Government Compliance Assistance and Localized Accounting Support

Client Profile:

Element 84 is a software development company headquartered in Alexandria, Virginia with locations in several cities across the United States. Specializing in earth sciences, this company prides itself on building software that benefits the world. Element 84 provides a wide array of services to its corporate and government clients, including software engineering, cloud system development, user interface design and user experience design.

The Challenge:

As a growing company, Element 84 has already expanded into 11 different states. Since Element 84 works with many government clients, the company must uphold the Defense Contract Audit Agency (DCAA) compliance rules for government projects in each of these 11 states. Element 84’s old accountant was not local to Alexandria and could not handle alone the assistance required in the national DCAA compliance process. When company president Tracey Pilone and finance director Emily Weyrich looked into switching accountants, they hoped to find someone local who could grow with the company. “We wanted a firm with more in-place support, technical support and other benefits that HBP provides,” Weyrich said.

The Solution:

Once Element 84 switched to Halt, Buzas & Powell in early 2015 and began working with outsourced accounting principal Rally Kamenova, the company was able to organize its financial reports and uphold its government compliance among all 11 states. “Rally does a great job of running our reports for us and gathering the data that we need,” Weyrich said. The HBP team has also helped Element 84 process its payroll, importing financial data and timesheets from various systems into one central location: QuickBooks. With HBP’s help, Element 84 has transitioned from a C-corp to an S-corp. “The transition has given us more financial flexibility,” Pilone said. “I don’t think we could have done it if we didn’t have someone we could trust the way we trust HBP.”

The Result:

As Element 84 expands throughout the U.S., HBP continues to service the company’s growing needs for accounting, tax and consulting services. With QuickBooks becoming obsolete, Rally has been helping E84 find a new central bookkeeping system, which they hope will help them remain organized in upcoming years. “As we expand, Rally has helped us grow in a smart way,” Weyrich said.

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