULTS?
Now Ace Hardware of Hilton Head is getting accurate and timely financial statements. Ron has a meaningful conversation with Wipfli that goes over that month’s financial statement so that the numbers are more accessible and usable.
Correcting what was wrong will have lasting effects, too. With accurate, timely numbers, Ron can now do proper tax planning and potentially save money instead of losing it in extensions, inaccuracies and poor advice. The situation has been completely turned around.
For Ron, Wipfli has taken the worry out of accounting and tax. With the results he’s seen, he trusts we know the numbers and how to leverage them to grow his store and help ensure a bright future.
