Success Stories

Chippewa Veterinary Clinic: Financial Accounting Outsourcing

Wipfli tames the bookkeeping beast.

Chippewa Veterinary Clinic
Dr. Joel Mayberry, Partner
"Wipfli has really helped us get a handle on where our money is spent every month, and doing so has helped us reduce costs and increase profitability."
 

Chippewa Veterinary Clinic

As the area’s first veterinarian facility, Chippewa Veterinary Clinic in Chippewa Falls, Wisconsin, has been dedicated to the health and well-being of small, large, and equine animals since 1902. Five veterinarians and eight full-time staff provide compassionate care in a 6,000-square-feet, full-service facility that also includes boarding and grooming services.

Situation
When Chippewa Veterinary Clinic lost its in-house bookkeeper, Wipfli was asked to step in to provide interim services just until a replacement could be hired. Wipfli had long provided tax services for the clinic and had also helped the organization with its cafeteria and pension plans. For roughly five months, Wipfli delivered interim services yet gave the clinic the option to entirely outsource its financial accounting. Although the clinic was hesitant to hire again, it was equally hesitant to outsource, fearing both the absence of having financial management on site and the time commitment it thought would be necessary to coordinate the service. Ultimately, Chippewa Veterinary Clinic made the decision to outsource.    

Strategy
As Wipfli began transitioning the clinic’s financial accounting, it first cleaned up and organized the clinic’s filing systems and addressed processes and tasks that had been overlooked. The firm then took full charge of the clinic’s accounting needs, delivering timely and reliable “back office” services. Among the comprehensive bookkeeping and accounting services Wipfli provided were:

  • Payroll accounting, processing, and reporting.
  • Processing and payment of bills.
  • Preparing customer invoices.
  • Reconciling all bank and credit card accounts monthly.
  • Wipfli also created monthly financial statements and coached the clinic’s principals on how to better interpret the key numbers that were vital to its continued business success.

Benefits
Chippewa Veterinary Clinic has deepened its understanding of its business. Thanks to reliable reports and accurate accounting information, the clinic has a better handle on its business expenses and other numbers and is making better business decisions, improving its overall profitability.

Concerns over time commitments were quickly allayed. One clinic principal spends only an average of three hours a week on accounting tasks, while another spends a couple of hours every couple of weeks. In addition, the clinic pays less to Wipfli than it would to hire a full-time bookkeeper. In all, outsourcing lets the clinic maintain focus on its mission to provide professional and compassionate care for all animals.

Relationship Executive(s)

Todd Kostman, CPA, Partner