Arbor Group x Monily: Numbers Simplified with Experts

Arbor Group, based in Chicago, provides consulting and monthly group coaching for SEO professionals and business owners. The company specializes in local lead generation, including driving new prospect phone calls through Google Business Profiles. Arbor Group also runs a successful YouTube channel featuring coaching content, sponsorships, and educational videos, and offers expert copywriting services for marketing and advertising campaigns.

Arbor Group generates revenue through a diverse range of services, including SEO consulting, group coaching programs, and lead generation solutions such as Google Maps Elite. Additional income streams come from their YouTube channel through monetized coaching content, sponsored videos, and ad revenue. The company also offers a Google Maps Elite Program for advanced local listing support, alongside advertising partnerships, sponsorships, and professional copywriting services for marketing and advertising.

When Arbor Group first approached us, they were struggling with a highly complicated financial structure that included nearly 900 Chart of Accounts. This overwhelming number led to confusion within their accounting system.

Here’s what Arbor Group needed Monily’s support with:

• Complex and lengthy COA

  The large number of accounts caused inefficiencies & confusion. Financial statements were complex because of the large number of charts of accounts.

• Better Insights

  The client needed guidance to better understand key financial statements, including cash flow statements.

• Excessive Bifurcation Account Categorizations

  Due to the absence of a structured class-based classification, the previous accounting team had created a detailed and extensive Chart of Accounts, which added complexity to the financial system.

Our priority was to restructure and streamline the COA, drastically reducing its length and complexity. This reclassification transformed the P&L statements, making them much cleaner and easier to understand. This foundational change enabled Arbor to view their financials with clarity and simplified form. We also worked closely with the client to enhance their understanding of accounting concepts, especially the purpose and benefits of cash flow statements, forecasting and Balance Sheet. This was done in a supportive & collaborative manner to make better understanding about their business finances.

To ensure ongoing financial control, we implemented weekly financial reporting & forecasting of Profit and Loss. Providing better insights into their operations. Our team also reviewed and summarized the categorization of accounts and improved the overall presentation of financial data.

• Reclassification of Chart of Accounts

  Since they have multiple revenue channels, therefore, reclassified the Chart of Accounts. The accounts were simplified, concise and further categorized into a class-wise structure for easier management and reporting.

• Enhancing Understanding of Cash Flow Principles

  We supported the client in enhancing their understanding of key accounting concepts, with particular emphasis on the significance of cash flow statements. Our approach was collaborative, guiding them through essential financial terms and principles in a clear manner.

• Recording Income through Automation Tool

  The client had multiple income sources and different portals, and each transaction was recorded daily. To save time and reduce manual work, we automated the process using an automated accounting solution, which allows bulk uploads in a set format directly into QuickBooks Online.

• Weekly Financial Reporting

  Reviewed their weekly financial reporting and took an active role in managing this process to ensure better insights.

• Forecasting System Implementation

  We have initiated the setting up of a forecast system to give the client better visibility in their future financial position.

“Thanks to Monily's expertise and hard work, we've been able to understand the business's finances at a glance and answer forecasting questions easily for the first time in years. Our reports are clear, easy to read, and actually give us insight into what's happening in the business.”

• Seth Kimball

Today, Arbor Group enjoys a structured and streamlined Chart of Accounts along with clear, consolidated Profit & Loss statements. Their financial reporting is tidy, understandable and actionable, enabling better business insights. The client can now easily read and understand their financial statements, which are presented in a clean and structured format. If you too wish to bring clarity and simplicity to your finances, partner with us.