Growing Pains

Case Study: Growing Pains

OUR SOLUTION

Accounted was brought in to take over bookkeeping, CFO support and all finance department functions. Within the first two months they completed several key tasks.

Next steps included additional actions to improve operations.

+ Standard reporting schedule + monthly review meeting

+ Complete Balance Sheet reconciliation every month

+ Established SOP for monthly inventory counts + tracking

+ Converted contractors to employees

+ Reviewed insurance and obtained adequate coverage

Accounted continued to fine tune operations.

To improve margins, labor assembly costs were calculated and it was determined that the company should outsource this function to improve the bottom line. Sales tax was incorrectly being charged to customers. Accounted corrected the e-commerce set up issues that were causing the problem. A wholesale business model was created to establish pricing and identify margin targets.

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