19+ YEARS OF ACCOUNTING EXPERTISE

Our strategy is to provide financial and accounting solutions to fit your company’s needs. Our process begins with defining the need and creating a solution that will benefit your company’s bottom-line.

As your outsourced controller/CFO, BottomLine Consulting will establish a relationship with the business owner or decision-maker.

We will also be able to perform the following services:

• Review the process in which the financial information – such as accounts payable, accounts receivable, purchasing, inventory, general ledger entries and sales – is recorded.
• Search for trends and note the reasonableness of revenues and margins.
• Review costs and suggest options to keep the expenses under control.
• Determine if assets are properly recorded and used.
• Review the revenue recognition to determine if it is appropriate.
• Negotiate your leases.
• Serve as the contact with your outside public accountants.
• Establish and maintain your banking relationships and reporting requirements.

In other words, we’ll assume the role of your controller/CFO so that you can concentrate on other functions integral to your success.

Solutions for Specific Projects

The following is a list of some of the projects we typically take on:

• Preparing financial statements in accordance with GAAP These financial statements can be audited or reviewed by independent accountants and banks
• Preparing buy or lease analysis
• Preparing business acquisition analysis
• Performing accounting software implementations and conversions
• Preparing budgets and budget variance reports
• Preparing cash flow projections and needs analysis
• Preparing income and expense analysis from an independent perspective

Sample Projects

Review Balance Sheet Classifications

Problem: Parent company wanted outside assurance that subsidiary was properly classifying balance sheet items.
Solution: Reviewed all account reconciliations and compared to industry-specific regulations concerning classifications.
Results: Reported on the accuracy of subsidiary’s classifications and gave advice on how to transfer some accounts to a more favorable classification.

Software Conversion

Problem: Three entities converting to a new accounting software package. No personnel on staff with available time and experience.
Solution: Reviewed new software package and mapped existing accounts to new system. Determined which accounting units were needed and set up hierarchy.
Results: Designed spreadsheet for employees to understand how the accounts would be consolidated and how the accounting units would present the needed information.

Branch Profitability Analysis

Problem: Client wanted to determine how converting client-owned stores to franchise stores would affect potential franchisees.
Solution: Prepared branch profit-loss analysis for each location. Determined what the break-even revenues were for the franchisee and company.
Results: Provided management with the tools to make an informed decision on whether to convert company-owned stores to franchise stores.

401(k) Plan Conversion Facilitator

Problem: No resources available to help the conversion of an acquired company’s 401(k) Plan into the acquiring company’s plan.
Solution: Became the liaison for the conversion between the acquiring company, auditors, plan administrators, acquiring employees, and human resource departments.
Result: Facilitated the conversion of the plan so the company’s personnel could work on other duties.