Client Situation During ongoing litigation involving concerns over the mismanagement of financial assets, a dispute arose between relevant parties regarding how funds had been handled across multiple accounts. The court required a clear, objective understanding of how assets had been used and whether any transactions were unauthorized. Objective The goal was to analyze several years … Read more
Managing expenses is a critical part of running a successful business. One of the most effective tools in QuickBooks Online for gaining insight into your company’s spending is the “Expenses by Vendor” report. This report provides a detailed breakdown of how much your business pays to each supplier or vendor over a specified period. The … Read more
In today’s evolving financial environment, banks face increasing pressure to detect unusual, high‑risk or fraudulent financial behavior before problems escalate. Long before questionable transactions hit an account or fraudulent activity is uncovered, various red flags can begin to surface. Potential warning signs that commonly occur can be behavioral, transactional, payment-related, and organizational, as described below. … Read more
One of the most critical accounting tasks for maintaining accurate financial records is reconciling your accounts. QuickBooks® Online makes the reconciliation process user-friendly. However, the process still requires attention to detail and consistency to ensure accurate results. You must reconcile accounts for several important factors that affect both the day-to-day and overall financial health of … Read more
Exit planning for a multi-owner business can be especially complicated due to the number of stakeholders with unique individual circumstances. The exit plan for one owner may not be identical to the exit plan for all of the owners. This is true even in businesses owned by members of the same family (in some cases, … Read more
How Financial Readiness and Sell-Side Diligence Improve Process Efficiency and Deal Certainty For owners looking back on a sale, buy-side financial due diligence is often remembered less for any single accounting issue and more for how it felt: the pace, the pressure, the credibility challenges, and the moments where the process either reinforced confidence or … Read more
Client Situation An investor in a privately held energy sector company sought clarity regarding the organization’s worsening financial position. The company—engaged in oil and gas exploration and production—was experiencing significant and unexplained cash flow shortages. Engagement Objective The investor requested an independent forensic review to understand the true financial condition of the business and the … Read more
Sell-side financial due diligence, often called a sell-side Quality of Earnings (QoE) review, helps privately owned businesses prepare for a sale by giving buyers clearer and more reliable financial information. For companies that have never had an audit, this review reduces uncertainty about revenue, expenses, and working capital. It also prepares owners for the level … Read more
H2R CPA Consulting Manager, Mike Clark, CPA, recently wrote an article published in the Nov/Dec 2025 issue of Breaking Ground magazine, a publication of the Master Builders Association of Western Pennsylvania. The article, “Cut Costs, Gain Expertise: Why construction companies are turning to outsourced accounting” can be found on page 43 of the issue. How can you … Read more
The IRS recently issued Notice 2025-62 offering important guidance and penalty relief for businesses and employers navigating new information reporting requirements introduced by the One, Big, Beautiful Bill Act (OBBBA). These changes affect how tips and overtime compensation are reported for tax year 2025. Here’s what you need to know: Background: What Changed Under OBBBA? … Read more