Facing Bankruptcy

A locally owned and operated freight/logistic company was facing a stark choice of declaring bankruptcy or to push ahead. With over $150,000 in credit card debt, their attorney advised bankruptcy. However, a referral to TA Accounting, we were able to call her credit cards in and have it put on a repayment plan - reducing the interest rate from 21% to 4% and used the increased principle payment to begin focusing in on one card at a time.

It was also discovered that the company only needed two additional drivers in order to cash flow at $3,000 a month with the new repayment plan. This gave the owner and his wife an immense relief and they are expected to be debt free in six years. They are also able to keep their house and the equity they have built up in it.

Restaurant Accounting

Restaurant has $2 mil annual revenue, but is still bouncing checks and suffering from lack of cash flow. Our accountants began reviewing food/liquor costs as well as pricing. It was determined that the restaurant had a large amount of waste and too low prices. The accountant implemented proper food & pour measurements, as well as raised prices on the menu.

The restaurant begin seeing immediate rebound. With costs reduced by nearly $84,000 per month, the restaurant was able to invest money into better marketing and continue sustainable growth.

Fixing Cash Flow

Printing company experienced drop in sales of $1 mil and resulting cash flow shortage resulted in vendors & banks not being paid for nearly a year. Our accountants immediately established dialog with both parties to re-establish faith. Financial oversight and controls were implemented and monthly review of financials with company decision makers allowed for better decision making.

Printing company became solvent within six months and acquired two competitors within the following year.

Financial Stability

Trade School of ten years began experiencing cash shortage, decline in enrollment, and poor financial statements. Our accountant assumed the responsibility of the bookkeeper and began work on cleaning up the financials. Monthly inventory process was implemented for the bookstore and proper cash management procedures were enacted.

Trade School showed immediate improvements within two months. Decision makers were able to review live financials and make better decisions.

Non-Profit Growth

Local non-profit day care experienced issues with finding the right profitability margin. Our accountants worked directly with the Director and Board Members in order to calculate the ideal rate for both parents and the day care. Our accountants further assisted with cash flow analysis and forecasts for the day care's expansion.

The non-profit was able to increase cash flow by $28,000 per month and under our advisement, expanded the day care. This resulted in an additional $15,000 of cash flow.

Complete Turnaround

An eleven year old, veteran owned business loses nearly $8 mil and experienced cash flow shortage, tax liens, and back pay. Our accountants immediately began negotiation with banks, collection agencies, and IRS. Strict financial controls were implemented to improve cash flow. Our accountants further investigated contract margin and found them to be under-charging with no real knowledge of costs.

The company has begun to show signs of stability. Our accountants brought the stability needed for the business owner to resume operation. The company has since landed five new contracts, worth a total of $32 mil over the next five years.