From Distress to Control: Financial Systems That Saved a Project

Industry: Real Estate Development
Project Type: Residential Condominiums
Duration: Ongoing
Location: Confidential

Project Overview

Our client had already broken ground on a condominium development when things started to unravel. Construction was delayed, there was no clear financial tracking in place, and investor confidence was waning due to the lack of reporting and transparency.

That’s when Finalysiz stepped in to regain control—not only of the finances but of the overall project direction.

Scope of Work

• Financial Pro Forma Creation & Budget Tracking
• Full Accounting System Takeover
• Historical Book Cleanup & Reconciliation
• Investor Reporting (Quarterly Reports)
• Draw Application & Vendor Payment Management
• Budget-to-Actual Cost Tracking
• Project Cost Oversight
• Payment Processing via Bill.com
• Accounting & Reconciliation via QuickBooks Online (QBO)

The Challenge

The project was already under construction, but there was no working budget, no financial visibility, and no formal accounting practices in place. Construction delays were compounding, and without organized financials or regular reporting, investor confidence was slipping.

The risks were clear:

• Inability to track project cost overruns
• Missed bank draw opportunities
• Disorganized vendor payments and billing
• Investor dissatisfaction due to lack of updates

Without immediate intervention, the development risked spiraling further into financial and operational distress.

Our Approach

Finalysiz began by rebuilding the foundation—financially. We created a new financial pro forma that allowed the project team to monitor budget-to-actual performance with real-time visibility.

Key steps included:

• Implementing a centralized budget tracking system
• Setting up Bill.com for structured vendor payments and workflow approvals
• Migrating and cleaning up books in QuickBooks Online (QBO)
• Applying for and tracking all bank draws, aligned with work progress and vendor invoicing
• Issuing quarterly investor reports, providing transparency and restoring trust

We also took over vendor payment processing, ensuring accurate and timely payments while tying each disbursement to project milestones. By aligning payments with the budget and schedule, we eliminated guesswork and restored cost control.

Results

• The project moved from financial chaos to a fully tracked and transparent development
• All accounting systems were rebuilt and reconciled, providing a clear view of past and current spending
• Investors received timely and professional reports, improving confidence and communication
• Cost overruns were brought under control through disciplined tracking and approval workflows
• The development is now on track—with real-time visibility into every dollar spent

By introducing structure, visibility, and control, Finalysiz helped stabilize a distressed project and put it back on the path to success.

Services Used

Project pro forma & budget planning | Real estate accounting | Vendor & draw payment management | Investor reporting | Budget tracking via Bill.com | Accounting system via QBO | Project cost management