CFOx recently provided CFO services to an acquisitive, family-owned restaurant group.
The group’s management was frustrated by the inability to produce monthly financials and wanted to implement consistent accounting processes across all restaurants. The first step was to migrate all the restaurants from a desktop accounting software to a cloud-based accounting software. Next, the CFOx team implemented a master Chart of Accounts to be utilized uniformly across all the restaurants and integrated the group’s Point-of-Sale (POS) with the cloud-based accounting software. This resulted in significantly improved financial reporting and the ability to produce monthly financials in a timely fashion, providing management the visibility it needed.
On a go-forward basis, CFOx will serve as the group’s Fractional CFO and assist with accounting integrations for new acquisitions.
CFO Services Provided:
- Historical Accounting Clean-Up
- Accounting Processes & Procedures
- Accounting Integration
- Financial Reporting
- Fractional CFO