Accountant Spotlight: Mackenzie Patel at Hash Basis
Our Accounting Spotlights highlight inspirational leaders in the profession who are making a difference for their clients and community. Know someone who deserves to be featured? Submit a nomination.
In our latest Accountant Spotlight Series, we're excited to feature Mackenzie Patel, who started a unique crypto accounting practice earlier in 2023 called Hash Basis.
With that, here's Mackenzie's story:
Pioneering crypto accounting
Mackenzie's firm, Hash Basis, is a crypto native accounting firm based in San Francisco and focuses exclusively on addressing the unique challenges faced by companies and individuals in this rapidly evolving sector.
She shared, “We help both individuals and businesses with their crypto and fiat accounting, taxes and crypto subledger implementation needs. We can reconcile the gnarliest crypto wallets and ensure you are compliant with the ever-evolving crypto regulatory landscape. We love getting into the weeds and making sure your accounting data is accurate and useful! In the crypto world, specialized accounting services are key as many clients are pre-revenue, and most of their expenses are in cash.
Accordingly, Mackenzie and her team excel at helping clients navigate the complexities of both cash and crypto transactions. They provide essential support in managing burn rates, providing financial stability, and delivering accurate and timely financials every month.
Transforming financial management for crypto startups
One of Mackenzie's notable achievements includes significantly reducing the book closing time for a crypto payments startup.
"Once we started helping this client, we set up their crypto accounting and can close the books in under five days," she shares, showcasing the efficiency and precision of adopting Ramp into her practice. By pairing relationship management and data-driven impact, Mackenzie maintains optimal client satisfaction at Hash Basis.
Seamless processes enabled by Ramp
Ramp plays a crucial role in Mackenzie's workflow, ensuring seamless and accurate financial management. This integration is vital for her clients, who rely on her firm for swift and reliable accounting services.
“Ramp makes this process seamless and gives me peace of mind that the numbers are accurate,” she added. When discussing her favorite Ramp features, Mackenzie highlighted Bill Pay and the workflow with QuickBooks. “Bill Pay on Ramp is awesome! My clients can enter a bill, attach the invoice, and the accounts payable automatically syncs into QuickBooks. When payment is actually made, QuickBooks can automatically detect the payment and close the AP. It really streamlines bill pay for my customers and makes receipt and invoice collection so much easier.”
In summary
Mackenzie Patel's journey in establishing a crypto accounting practice is a testament to the innovative spirit required in today's accounting landscape. Her firm not only addresses the unique needs of crypto businesses but also sets new standards in efficiency and accuracy.
At Ramp, we celebrate Mackenzie's pioneering approach and her significant contributions to the field of crypto accounting.
Nominate an accountant who you feel deserves a place in our Spotlight Series!
Brad Gustafson leads the Accounting Partnerships Channel at Ramp. With over a decade of experience, including managing Top 100 firm partnerships at Xero, he’s passionate about building a strong, engaged community of accountants connected through innovative technology and shared opportunities.
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