Julissa Lewis, CPA and Financial ConsultantJJL Independent Accounting first examines how a business functions before recommending a service.
The Panama-based firm begins with an exploratory conversation and, where necessary, a physical visit to the client's premises. It studies an organization’s structure, workflows and financial processes to uncover issues that may not be apparent from the initial request. This allows JJL to distinguish between the service a client believes it needs and the solution that would genuinely benefit the business.
“The right accounting solution begins with understanding how a business actually operates,” says Julissa Lewis, CPA and financial consultant.
One organization, for instance, approached JJL requesting random audits twice every month. As the team examined the business, it discovered that the organization relied heavily on manual processes and lacked a system for managing its operations. The recurring audits pointed to deeper issues, prompting the team to gather more information and determine the service the client deserved.
Once clients’ needs are established, its two-founder structure allows it to address those needs through complementary areas of expertise. Julissa leads accounting and financial analysis, with a focus on internal policies, financial reporting and controls, while her sister Jissbeth Lewis, co-founder, brings expertise in payroll and human resources management. The combined expertise addresses clients’ financial and workforce needs through a single firm and coordinated relationship.
Making Financial Management More Accessible
Traditional accounting can leave business owners dependent on their accountants for monthly or quarterly financial information. JJL addresses this limitation by bringing accounting into the cloud.
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The right accounting solution begins with understanding how a business actually operates.
An independent street vendor came to JJL while seeking a mortgage and needed to organize his financial information. The client had many receipts and documentation, but his accounting was highly manual. JJL had to manually tabulate bank reconciliations and work through receipts he had kept at home.
The client was moved to a cloud-based workflow, automating bank reconciliations, digitizing receipts and giving him secure access to his financial records. The team also guided him through the transition, helping him become comfortable managing his information in the new environment. The organized financial information helped the client obtain his mortgage. The transition also reduced the time spent on manual tabulation and eased the work involved in managing his accounting and invoicing.
Combining Expertise with Practical Guidance
As business needs can vary by company structure and jurisdiction, JJL tailors its compliance and reporting to support each business.
Local businesses receive support with payroll, invoicing and practical compliance requirements. Foreign-source and offshore businesses receive greater attention to documentation, consistency in financial statement presentation and support for cross-border operations. Multinational companies operating under Panama's SEM regime receive support that addresses local accounting requirements alongside the deeper financial reports they may need.
Client guidance remains central. The team takes time to explain financial information, guide clients through the process and help them understand where their businesses stand.
JJL is also developing a payroll platform with CRM capabilities to bring payroll, client communication and service requests into one place. The platform is being designed to connect with the firm's existing technology ecosystem, including QuickBooks, DocuSign and its local invoicing tool. Future plans include making the platform available to other companies and accounting professionals through an outsourcing model, extending its potential use beyond JJL's own clients.
