Accounts Payable Services & AP Automation Providers in Wilmington, DE

Breakwater is an accounting and advisory firm in Wilmington, Delaware. It takes on the back-office finance work of small and mid-sized companies and nonprofit organizations. From its office on Concord Pike, the firm serves clients locally and across the country.

It relies on cloud-based systems, so bookkeeping, payables and reporting can be handled remotely while clients still have a real team to call. Buyers evaluating outsourced accounts payable support should note that Breakwater treats AP as one part of a broader managed bookkeeping and controller relationship. It does not sell AP as a standalone software product.

Accounts payable and bookkeeping

As part of its bookkeeping work, the firm handles vendor bills alongside customer invoicing. The aim is to pay obligations on schedule and make bill approval simple for the client. During an initial assessment, the team chooses the accounting software and approval procedures that suit the organization's structure. It then builds the payables workflow around that choice. Related day-to-day services include:

• Processing of payables and receivables
• Payroll and payroll tax processing
• Recording and classifying transactions
• Reconciling bank accounts each month
• Expense management through partnerships with financial technology providers

Technology, controller and reporting support

Breakwater describes itself as technology-forward but cautions against adding tools a client does not need. Its technology work includes:

• Reviewing a company's readiness
• Selecting software
• Startup planning
• Staff training
• Support for QuickBooks Online setups

Every team member holds QuickBooks Online ProAdvisor certification. Above the transactional layer, the controller offering adds cash flow management, custom reports and nonprofit board reporting. It also covers coordination with outside tax preparers and auditors. Reporting work includes review and interpretation of profit and loss statements and balance sheets, a forward look at cash, and budgeting and forecasting.

Who it serves

The firm works with small and mid-sized for-profit businesses, nonprofits, family offices and private clients. It also serves multi-location or national organizations. Nonprofit finance is a visible specialty, with board reporting and financial controls designed for more complex structures.

Client testimonials on the site come from a school and from a Wilmington restaurant that relied on the firm through a rebrand. Another comes from the CEO of Delaware Prosperity Partnership, who credited the team with anticipating issues he had not considered.

Background and approach

Lee Podolsky founded Breakwater Accounting + Advisory in 2014. She began her career in the corporate world at DuPont and later ran her own practice. That practice streamlined startup back offices and kept books for small firms and independent consultants. She also volunteered in nonprofit finance.

The company name refers to a structure that shields a harbor from waves, reflecting the firm's goal of protecting growing organizations from costly errors and paperwork overload. Its team is organized into three groups. Plan Formulators meet with prospects to understand problems and goals. Plan Implementers are hand-selected to match each client's needs and personality.

Plan Supporters work behind the scenes. Engagements are personalized, and the client sets the pace of change while the team works as an embedded extension of in-house staff.

Doherty & Associates is an accounting and financial services firm based in Wilmington, Delaware, that has supported companies across the Delaware Valley since 2001. Its clients range from new ventures to established organizations with annual revenue above $45 million, and the firm also works with clients elsewhere in the United States and abroad.

Buyers comparing outsourced accounts payable options should see it as a full-service bookkeeping and controller provider. It handles payables within a broader back-office engagement and does not sell standalone AP software.

Accounts payable capabilities

The firm's bookkeeping offering includes a dedicated payables function:

• Processing of incoming vendor invoices every business day
• Supplier payments coded with cost accounting, so spending is assigned to the correct jobs or categories
• Electronic ACH disbursements to payees anywhere in the country
• Work-in-process reporting for project-driven companies

Its controller and CFO engagements add nationwide electronic payment processing, job costing, and analysis of jobs and contracts. These features can be useful for contractors, manufacturers and distributors that need to tie payables to specific projects.

Related financial operations

Payables work is paired with other back-office tasks. On the banking side, the firm reconciles accounts, handles ACH and EFT deposits, provides courier services, and produces daily balance updates and projected cash flow reports. On the receivables side, it handles specialty invoicing, ACH and wire receipts, collections and customer status reporting.

Payroll support covers direct deposit, electronic pay stubs, and quarterly and annual payroll tax filings, including W-2 and 1099 forms. Clients also receive monthly financial statements such as profit and loss reports and balance sheets. Tax planning and preparation, IRS and state agency representation, and business consulting are available as well.

How the firm works with clients

Doherty & Associates runs a paperless, digital office. It says this approach improves accuracy and protects client data. Services can be delivered in person or remotely, and clients can view their financial data at any hour. Each client has a personal bookkeeper, with a backup team member available, and Account Associates take questions during business hours.

The firm notes that outsourcing bookkeeping helps small and mid-sized companies separate financial duties when a lean staff would otherwise handle everything. That separation of duties is a relevant control for payables. As an alternative to hiring a salaried controller, the firm also absorbs the cost of training staff on current accounting software.

Industries served

• Construction
• Healthcare
• Manufacturers and distributors
• Not-for-profit organizations
• Professional services
• Real estate
• Restaurant and hospitality
• Retail
• State and local government

The firm is led by Owner and President Jim McMahon, and client reviews mention a recent change in leadership. Its staff includes CPAs and accountants. The controller team draws on former CEOs, CPAs, controllers and CFOs, some with experience working alongside local government agencies. Together the team reports more than seventy years of combined experience, and the firm also serves businesses in the nearby Philadelphia market.