LESHNER CORPORATION
CORPORATE CONTROLLER

Responsibilities:

  • All financial activities for the corporation except the treasury function and federal tax return. Includes all external and internal financial reporting.
  • Responsible for overall payroll function: 1,500 employees, with 4 union contracts.
  • Default responsibility for Human Resource issues and administration of numerous employee benefits, including medical insurance, dental insurance, 401(k), life insurance, and disability insurance.
  • Responsible for departmental Information Technology, including Local Area Network and Wide Area Network.
  • Day-to-day responsibility for interface with banks, auditors, and other financially-oriented external personnel.

 Accomplishments:

 Information Systems

  • Implemented corporation’s first Local Area Network.
  • As Divisional Controller, wrote own General Ledger package.
  • System conversion of General Ledger to Solomon, then to Macola systems.
  • System conversion from manually-kept fixed asset records to Best FAS 2000 Fixed Asset System.
  • Converted from manual ADP payroll to PC-based ADP payroll, then later to Windows/LAN-based version of software.
  • Developed Open Database Connectivity (ODBC) interface to ADP Windows/LAN-based payroll system, one of the first companies to do so. As a result, we were able to help ADP sell this system to new clients.
  • Developed module to electronically upload data into the ADP payroll system from other data sources.
  • Developed automated front-end for payroll input by plant personnel, which placed greater controls over their input and allowed the system to calculate and input items that required a great deal of effort, including overtime premium averaging.
  • Created automated General Ledger entries from Payroll system: 3,000+ entries per month. This reduced the overhead for this function from greater than one man-day, to a few minutes.
  • Automated financial statement preparation, including all P&L, Balance Sheet, and Cash Flow statements.
  • Automated check reconciliations by utilizing electronic Fifth Third Bank data. Both the internal and Fifth Third data was gathered electronically, which allowed electronic matching.
  • Designed and implemented State Use Tax calculation system based upon Accounts Payable system. Previously, the company was being encumbered with frequent, large assessments from state taxing authorities.
  • Designed and implemented automated interface for payment of employee judicial liens (i.e., wage assignments, garnishments, child support payments, etc.). This interface took data directly from the payroll system and created an electronic interface to the Accounts Payable system. The company was responsible for over 200 active cases at any point in time.
  • Created electronic interface for handling of 401(k) payments to Scudder. This included all contribution, company match, and relevant employee data.
  • Established automated system for miscellaneous, non-lockbox cash receipts. These had been recorded manually before, which necessitated a great deal of effort to research specific payments. All data was warehoused for general ledger booking and future research.
  • Designed reporting systems for handling medical, life, and dental insurance. The company was self-billed for all of these policies, and the systems generated changes and current coverage censuses.
  • Created data warehouse for selected Accounts Payable, Payroll, and General Ledger data. These were utilized for research, by appropriate employees.

 General Accounting/Control

  • Cleaned-up numerous control and reporting deficiencies. This resulted in the closure of one business, the sale of another, and the discontinuation of a product line.
  • Established first uniform chart of accounts for corporation. When I first joined the company, the chart of accounts was a conglomeration of different acquired companies, all of which had different accounts and formats. This facilitated combining into a single general ledger system.
  • Automated and consolidated physical inventory for corporation. Also, implemented extra controls and reports related to the physical inventory. All physical inventory data was driven into just two databases for the entire company, which greatly helped the ability to perform different reviews and calculations.
  • Established first manufacturing variance calculations in the company that tied to reported financial measures. This resulted in the realization that costs and selling prices were understated.
  • Automated calculations necessary for bargaining unit contract compliance, including payments for 401(k) contributions, medical insurance, attendance bonuses and vacation pay.
  • Developed reporting and allocation measures for expenses of the Corporate Transportation Division. Previously, these had just been treated as an overall overhead item.
  • Required monthly reconciliation of critical balance sheet accounts, and balancing of intercompany accounts. When I first started with the company, there was not requirement that the intercompany accounts balance, which resulted in showing improper financial results.
  • Created various internal management reports, intended for manufacturing, executive, and marketing management personnel. I was able to do this by automating and data warehousing various data.
  • Began periodic, joint meetings of plant payroll and Human Resource personnel to ensure common knowledge of procedures and to obtain feedback.

 Treasury/Cash

  • Established imprest petty cash funds at plant locations, with ACH reimbursement.
  • Utilized ACH debits to sweep various retail store cash accounts. The bank had to perform these sweeps for a fee prior to this.
  • Established procedure with Fifth Third Bank for offsite entry of lockbox detail. This eliminated half of a position.
  • Consolidated numerous Accounts Payable checking accounts into one, which allowed for quicker reconciliation, and easier treasury management.
  • Established electronic deposit of federal and state employer taxes, even before it was required. Was mentioned in Fifth Third newsletter for being one of first in area to deposit federal taxes this way.
  • Automated daily reporting to primary lending bank necessary to maintain asset-based line of credit.

 Taxes

  • Obtained sales & use tax direct pay permits for 3 states where company manufactured. This helped reduce the amount of assessments from the various state sales & use tax audits.
  • Represented the company at state sales & use tax hearings in two states.
  • Received a favorable use tax ruling from the New York Tax Commissioner, based upon a challenge to state auditors’ findings. Performed research and gathered data that allowed our position to prevail.

 Interfaces:

The following represent many, but by no means all of the normal individuals I dealt with on a day-to-day basis.

  • Deloitte & Touche Audit staff
  • Deloitte & Touche Tax staff
  • All levels of company personnel
  • Insurance brokers/reps
  • State tax personnel
  • Internal Revenue Service
  • Revenue Canada
  • National Bank of Canada Audit staff
  • ADP personnel
  • Fifth Third Bank personnel
  • Bargaining Unit reps
  • Attorneys
  • Employee benefit reps
  • Third party benefit administrator