Retail / Online Sellers

Situation: A retailer with multiple locations managed more than $1 million in monthly expenses without consistent accounting procedures. Expense categories, transaction documentation, and reconciliations varied across the business.

Solution: Tronconi Segarra & Associates established a structured chart of accounts and documented procedures covering point-of-sale activity, cash management, expense tracking, and reconciliation.

Impact: The retailer gained clearer expense reporting, more consistent financial processes, and better visibility into transactions across its locations.

Situation: A growing online retailer received notices about state sales tax filing requirements that its previous accountant had advised it to disregard.

Solution: Our team analyzed where the business had verifiable sales tax obligations and completed voluntary disclosure agreements (VDA) or registrations in the applicable states.

Impact: Because of the sales tax VDAs and registrations, the retailer achieved significant savings in taxes, penalties, and interest while addressing compliance issues that could have complicated a future sale.

Situation: A retailer operating more than 100 stores across over 10 states faced tax audits and extensive compliance requirements with limited internal resources.

Solution: Our team supported state audits, streamlined more than 400 annual sales tax filings, reviewed construction purchases for use tax, and identified available exemptions and credits.

Impact: Our solutions reduced the client’s audit assessments, identified approximately $100,000 in monthly overpayments and $1 million in annual utility and resale credits, and reduced compliance preparation time from eight days to 1.5 days.

Situation: A rapidly growing online business was considering an initial public offering and needed to prepare its financial accounting practices for the process.

Solution: Our team helped strengthen the company’s accounting policies and procedures in anticipation of the reporting requirements and scrutiny associated with going public.

Impact: The company completed its IPO 18 months after the project ended, with no significant financial reporting findings during underwriting.

Situation: A retail client considering an acquisition needed to determine whether the seller’s reported earnings supported the proposed purchase price.

Solution: Our team performed a quality of earnings analysis and identified a significant overstatement in the seller’s earnings.

Impact: The findings supported a purchase price reduction that saved the client $80 million.

Situation: A retailer with multiple locations and more than $1 million in monthly expenses needed a full year of accounting records cleaned up before the September 15 tax deadline.

Solution: Our team reconciled cash and credit card activity, categorized transactions, reviewed inventory records, and established an ongoing accounting support process.

Impact: The client met its filing deadline and gained more reliable financial records, along with continued support designed to keep its books current.

Situation: A retailer with multiple locations experienced a disorganized transition from its previous CPA firm and needed accurate opening balances for its new accounting system.

Solution: Our team reviewed the transferred information, established appropriate account balances, and prepared an opening balance sheet.

Impact: The retailer gained a dependable foundation for ongoing reporting and managing more than $1 million in monthly expenses, reducing uncertainty carried over from the transition.