Recognized as one of the best cryptocurrency accountants, Marmar has been working with blockchain and cryptocurrencies long before these technologies became a norm in the world of business. Soon, he attained a strong grip on how to “properly and accurately” account for crypto transactions and was focused on helping crypto and blockchain companies with his crypto accounting services. In 2014, it was a natural progression for Marmar to put his collective experience to establish JFDI Accountants—a premier firm that offers its modern back-office solution globally. Following his penchant for technology innovation, Marmar founded JFDI to empower entrepreneurs in early and mid-stage technology startups with a high-end back-office solution that can save time, reduce stress, and maximize profits. JFDI’s core services include full cycle bookkeeping, payroll, and strategy.
Recognized as being one of the best accounting service providers for blockchain and cryptocurrency companies, JFDI, interestingly, is an acronym for “Just F*cking Do It” Accountants, capturing the essence of the company’s mission: “helping entrepreneurs realize their dreams.” JFDI has successfully guided hundreds of startups across various industries throughout their life cycle and has a deep understanding of the path to a successful exit.
JFDI’s Teamwork Makes The Dream Work
The company’s single most important hire was its first, Long Lee who started as a staff accountant in 2014 and is now the COO. Long is responsible for leading the team and managing the company’s ongoing operations. Marmar says, “Long is one of the best people I have ever met; he is so genuine, loyal, and hard-working. I have been amazed over his professional and personal growth.” Over the years Marmar's focus was to continue building his internal team with employees that had similar traits as Long to support its growth.
JFDI has grown primarily through referrals year over year since inception. Marmar attributes the growth to his amazing rockstar team and the company's values. JFDI truly “cares” about each client and always goes above & beyond in delivering true value. JFDI’s world-class back-office specializes in accounting, digital assets, and payroll,” says Marmar, founder and CEO, JFDI Accountants. From bookkeeping, AP & AR cycles, internal control procedures, tax optimization & strategy to cryptoanalysis & reporting, full-service payroll, JFDI proudly takes charge of its clients’ accounting and payroll tasks.
World Famous Crypto Tracker
While most companies lack the knowledge in accounting for cryptocurrency, Marmar has devised a crypto tracker automated tool that makes accounting for crypto transactions, cost basis tracking, and crypto financial reporting seamless.
Marmar takes pride in revealing that this same tool has been instrumental in saving millions of dollars for their clients. “Besides our crypto tax optimization strategies and digital asset management advisory services, our crypto tracker tool has helped save a company nearly $15 million by just being able to have a solid grasp of crypto balances and cost basis in real time”. This is, however, just a glimpse of the strategic value Marmar brings to the table as an external CFO to his clients. With an excellent track record, the company has successfully carried out more than 5,000 timely month-end closes and claims 99 percent customer satisfaction.
How it Works
A typical client engagement at JFDI commences with a deeper dive into the client’s industry, business, and requirements. The JFDI team is totally invested in understanding the challenges of the clients and spends quality time researching effective solutions and proposes various strategies to overcome them. Additionally, the team is focused on identifying growth opportunities, thus adding more value to their organizations when formulating revenue, expense, and tax optimization strategies. JFDI also provides 24/7/365 around-the-clock support via shared private channels.
Based on the latest technology available in the market, JFDI strikes a different note in managing the bookkeeping services for companies. The back-office functionalities are much like the traditional QuickBooks online—a software package that is a cheaper but reliable option. Marmar built an application that moves data from QuickBooks to a private database that refreshes itself on a regular basis. “We have our JFDI Tech Suite added to the Excel ribbon, which enables our team to produce reports in no time,” says Marmar. One of the main client reports is their FRP which is a customized dynamic financial reporting package that contains an income statement, balance sheet, cash flows and other detailed transaction analysis worksheets.” This report gives a three-level drill down allowing readers to see transactional data and ultimately provides full transparency through its reports. Another unique report is the labor analysis report which automatically pulls data from the Gusto payroll platform and allows the clients to have full clarity into their headcount and labor costs.
Committed to Your Success
Playing several roles to keep the company on top, Marmar enjoys to step back to help people out with their accounting needs. Even amid the COVID-19 situation, Marmar and his team have spent hundreds of hours helping out a plethora of individuals, friends and family in need pro-bono. “Not everything we do here at JFDI is about money; we genuinely want to help people out. Our mission is to help good people and add significant value to them, that is what keeps me going,” he adds.
JFDI is on a constant journey to build new service offerings through technology innovation. With this, the company is in progress to develop a high net worth division that is on track to launch in Q4 of this year. Moving ahead, the company plans to expand offices, apart from the one in Las Vegas.