Michael Salomone Email & Phone Number

Philadelphia, Pa, Us

King Of Prussia, Pennsylvania, United States

Manage Subcontractor Accounting including General Ledger, Accounts Payable, Job Costing, Complex Invoice review, and Subcontractor Compliance for a general contractor specializing in the construction and renovations of federal, state, and municipal buildings and property.

Broomall, Pennsylvania, United States

• Reported to the Controller and Vice President for a provider of commercial asphalt and concrete services both locally and nationally with total revenue of $14M.• Managed financial reporting, AP, AR, PR, HR, healthcare benefits, and business insurance.• Completed and filed sales tax payments for multiple states, IFTA tax returns, DOT reports, and vendor 1099’s.• Managed expenses and reconciled bank and credit card statements.• Assisted with monthly closing procedures and the… Show more • Reported to the Controller and Vice President for a provider of commercial asphalt and concrete services both locally and nationally with total revenue of $14M.• Managed financial reporting, AP, AR, PR, HR, healthcare benefits, and business insurance.• Completed and filed sales tax payments for multiple states, IFTA tax returns, DOT reports, and vendor 1099’s.• Managed expenses and reconciled bank and credit card statements.• Assisted with monthly closing procedures and the annual business insurance audit process.• Evaluated and onboarded vendors & subcontractors for proper insurance, W-9, MSA, and compliance. Achievements:- Processed daily business activities with little staff resulting in hands-on integration of accounting functions through 140% growth in 2021 and 50% growth in 2022. - Transitioned sales tax returns, and bank and credit card reconciliations in-house, eliminating outsourcing fees.- Introduced the company to Meridian Bank based on my prior relationship, resulting in a strategic partnership with funding allowing the company continued growth. - Implemented a new companywide benefits program through our broker which resulted in boosting the company’s appeal for quality candidates and increased employee productivity. Show less

King Of Prussia, Pennsylvania, United States

• Reported to the President & COO, and managed accounting operations for a provider of integrated security, video, and fire systems with total revenue of $10M.• Managed A/R, A/P, collections, bank reconciliations, financial records, sales tax payments, • Assisted with payroll, human resources, inventory control, and customer & vendor communication.Achievements:- Successfully negotiated with customers resolving disputed invoice balances, resulting in lower past-due balances and… Show more • Reported to the President & COO, and managed accounting operations for a provider of integrated security, video, and fire systems with total revenue of $10M.• Managed A/R, A/P, collections, bank reconciliations, financial records, sales tax payments, • Assisted with payroll, human resources, inventory control, and customer & vendor communication.Achievements:- Successfully negotiated with customers resolving disputed invoice balances, resulting in lower past-due balances and increased cash flow. - Worked with vendors to resolve disputed bills resulting in cost savings. Show less

Aston, Pa

• Reported directly to the owner and controlled all aspects of accounting operations for a 24/7 answering service company with total revenue of $2.5M.• Monitored AR, cash accounts, monthly account analyses, bank and credit card reconciliations, and journal entries.• Facilitated payroll from journal reports and posted entries in QuickBooks.• Managed AP, timely vendor payments, vendor inquiries, resolved issues, and retained vendor files and W-9. • Filed state revenue and sales… Show more • Reported directly to the owner and controlled all aspects of accounting operations for a 24/7 answering service company with total revenue of $2.5M.• Monitored AR, cash accounts, monthly account analyses, bank and credit card reconciliations, and journal entries.• Facilitated payroll from journal reports and posted entries in QuickBooks.• Managed AP, timely vendor payments, vendor inquiries, resolved issues, and retained vendor files and W-9. • Filed state revenue and sales tax payments.• Generated 550 monthly customer invoices, and reviewed client billing statistics, and profitability. • Partnered with MLT’s outside accounting consultants. • Evaluated annual business insurance policies with the broker for the best coverage at the lowest cost. • Created and maintained various accounting procedures and policy documentation.Achievements:- Improved Accounts Receivable collections and achieved an average Collection Effectiveness Index (CEI) of 88% and increased cash flow. Show less

Paoli, Pa

• Reported to the CFO and supervised accounting department operations for a national provider of integrated security, video, and fire systems with total revenue of $23M.• Managed accounts payable procedures, vendor reporting, and processed 1099’s. • Supervised over 400 vendor invoices per week that were properly matched and coded.• Assured timely completion of vendor payments via check, credit card, and ACH. • Reviewed credit card expenditures and prepared journal… Show more • Reported to the CFO and supervised accounting department operations for a national provider of integrated security, video, and fire systems with total revenue of $23M.• Managed accounts payable procedures, vendor reporting, and processed 1099’s. • Supervised over 400 vendor invoices per week that were properly matched and coded.• Assured timely completion of vendor payments via check, credit card, and ACH. • Reviewed credit card expenditures and prepared journal entries.• Prepared and submitted timely filing of sales and use taxes and registrations in most states.• Managed customer collections procedures and monitored customer billing, cash receipts postings, and reporting.• Consulted with vendors and customers in a professional manner to address inquiries, and concerns, and resolved problems.• Led the accounting staff with a hands-on approach encouraging open communication for ideas and improvements.• Processed biweekly payroll for 130 employees, payroll reports, and general ledger entries.• Coached, mentored, and guided support staff to ensure departmental goals were met or exceeded.• Updated accounting policies and procedures as necessary. Collaborated with department heads to reach common goals.Achievements: - Revised bad debt procedures and accelerated past due balance cases, which increased receipt of monies owed by approximately $150,000.00 over 6 months. Improved collection efforts by starting biweekly meetings with accounting and customer care departments, resulting in increased transparency and efficient collection efforts. - Eliminated the cost of rental equipment damage waivers from vendor’s bills, by using the same coverage included in the company’s business insurance policy, resulting in a $300.00 monthly savings. - Negotiated a better rate with ADP on the cost of payroll services. Show less

Malvern, Pa.

• Reported directly to the owner and managed a $4M/month AR, $3M/month AP, GL, $2.5M Credit Line & $6.5M/year PR.• Analyzed & monitored cash accounts, AR collections & bank reconciliations for yearly revenue of $20M.• Managed all AP and AR processes and vendor/customer relationships.• Calculated and filed revenue, sales and use tax payments for PA, NJ, DE, MD, NY, & various local municipalities. • Maintained relationship with 3rd party accounting firm to deliver year-end… Show more • Reported directly to the owner and managed a $4M/month AR, $3M/month AP, GL, $2.5M Credit Line & $6.5M/year PR.• Analyzed & monitored cash accounts, AR collections & bank reconciliations for yearly revenue of $20M.• Managed all AP and AR processes and vendor/customer relationships.• Calculated and filed revenue, sales and use tax payments for PA, NJ, DE, MD, NY, & various local municipalities. • Maintained relationship with 3rd party accounting firm to deliver year-end financials. • Evaluated annual business insurance policies with the broker for best coverage at the lowest cost.• Processed biweekly payroll, P/R reports, and G/L entries. Handled HR and personnel records for up to 90 employees.• Reviewed Health Care, EAP, and 401(K) benefits for cost effectiveness and value to employees.• Supervised and trained employees on accounting software. Achievements:- Facilitated effective collection procedures increasing cash flow and lowering DSO from 60/90 days to an average of 45 days.- Developed AP procedures for the collection and entry of vendor information and monitored the value of services, resulting in reduced costs and generated timely payments.- Implemented ADP Workforce Now Payroll & Time and Attendance programs. Show less

Accounting Courses

Associate Degree, Computer Electronics, Gpa 3.5

Business Administration Focus