MFD Advisory Now Closes Monthly Books 5 Days Early with Tofu

How MFD Advisory is closing books 5 days earlier

Fakhrudin knows what it feels like to drown in documents.

As a former accountant who worked 18 to 20 hour days doing double entries, he left the profession entirely. "Accountant doesn't pay well," he says. "You just came in, do the double entries, drowning into documents, running to chase deadlines. It was very boring for me."

He founded MFD Advisory to provide CFO services to Malaysian SMEs. Strategic financial guidance, not data entry. But clients kept asking for bookkeeping. And once he took it on, it became a bottleneck.

"Day to day, we were focusing more on bookkeeping than analyzing the business. We need more time to analyze the markets, to have deep understanding of the business. We don't have time to do bookkeeping."
Fakhrudin Fauzi, Founder & CEO, MFD Advisory

The bottleneck

MFD's two person bookkeeping team was spending 8 hours per day on data entry. They processed around 500 invoices monthly across 8 to 10 clients. Many of whom came with a backlog of one to two years of unfinished books.

Dean set a KPI: close monthly accounting by the 15th of each month.

They never hit it.

"70% of the accounting process is the document entry. If we can eliminate that part, then accounting will be very, very easy for us."
Fakhrudin Fauzi, Founder & CEO, MFD Advisory

Finding Tofu

MFD hadn't tried any automation tools before. Tofu was their first.

The setup was quick. Within days, the team was processing invoices through Tofu instead of manually keying them into QuickBooks. No complicated configuration. No rule building. Just upload and review.

The feature that sold Dean? Auto attach.

"The feature I like most is you automatically attach the documents into QuickBooks. If I want to check my accountant's work, I don't have to go into Tofu or the drive to look for invoices. I just open QuickBooks, go to the transaction, and there's the attachment."
Fakhrudin Fauzi, Founder & CEO, MFD Advisory

The transformation

Before Tofu, the team never hit their 15th of month deadline.

Now they close by the 10th. Five days early.

"Before Tofu, they never reached the KPI. Now I can see they reach it. Maybe by the 10th of every month, they've already finished the accounting."
Fakhrudin Fauzi, Founder & CEO, MFD Advisory

The staff who used to spend full days on data entry now focus on what MFD was built for: cash flow analysis, business advisory, and CFO services.

His advice to other firms

"Tofu is not an additional tool, it's a must have for every accountant. Every accountant in the world needs to upgrade their skills. If they just focus on being a freelancer doing things the old way, they'll be old school. We need to focus on analyzing the business, rather than just entry the documents."
Fakhrudin Fauzi, Founder & CEO, MFD Advisory