Accounts Payable Services & AP Automation Providers in Eden Prairie, MN

Boulay is a Minnesota CPA and financial advisory firm whose roots go back to 1934. Its client base spans privately held companies, publicly traded businesses, public organizations and individuals. For buyers who want to hand off accounts payable, the most relevant part of the firm is its outsourced accounting group, branded Accounting Clarity. That team takes on day-to-day finance work for growing companies so owners don't have to hire and train extra staff in-house.

Accounts payable and outsourced accounting

Under Boulay's recurring accounting offering, AP management is listed as a core function next to receivables, payroll and transactional bookkeeping. At the bookkeeper level, the firm describes these AP tasks:

• Recording vendor invoices accurately and keeping detailed invoice records
• Processing vendor payments on a weekly cycle so they are made before due dates
• Collecting W-9s and filing 1099s for vendors and contractors
• Maintaining liability accounts such as credit cards, payroll liabilities and 401(k) balances
• Reconciling bank and credit card accounts each month and helping with month-end close

Boulay offers this work in three tiers. Clients can start with an outsourced bookkeeper and add an outsourced controller or a fractional CFO as their needs grow. Controller-level support covers budgeting, forecasting, management cost reporting, financial process management and leading monthly management meetings. CFO-level support covers capital structure, mergers and acquisitions, and risk and efficiency analysis.

How engagements work

Each client is assigned a dedicated Accounting Specialist. Boulay says this is meant to avoid the rotating junior staff that some outsourced providers use. Onboarding includes setting up system access, standardizing the chart of accounts where needed, documenting monthly workflows, and agreeing on close and reporting dates. Work can be done on-site or remotely.

The team works mainly in QuickBooks and can help companies move to QuickBooks Online. Boulay's bookkeepers can also coordinate with a client's existing CPA, and the firm notes that it regularly reviews its systems for security.

Industries and broader capabilities

Boulay works with a range of sectors, including:

• Architecture and engineering, construction and manufacturing
• Real estate, renewable energy, retail and wholesale
• Professional services, non-profits, software-as-a-service companies and search funds

Besides outsourced accounting, the firm provides audits, reviews and compilations, SOC reporting, lease accounting, risk advisory, business and individual tax, state and local tax, ESOP consulting, transaction advisory, business valuation, and wealth management through an affiliated registered investment advisor. This lets buyers have one firm handle their AP processing as well as their audit or tax work.

Background and credentials

Boulay has offices in Eden Prairie, downtown Minneapolis and Mankato. It has been registered with the PCAOB since the Sarbanes-Oxley era and reports clean results from its PCAOB inspections. It has taken part in the AICPA peer review program since 1979, and its SEC practice has worked on more than 50 public offerings. The firm is also a member of PrimeGlobal, an association of independent accounting firms.