Client Snapshot
Industry:
Design, Development & Construction
Location:
United States & Hong Kong
Engagement Type:
Financial Cleanup, Project Accounting & Revenue Assurance
Scope Coverage:
2021–2026 historical reconstruction and ongoing reporting
Key Highlights
Historical Reconciliation:
5 years of books cleaned and rebuilt
AP & AR Alignment:
100% ledger matching for balance sheet integrity
Contract-Based Billing:
Estimates and invoices aligned to signed agreements
Audit Readiness:
Complete documentation and clean financials
Client Background
A U.S.-based design and development entity managing multiple active construction projects faced persistent financial challenges due to historically inconsistent records. From 2021–2026, gaps in project accounting, billing controls, and balance sheet reconciliations reduced reporting accuracy, limited visibility into project performance and cash flow, and compromised audit readiness.
The client engaged OHI for a comprehensive financial cleanup paired with structured controls to align contracts, billing, receivables, and financial reporting
Business Challenge
Fragmented records, unreconciled balances, and contract misalignment created reporting inaccuracy, revenue leakage risk, and weak receivables control.
Multi-Year Reconciliation Gaps
Bank and credit card balances remained unreconciled since 2021, reducing trust in financial statements.
AP/AR Mismatches and Ledger Integrity Issues
Vendor and customer balances did not match ledger positions, weakening balance sheet integrity.
Contract, Estimate, and Invoice Misalignment
Limited receivables follow-up and missing/delayed finance charges contributed to aged balances and leakage risk.
Limited Visibility and Onshore–Offshore Coordination Gaps
Insufficient process transparency and coordination challenges between teams.
These issues reduced management visibility into project performance and cash flow while increasing audit and compliance risk. A structured reconstruction and control framework was required to restore accuracy and ensure sustainable financial operations.
OHI's Approach & Solution
Historical Financial Reconstruction (2021–2026)
- Performed a comprehensive review and cleanup across a five-year period
- Completed project-wise reconciliation, bank reconciliations, and credit card reconciliations
- Identified and corrected uncategorized and unmatched transactions to rebuild reliable books
AP & AR Balance Validation
- Reviewed open vendor bills and customer invoices to validate outstanding positions
- Verified payment applications and identified missing credits and unapplied transactions
- Aligned AP/AR balances to ensure ledgers reflected actual liabilities and receivables
Contract Review & Revenue Alignment
- Reviewed customer contracts to validate values, billing schedules, payment terms, and milestones
- Realigned estimates and invoices with signed agreements to eliminate billing discrepancies
- Strengthened revenue recognition accuracy through contract-based billing alignment
Finance Charge Implementation & Collection Optimization
- Implemented a 1% finance charge on balances overdue beyond 90 days
- Prepared updated customer statements and initiated structured follow-ups for collections
- Introduced stronger discipline in receivables management to improve recovery cycles
Results & Impact
| KPI | Before OHI | After OHI | Improvement |
|---|---|---|---|
| Financial Records | Inconsistent and unreliable | Fully cleaned (2021–2026) | Complete accuracy |
| Bank & Credit Card Reconciliation | Long-pending differences | Fully reconciled | 100% alignment |
| AP & AR Balances | Mismatched ledgers | Fully matched and validated | Reliable reporting |
| Revenue Recognition | Misaligned with contracts | Fully contract-based | Eliminated leakage |
| Receivables Management | Weak follow-up | Structured and enforced | Faster collections |
| Audit Readiness | High risk | Fully audit-ready | Strengthened controls |
Through a structured financial cleanup and the implementation of robust accounting controls, OHI restored integrity to the client’s records and enabled accurate project-level reporting, contract-aligned revenue recognition, improved cash flow visibility, and audit-ready financial statements.
“OHI transformed our financial records from fragmented and unreliable to structured and audit-ready. We now have complete clarity on our projects, receivables, and overall financial performance.”
U.S.-Based Design & Development Company
CFO
Restore financial accuracy and eliminate revenue leakage across projects
Rebuild historical books, reconcile balances, align billing to contracts, and enforce collections discipline with audit-ready documentation.
