Wins Accounting


Accounting Wins Charleston SC

A Win for an Event Rental Business

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
Hospitality Engagement
  • 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

A Win for a Tech Company

Technology Engagement

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

Technology Engagement
  • 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)

Another Hospitality Win

Winery / Restaurant Engagement

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
Winery / Restaurant Engagement