Modernica finds a good fit in QuickBooks, managing reports, taxes, and more

Put simply, Modernica manufactures furniture, lighting, and other home products—all built by a team of skilled craftspeople at the company’s five-acre campus in Los Angeles. But it’s the quality and exquisite detail of those products that’s difficult to communicate without actually seeing the pieces—or going down the rabbit hole that is Modernica’s YouTube channel. 

“We have a specific vision of design that is not duplicated by many other companies,” explains CEO Jay Novak, when asked what sets his company apart. “We have a certain level of craftsmanship that is not duplicated by many. And we have a large program of collaboration with other designers, artists, and personalities.”

Novak and his team are extremely intentional about their design choices, taking into account not just the function of each piece, but its logic and design details. And it’s not just their products that undergo a high level of scrutiny. When, in 2016, it came time to choose an accounting platform, the team looked at their choices from multiple angles. 

“I needed to know cash flow,” says Novak. “That's critical for a business. Our accounting staff steered us toward QuickBooks.”

Josh Barcenas, head of Modernica’s marketing and e-commerce, looked at the decision from an e-commerce perspective and overall match to Modernica’s needs. “It seemed like QuickBooks fit into the ecosystem of Modernica and what we needed to operate on a daily basis,” he says.

After eight years of using QuickBooks, Modernica’s team is ready to talk about how they use it from day to day, and how confidence in their finances helps Modernica keep pushing their brand forward.

Modernica’s bookkeeper shares his thoughts on QuickBooks

Javier Veloz is the bookkeeper at Modernica. “QuickBooks was truly a game changer when it was implemented in 2016,” he says. 

“It has some robust features, such as job costing, inventory management, and some of the payroll processing. It really streamlines operations of the business and helps us see our financial performance.

“One key feature that I like about QuickBooks is the importing of IIF files, which we use with our third party payroll servicing provider. It's seamless and it's time efficient. Instead of manually importing all that data, we can easily manage that in one click with the import.”

Another aspect of QuickBooks that Veloz appreciates is how easy it is to run thorough reports and measure Modernica’s cash flow and profitability. "The reporting features are comprehensive,” he says. “They provide a wealth of insights into business performance. The report center can generate customized reports to track sales, expenses, and profitability for the business. I really like the flexibility to create customized reports for any of our specific needs."

Novak adds, “QuickBooks puts accounts payable and accounts receivable at our fingertips.” As a result, he always knows where the business stands financially. “I don't have to worry about it. I can just ask, and the answer is always there. So that gives me some freedom.”

Taxes are another area in which Veloz says QuickBooks has been an asset: "QuickBooks is an overall help when it comes to tax preparations. From submitting journal entries, to our monthly payroll bank reconciliations. It automatically matches transactions, resolves, and identifies any discrepancies. And I appreciate the ability to import any bank statements directly into QuickBooks. It reduces the errors when it comes to the final preparation."

Finally, there’s the integrations—a subject Barcenas can speak to personally. “I run our e-commerce, and something that was crucial for me was to make sure that our e-commerce software worked seamlessly with QuickBooks. I had to learn a lot of integrations that were compatible between the two systems.” Barcenas says his efforts were successful. Modernica’s different points of sale all work effectively together, and QuickBooks keeps track of it all.

Modernica’s team talks success and collaboration

When asked what success looks like for Modernica, Novak says it comes down to acceptance. “Acceptance by our customers. Acceptance, and thus sales,” he says. 

Barcenas agrees. “I think our audience is unique in that we can hit different age demographics. Our furniture has grown with the audience, as well as captured new and younger audiences. These designs have come back and have second or third winds. I think we've been able to translate our business to multiple different generations, and more generations to come.”

But how does a company that focuses largely on mid-century designs stay fresh? Part of it, Barcenas says, is Modernica’s partnerships with trending artists and brands. “We've ranged from blue chip artists, to leading brands, to figures in sports,” he explains. “We've been able to find a way to translate our furniture to different people's artwork and brands, within our identity.” 

Barcenas continues, “To work on a collaboration also brings in new audiences for us. Not just people that are into design, but people that may have seen a chair that we created with a sports brand like Nike. It brings in those types of audiences as well.”

As for the kinds of brands or artists Modernica works with, Barcenas says that—like the company’s decision to run with QuickBooks—has been a choice based on fit. “In general, somebody that has a passion for this type of furniture, and for design,” he says, “Luckily, a lot of ours are personal relationships we've built with artists and clients over time. We've been able to collaborate together and use all the strengths between their companies and ours to create a partnership that translates well to our audiences.”

Modernica looks ahead

As the Modernica team looks at what’s next for the brand, they understand remaining agile is key to their success. “Even though we've grown a lot, we've retained a lot of fluidity,” Novack says. “We're doing something that other furniture companies can't do, or are not doing. It really gives us the benefit in the industry,” adds Barecenas. He credits that in large part to their hands-on approach to production, with every piece created by their team in Los Angeles.

QuickBooks keeps Modernica’s account information up-to-date, so the team can make more informed business decisions. With many new unique collaborations on the horizon, and growth on everyone’s mind, it’s an invaluable tool to have—one that continues to work well with a team that’s all about making intentional choices. 

“We’re trying to keep evolving, keep the brand pushing forward, and reach new audiences,” says Barcenas. “We’re always working to expose Modernica to somebody that might not have been introduced to us before.”

It’s a mission that QuickBooks will be able to serve for decades to come.

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