"In the four years Paul Fields spent as CFO of Sam & Harry's, the company grew from one unit to five, the accounting and human resources departments became efficient and organized, and key operations systems were implemented. Paul's leadership, sound guidance, industry experience and financial expertise made him an indispensable part of our senior management team."
Sam & Harry's Restaurant Holdings, LLC
RDS' Contract CFO Service is designed for emerging growth
clients who seek the expertise of an in-house Chief Financial Officer but
do not have the need to hire one full-time. On a part-time/consultancy basis,
our contract CFO oversees daily, weekly and monthly financial functions,
as well as one-time and on-going activities that fall under the CFO umbrella.
As each client's needs vary, RDS will customize a program to suit individual
clients' needs and budget. The following Contract CFO services are offered:
- Set up systems and spreadsheets for inventory and payroll;
- Set up transfer system;
- Review sales tax procedures;
- Review/evaluate employee file system;
- Observe and evaluate an inventory;
- Observe and evaluate a store management shift, opening and closing;
- Evaluate banking system;
- Review leases and prepare overviews;
- Set up credit card receivables.
- Management of cash (cash transfers, prepare / review cash worksheet).
- Prepare weekly cash flow;
- Review A/P with recommendations on what to pay;
- Interface with vendors;
- Supervision of inventories;
- Oversee production of weekly P&L statements.
- Receive and review bank statements;
- Review each bank reconciliation;
- Production of financial statements;
- Interpret and review financial statements with senior management;
- Review all first-of-the-month payments;
- Prepare monthly reports.
Ongoing and Periodic Activities
- Set-up and monitor systems;
- Oversee employee benefits programs,
including insurance and 401(K);
- Oversee preparation of tax returns;
- Oversee audits;
- Review of licenses;
- Oversee legal issues;
- Review credit card rates and contracts.