We are a well-established utility excavation and infrastructure contractor based in Hawai‘i that has recently completed an acquisition. We are seeking an experienced accountant or CPA for a multi-phase project to clean up our financials, establish accurate opening balances, rearchitect reporting for scalability, and support our longer-term transition to a more robust accounting system and accrual-based reporting.
Project Overview
This engagement will be delivered in phases. The initial focus is on post-acquisition accuracy and cleanup. Longer-term phases will support our migration from QuickBooks Desktop Enterprise Silver to QuickBooks Online Advanced and a conversion from cash-basis to accrual-basis accounting. This will enable professional month-end financial reporting packages with better visibility into project performance, receivables, payables, and cash flow.
Phase 1: Opening Balance Sheet
Develop a post-acquisition opening balance sheet using our most recent internal financial statements and detailed acquisition records (purchase agreement, asset valuations, liabilities assumed, etc.).
Reconcile all accounts, identify and resolve discrepancies, and properly record acquisition-related adjustments (goodwill, fair value allocations, etc.).
Deliverables: Final opening balance sheet with supporting schedules and reconciliation notes.
Phase 2: Correction and True-Up of Existing Financial Model
Review and correct our current financial model/spreadsheets for accuracy.
Perform necessary true-up adjustments for revenue recognition, cost of goods sold, accruals, intercompany items, and any other misstatements.
Ensure the model properly reflects the combined operations post-acquisition.
Deliverables: Cleaned and validated financial model with clear documentation of all adjustments made.
Phase 3: Rearchitect Financial Statements for Expansion
Collaborate with management to redesign and restructure our financial statements and reporting package.
Incorporate new accounts, departments, segments, or job-costing structures needed for the company’s expansion plans.
Recommend improved financial reporting formats that provide better visibility into project profitability, cash flow, and key performance metrics relevant to a utility/infrastructure contractor.
Begin preparatory work for accrual-basis reporting (e.g., proper setup of AR/AP, accruals, and month-end close processes).
Deliverables: Updated chart of accounts, restructured financial statement templates (Income Statement, Balance Sheet, Cash Flow), and a standardized month-end reporting package framework.
Phase 4: QuickBooks Migration and Cash-to-Accrual Conversion
Support the migration from QuickBooks Desktop Enterprise Silver to QuickBooks Online Advanced, including data cleanup, testing, and validation to minimize disruption.
Convert accounting from cash basis to accrual basis to support accurate month-end financial reporting.
Configure QBO Advanced features (e.g., enhanced reporting, custom fields for job costing, workflows) to align with the rearchitected financial statements.
Train management/bookkeeping staff on new processes as needed.
Deliverables: Successful migration with reconciled data, accrual-basis financials, documented conversion adjustments, and operational month-end close procedures.
Project Details
Duration: 4–10 weeks;
Time Commitment: Part-time / as-needed basis (estimated 10–25 hours per week during active phases).
Work Style: Mostly remote. Occasional calls with management (Hawai‘i & Pacific time zones).
Tools: Current use of QuickBooks Desktop Enterprise Silver and Excel/Google Sheets. Strong experience with QB Desktop → QBO migrations and cash-to-accrual conversions is required.
Access: Secure access to necessary files, historical financials, and acquisition documents under NDA.
Ideal Candidate
CPA, EA, or strong accounting professional with hands-on experience in construction/utility/service contracting.
Proven track record with business acquisitions, opening balance sheets, financial restructuring, QuickBooks migrations (Desktop Enterprise to QBO Advanced), and cash-to-accrual conversions.
Ability to explain complex adjustments and system changes clearly to non-financial management.
Detail-oriented, proactive, and able to work independently.
Please include in your proposal:
Relevant experience with similar projects (acquisitions, QB migrations, cash-to-accrual, construction accounting).
Estimated total hours or weekly availability per phase.
Any questions about the scope.
Brief outline of your approach to Phase 1 and thoughts on the migration/conversion.
We are looking to move quickly on the initial phases and will prioritize candidates who can start within the next week. NDA will be required.