May 11, 2021
Legal Monkeys is a technology services firm composed of several entities that together have been growing at an annual rate of over 15 percent per year. With a lean finance team, accounting functionality limitations associated with QuickBooks, and several inefficient workarounds, the company’s back office had struggled to keep pace with its growth. In particular, QuickBooks’ lack of integration with other systems required significant amounts of duplicate data entry in order to keep up with hundreds of orders flowing in every day. The team also wasted days every month doing tedious data manipulations in Excel in order to calculate budget-to-actuals comparisons. And finally, QuickBooks was unable to maintain annual supplier payment totals, or to separate out reimbursable charges from service fees, which hindered annual 1099 form compliance.