Michael Ravert Email & Phone Number

Carmel Hamlet, Ny, Us

Implemented an efficient cash concentration structure and implemented controls to remediate an inefficient legacy cash management structure to free up “trapped cash”.Selected new merchant processors and eliminated significant costs associated with transactions and gateway fees for HOP. Realized saving of ~$120K annually.Changed lockbox services saving ~$140K annually while improving visibility and efficiencies.Worked with Merchant processors to qualify HOP for level II and Level 3 processing status reducing interchange fees by ~$165K annual savings.Obtain 3rd party financing for HOP’s Capex spending. HOP Targets 5–7-year capital lease.Implemented a sales leaseback program to free up ~$3M of capital to deploy, build equity value for HOP.Manage end-to-end annual insurance renewal process along with COI issuance, policy audits and invoice payment.Helped Inaugurated and maintain the Treasury policy for HOP.Monitor letters of credit, review interest charges, interest rate swap invoices and institute payments.Assist in corporate presentations.Perform daily cash reconciliation.Key company point of contact for all banking related issues.Create asset records and provide accounting information to the purchasing department.Analyze and reconcile fixed asset accounts including construction in progress account.

Perform daily cash reconciliation.Forecast daily cash requirements.Distribute prior day cash activity to Accounts Payable, Accounts Receivable and Credit DepartmentsExecute national and international wire transfers.Manage cash pooling system.Manage cash investments to ensure highest yield and time of deposit based on cash needs of the companies in pooling system.Company point of contact for all banking related issues.Work with bank to clear up issues concerning company banking issues.Perform monthly closing of cash account posting cash receipts, disbursements and accruals not previously posted by other departments.Analyze General Ledger accounts on an ongoing basis.Prepare/Execute journal entries to General Ledger as needed.Prepare Fixed Asset and Investment SEC Schedules on a quarterly basis.Determine capitalization (fixed assets) eligibility for purchases.Create asset records and provide accounting information to the purchasing department.Analyze and reconcile fixed asset accounts including construction in progress account.Transfer Construction in Progress assets to capital (fixed asset) accounts as appropriate.Perform depreciation function during month end close.Dispose assets when no longer in service and determine gain or loss on items.

Bachelor, Business Administration

Associate, Accounting