Elmo Torres Email & Phone Number

Itasca, Illinois

Brought in to improve trial balance and financial statements after installation of new accounting system; administer general ledger activity as well as generate year-end book balance, create backup documentation for audits.Create month end closing process; balance sheet account reconciliations including accruals and allocations, review of P & L accounts, financial reporting for seven locations with detailed reports.POC/WIP Cycle; review job costing and manage month end POC process with 1,000 plus jobs. Main contact for job costing at yearend with outside auditors. Involved with revenue recognition changes.Union Payroll job costing; modified process and ensure actual hourly cost including benefits and overhead is properly charged to the job. Outside contacts; yearend audit with public accountants, monthly bank reporting and yearly audit for large line of credit, workmen’s comp annual audit, 401k audit, payroll reporting, and sales and use tax.

Itasca, Illinois

Administered accounting and financial operations for 3 primary entities with 125 units generating $100 million annually; ensured performance of 6 employees (accountants, receivables/payables staff, HR/payroll associates); manage profit & loss activity for all divisions (Back to Bed; Bedding Experts; Mattress Barn; Mattress Experts; Mattress Inc.).Scope of responsibilities comprised budget projections and development; monthly closings, adjustments, financial statements and reporting; cash flow review and executive presentation; key performance metric reporting; financial package creation and verification; major expense accruals and adjustments; intercompany account balance verifications; account reconciliations; inter-company cash transfers; payables, expense account and outstanding cash reconciliation reviews; payroll review and issuance; personal property tax return filing; workers’ compensation report and audit preparation; 401k audit reporting for audits; government survey requests.* Instrumental in preparation of data facilitating sale of company for $60 million (plus working capital adjustments) to recent buyer, Mattress Firm.* Prevented $1 million budget overage through creation of adverting budget with comparison.* Enabled profit increase through use of economies of scale and strengthened expense controls; additionally maintained payroll expense through commission adjustments and controls on hourly employees as well as close review of advertising expenses.* Saved over $5,000 per pay period through analysis of warehouse and delivery driver payroll trends and educating warehouse manager on amount of stops compensating drivers versus actual stops being billed to customers.* Enhanced information access and decision-making speed through shorter close schedule with enhanced detail metrics; included balance sheet item verification and backup supporting final amount, individual associate accountability and addition of metric reports to closing package.

Bridgeview, Illinois

Organized and contributed hands-on to financial operations; oversaw 20 staff spread throughout office management, cash collections, payables, payroll, inventory and data entry. Oversaw complete scope of accounting and financial functions including profit & loss management, financial statements, payables and receivables, taxes and banking; additionally assisted with advertising and warehouse operations.* Played instrumental role in company expansion from 12 locations with $4.5 million in revenue to 103 locations with $58 million in revenue.* Negotiated purchase of ownership percentage and played instrumental role in growth of company from 12 units and $4.5 million in revenue to 25 units, and eventually 103 units (via acquisition of Bedding Experts with 50 units); negotiated early buyout of Mattress World’s contract to sell manufactured products from Bedding Experts’ previous owner; directly involved in purchase of Bedding Experts as well as sale of company to Back to Bed.* Reversed performance losing $5 million annually by increasing sales, reducing expenses and negotiating with vendors to extend credit and create positive cash flow; within 2 years, brought company back to profitability.* Reduced warehouse operating expenses through strategy streamlining operations, warehouse product placements and flow, inventory flow and inventory turnover.* Introduced semi-automated payroll commission reports via use of downloaded data in Excel with movement of individual lines.* Spearheaded search, location, move and setup of 82,000 square foot warehouse; utilized accounting background to assist with space allocation for inventory items base on sales rates and determined number of employees based on product piece flow in and out of warehouse.* Improved inventory count results through introduction of bar coding program within 103 units and main warehouse.

Buffalo Grove, Illinois

Chicago, Illinois