Global Skateboard & Apparel Seller
Multi-platform reconciliation, end-to-end US compliance, and full AR/AP management for a global e-commerce leader.
Since 2020, this high-volume global e-commerce and wholesale client required a sophisticated financial partner capable of navigating complex international cash flows, multi-platform sales reconciliation, and rigorous US-specific compliance. The client faced challenges in high-volume transaction reconciliation, intricate AR/AP management, comprehensive US compliance across multiple states, ongoing audit preparedness, and the absence of structured cash flow projections and annual budgeting.
Accountables operates as an integrated, specialized accounting department for the client, focusing on AR/AP Management, Global E-commerce Reconciliation, and Comprehensive US Compliance.
- —Accurate recording of invoices and meticulous revenue reconciliation from reports extracted through platforms like Exenta and Shopify.
- —Comprehensive customer payment reconciliation and proactive AR ageing and management to optimise cash flow and minimise bad debt.
- —Thorough expense recording and reconciliation in QuickBooks, ensuring all expenditures are accurately categorised and accounted for.
- —Efficient handling of payments, including issuing checks, ACHs, and EFTs, alongside preparing detailed vendor reconciliations and managing subcontractor payments.
- —Regular communication with vendors to resolve discrepancies and proactive AP ageing and management for better financial control.
- —All reconciliations, including comprehensive bookkeeping and period-end accounting, are performed diligently.
- —Periodical finance and accounts reports are consistently shared with the client, providing real-time insights for informed decision-making.
- —Maintaining a precise Fixed Asset Register using specialised Asset Tiger software.
- —Preparing prepaid expense schedules and accurately amortising expenses over their useful life.
- —Thorough review of accrued liabilities and expenses during month-end close to ensure financial accuracy.
- —Regular preparation of detailed cash forecasts to support liquidity management and strategic operational planning.
- —Preparation of comprehensive annual budgets, enabling the client to set financial targets and allocate resources effectively.
- —Expert preparation of data required for audits in the specific format requested by auditors.
- —Proactive assistance with audit queries, ensuring smooth and successful audit outcomes with minimal disruption.
- —Meticulous management of the US Department of Commerce survey.
- —Handling respective state compliances with respect to franchise tax, Sales and Use tax, and business property statements, among others.
- ✓Enhanced Financial Clarity & Control: Streamlined revenue and expense reconciliation across complex multi-platform operations provided a clear and accurate financial picture, enabling better decision-making.
- ✓Optimised Cash Flow & Strategic Planning: Proactive AR/AP management, regular cash flow projections, and annual budgeting significantly improved liquidity, financial stability, and strategic foresight.
- ✓Guaranteed Compliance: All US-specific and general statutory compliance requirements are meticulously met, mitigating risks, avoiding penalties, and ensuring peace of mind.
- ✓Seamless Audit Processes: Expert preparation and support during yearly, client, and vendor audits minimised disruption and ensured successful outcomes, reinforcing trust with stakeholders.
- ✓Operational Efficiency: By outsourcing complex financial tasks, the client's internal team can now focus on core business growth, product development, and market expansion.
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