Case Studies

Identifying a Bank Error Saved $517

Client Challenge:A deposit for $517 was missing for one of the client’s 60 Subway stores. The store manager had made the bank deposit and received confirmation of the deposit.

Our Solution: Indevia’s Weekly Deposit Report correctly identified that the deposit was missing. With this confirmation from Indevia manager Vishal Patil, the client’s store manager went to the bank and proved that the deposit was never credited to the account. The bank confirmed that they had made an error; they credited the account for $517 and even sent our client a letter of apology!

Results:
• Our client received the $517 he would have lost if the error had been missed.

Early Theft Investigation Ultimately Prevented Future Theft

Client Challenge: A deposit was missing without explanation.

Our Solution: Accounts Manager Madhuri Parit and her team alerted the store owner about the missing deposit. After the owner investigated, she found that the shift manager had stolen the deposit and he was terminated. A few months later, the shift manager was arrested for embezzling over $50,000 from a volunteer fire department.

Results:
• The theft was discovered and further theft was prevented.

A Franchisee Used Indevia To Catch Errors In Excessive Fees and Received A Substantial Refund

Client Challenge: Excessive fee collections had cost a franchisee $1,200 over the course of several months.

Our Solution: Senior Manager Dinesh Gogavale caught the accounting error and our client received a refund of $1,200 from a merchant. This client was grateful for the refund and the hard work.

Results:
• $1,200 Refunded to the franchisee
• Reduction in future errors by using Indevia’s accounting systems

A Missing Third Party Credit Found By Indevia

Client Challenge: An Indevia client’s credit card payment was credited to a third party and he never received the credit in his bank account.

Our Solution: Our team pointed this out in his credit card verification report and followed up with the merchant. The client received a credit of approximately $7,000.

Results:
• The client received the $7,000 that was due.
• Continued use of Indevia provided a safe guard against unexpected errors

An Indevia Client Awarded A Multi-Thousand Dollar Refund After Indevia Amends Their Sales Taxes

Client Challenge: An Indevia client was paying his sales tax with inaccurate sales data. For eight months, he overpaid the sales tax by a total of $8,734. After catching the error in sales data, Indevia requested source documents against the submitted sales tax returns for the period, but the client could not provide them. The next month, the team did a sales tax reconciliation and showed him that he had over paid sales tax amount to both the State and the City.

Our Solution: After looking at the sales tax reconciliation, he asked us to file his amended sales tax returns and decided to upgrade his accounting service to a more comprehensive package.

Indevia filed his amended sales tax returns for the State (online) and also helped him to file amended City Taxes returns (offline). After filing his amended sales tax returns, he received refunds from both the State and the City. The refund was $8,000 in cash and credit.

Results:
• Better knowledge of tax options
• Amended city and state sales tax returns
• Multi-thousand dollar refund awarded