Cross-Disciplinary Consulting Team Uncovers and Resolves Deep-Rooted Inventory & Accounting Challenges
Overview
Structured Building Solutions (SBS), a premier construction material sales company, specializes in building materials including insulation, FRP, and adhesives. Struggling to maintain accurate inventory tracking and financial reporting, SBS partnered with Fourlane to streamline their operations, resolve persistent discrepancies, and build a scalable financial infrastructure.
The Challenge
SBS experienced persistent issues with inventory tracking, accounting discrepancies, and QuickBooks system errors. The root problem was identified as QuickBooks’ Enhanced Inventory Receiving (EIR) feature, which caused significant inconsistencies between inventory reports and the balance sheet, including:
- Incorrectly coded inventory and non-stock items.
- Open sales orders with zero balances.
- Discrepancies between detailed inventory reports and the general ledger.
- Frequent QuickBooks crashes tied to virtual desktop environments.
- Tax reporting mismatches and improperly configured customer/vendor settings.
- Incomplete or outdated system documentation and training processes.
Discovery and Diagnosis
A series of cross-functional meetings were held with accounting and technical experts that identified several notable findings:
- EIR was inflating or undervaluing inventory values.
- Non-stock and stock items were misconfigured, impacting inventory valuation and reporting.
- Historical inventory asset discrepancies dating back to 2021 (~$600K difference).
- Virtual environments were leading to software instability.
The Solution
Partnering with Fourlane, SBS completed a series of phases to meet their goals and objectives:
Benefits Achieved
- Inventory valuation discrepancies are being addressed via structured journal entries.
- Monthly financial close and year-end reporting are now accurate and timely.
- Restored financial integrity.
- Enhanced system performance.
- SBS is now positioned for scalable growth.
“Working with Fourlane gave us clarity we didn’t know we were missing. Their team untangled years of inventory issues and helped us regain control of our financials.” – Katherine Hale, President | Structured Building Solution
Fourlane Is Here To Help
If you’re looking for powerful solutions to your business’ needs, reach out to us by email, or call us at 1-800-931-2120. We’d love to help you navigate any challenges and grow your business.
About SBS
SBS specializes in building materials to include insulation, FRP, and adhesives.
Industry
Construction
Location
Carrollton, TX
