Accounting Wins Charleston SC

Hospitality Engagement

Transformed the accounting and human resources department for an event rental business, implementing completely automated systems and processes.

Company was 12 years old and within two years of our engagement, company achieved 67% growth and agreed to sell to private equity firm
We were tasked to lead all of the sale’s due diligence efforts, the post-sale Net Working Capital calculations and the Final Closing Statement
Following sale, we were retained to lead the subsequent initial financial audit, as well as:
Led the revaluation projects for each new acquisition, using third party appraisal firm

Built the Inventory Management Module within existing sales system
- Encompassed nine locations across VA, TN, NC, and SC and over 100,000 individual SKUs.
- Set up Depreciation Module for Federal, State, and Book depreciation using the revalued figures
Many of the acquired companies used this same sales system pre-acquisition and old values still existed in the system
Lead internal audit of compliance processes, including sales & use tax, business personal property filings, and business licenses
Completed the quarterly estimated tax requirements for the company’s CPA Firm
- Including calculating State Apportionment Ratios and projected revenue, payroll, and CapEx spend on a per state basis
Completed Net Working Capital and Final Closing Statement calculations and reporting for new acquisitions

Built the accounting department for a technology company that designed and developed applications for the iPhone and Android

Implemented Expensify, which reduced expense reimbursement time frames from nearly two months to every two weeks (approved expense reports paid out on the following payroll)
Transitioned company from Time & Materials Billing to Milestone-Based Billing
Although not yet required, we wanted to prepare for the then-upcoming new accounting guidelines for revenue recognition for technology companies
Built custom Resource Utilization Model to maximize productivity and efficiency with the design and development teams
Built Sales Pipeline Model in SalesForce
Model pulled new and existing quotes from Business Development team and applied a probability to each to give us a monthly view into the company’s revenue pipeline
Implemented fully-automated accounting system and integrated with Expensify, SalesForce, and Intuit Full Service Payroll (Intuit’s comparable option to ADP and Paychex)

Built accounting department for a Winery / Restaurant, which also operated a gift shop and a catering division

Discovered and implemented SalesVu POS
- System is completely centralized iPad-based through a SaaS subscription
- This decision saved the company tens-of-thousands of dollars because it was simply a $200 per month subscription rather than a stand-alone cash register set-up, which would have cost $10,000 implementation fee, $3,500 annual maintenance fee, upgrade requirements, and less efficient operations.
- System also includes Human Resource Management, Inventory Management and Marketing Campaign Management
This allowed company to obtain a 360-degree view of the business in real-time
- Including revenues at any given time
- Labor cost in real-time, which greatly helped decision making with regards to staffing decisions on-the-fly
- Inventory levels updates in real-time
  - This tool was invaluable when off-site events were occurring and every department count see updated inventory levels at any time…without even needing to be in front of the computer