CFOx completed the first phase of a multi-phase project with a Colorado-based client that specializes in custom Toyota modifications and consultations. The CFOx Accounting Services team cleaned up the client’s financial statements, implemented internal accounting processes, improved financial reporting, and provided monthly accounting services.
In this phase, CFOx assessed current accounting processes and optimized the Chart of Accounts for more consistent financial reporting. The team performed a historical clean-up of the balance sheet and provided monthly reconciliation schedules to maintain accuracy. CFOx also ensured revenues and expenses were recorded in the correct periods and accounts.
CFOx helped the client automate financial reporting by migrating to a new payroll provider, setting up recurring journal entries, streamlining transaction categorization, and automating ACH transfers to vendors. These measures reduced the time spent on manual accounting tasks.
Proper accounting processes and streamlined systems are crucial for growing companies. Investing in accounting infrastructure early saves time and prevents confusion for owners, investors, and management in the future.
If you would like to learn more about our Accounting and CFO Services, please reach out via email ([email protected]) or schedule a call directly on our Contact Us page.
CFO Services Provided:
- Accounting Processes and Procedures
- Historical Accounting Clean Up
- System Implementation
- Monthly financial reporting & accounting services
