The network for creativity
Join 1.25M professional creatives like you
Connect with clients, get discovered, and run your business 100% commission-free
Creatives on Contra have earned over $150M and we are just getting started
Back to feedPost
Multi-Entity Cleanup & Accounting Optimization
Project overview
Led a comprehensive accounting cleanup for a four-entity business group with complex intercompany activity, significant AP and AR issues, duplicate transactions, and inaccurate financial reporting.
The challenge
The entities were frequently paying each other’s expenses directly, without properly recording intercompany transfers. This created reconciliation problems, an AP backlog, duplicate expenses, and inaccurate intercompany balances. Manual billing processes also created unnecessary administrative work.
What I did
Established proper intercompany transaction procedures and trained accounting staff on the correct flow of funds between entities.
Completed a comprehensive intercompany reconciliation across all four entities.
Resolved a significant AP backlog by identifying payments made from other entities and matching them to the correct invoices.
Identified and eliminated duplicate transactions that had caused expenses to be overstated.
Corrected intercompany loan balances and the allocation of interest and principal.
Reviewed and cleaned up AR activity.
Automated recurring billing in QuickBooks based on contractual terms.
Trained staff on maintaining proper intercompany accounting going forward.
Results
The cleanup brought AP and AR up to date and improved the accuracy of the financial statements. Expenses and intercompany balances were properly stated, giving management a reliable picture of the financial position and operating performance of each entity.
The improved financial reporting also supported the company during a sale process and provided lenders and prospective buyers with greater confidence in the accuracy and financial health of the business.
The network for creativity
Join 1.25M professional creatives like you
Connect with clients, get discovered, and run your business 100% commission-free
Creatives on Contra have earned over $150M and we are just getting started
Trending
retrofuturism
Share your favorite designs from the past exploring the distant future. Or your own take on the aesthetic 🚀
halftone
Dots. Texture. Grain. Let's see your designs using the halftone technique.
Midjourney
Creatives are showing off what they're making with Midjourney.
colorgrade
Video editors sound off: How do you enhance the mood of your video in color grading?
Related posts
Organized, cleaned, and accurately formatted raw client database into Google Sheets with 100% accuracy. Applied color-coded status tracking (Verified/Pending) and standardized contact details for seamless workflow management.
Most bookkeepers know one system. I run full closes in both.
QuickBooks Online for US nonprofits reporting under FASB ASC 958. Xero for UK charities reporting under Charities SORP. Same standard of accuracy on both sides — reconciled to 1.6% against a US client's Form 990, and to 0.3% against a UK client's filed accounts.
If your organization operates across either system, or you're not sure your current bookkeeper actually knows the standard you're being held to, that's worth a conversation.
A sample commercial LOI review demonstrating how I help businesses evaluate proposed lease terms before moving forward with lease documentation.
I assess the key business and financial terms of the deal, including rent structure, escalations, fixturing periods, tenant allowances, guarantees, renewal options and other commercially significant provisions. I then prioritize potential negotiation points and identify matters that should receive further legal review.
The goal is to turn a complex proposal into a clear, practical roadmap so the client understands the economics, key risks and negotiation opportunities before committing.
