I have been a business owner for over 18 years and I have been working with Randi & Gayle from Thrive Business Services for some time now. They did the bookkeeping for 3 of my companies along with my personal books. Unfortunately working with Thrive has cost me a significant amount of money in penalties & interest, additional CPA fees not to mention my time dealing with the messes they caused.
Here is what happened with the first company they were doing the books for... One of their rolls as bookkeepers for this company was to reconcile our monthly billing. I found out by looking over their work that that had not been done and money was missed which led to a $1,000 loss of income that month. They assured me that they had fixed that breakdown in their processes... a few months later I doubled checked their work again to find out that they had not reconciled my billing again and they now missed over $3,000 in missed billing fees that my company lost out on again that month. (this was starting to get expensive)
On top of that, my monthly budget reports were being delivered to me late; at times almost a month late. As I started looking into their work product, I uncovered their reconciliations on some accounts were also several months behind.
Then I reached out to my CPA who interacts with Thrive, turns out he has had to ask them multiple time to get him items on time. My CPA and I mutually agreed that it was time to exit and find a more reliable and capable team of bookkeepers before more damage was done. In the end as I started to hold them accountable to our agreement, Randi & Gayle became increasingly less responsive.
Here is what happened with my second company they were doing the books for during this same time period... It was brought to our attention that Thrive had grossly neglected their responsibilities which cost us $30,000 is penalties and interest. Turns out they forgot to review with us moneys that were past due. Over 2 years went by and they never prompted us, reminded us or our CPA that money had been due, which caused a huge IRS issue. This whole time we could have paid this item that per our contract they were to manage for us but never did.
Thrive was paid a lot of money each month to be our financial controller and help us manage the financial integrity of the company. They grossly neglected their duties here and let us down tremendously. After I paid all the outstanding penalties and interest that was racked up from their gross oversite, they agreed to compensate me by doing $5,000 in free bookkeeping. This was their way of making things right.
Shortly after this our business relationship ended but they still owed me money that they had not worked off. To date I have sent 2 emails to the Gayle & Randi and no one has replied.
Between my different company Randi & Gayle from Thrive have cost me in total tens of thousands of dollars, and a tremendous amount of stress and time. This was a very expense lesson working with Thrive, I would recommend that business owners interview several other firms before hiring them. read more
