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  • Writer's pictureZeritaz Advisors

Rescuing Finances: How Zeritaz Turned Red Flags into Green Lights

Updated: Aug 27, 2023


“Man, we really got lucky finding Zeritaz when we did. If they hadn’t helped us get all our financials and accounting operations in order so quickly, our last round of due diligence would’ve gone terribly. We had a feeling that our previous accounting firm wasn’t doing things exactly right, but we had no idea how bad it really was. Zeritaz identified all kinds of issues, fixed everything, and ultimately enabled my co-founder and I to speak confidently about our financial position and performance during diligence discussions with VC’s. Life savers, for sure!”

- Co-Founder, COO

Company Info

Industry: SaaS

Revenue: ~$400k/annum

Other: Rapidly growing at ~20%/MoM, VC-Funded

Overview & Situation

This engagement certainly did not start as an audit! This client requested us to evaluate some of their accounting processes and streamline them using automated tech tools. Once getting access to their accounting software and supporting work papers, red flags began to fly all over. Their existing accounting firm, at the time, was making material mistakes in how they were building the financials. These issues were very severe and included:

- incorrectly reconciling cash accounts

- ignoring stale balance sheet accounts

- inconsistently posting adjusting journal entries at month-end

- misrepresenting revenue due to a lack of technical understanding working with large data sets

The Zeritaz team immediately brought a list of concerns to the client leadership and was authorized to perform a full operational accounting & financial audit.


The Zeritaz team started this process with a full financial audit. We combed through the Balance Sheet and P&L and developed a list of material issues that needed to be resolved before we could have confidence in the representations of the financial statements. With the leadership team, we began resolving these issues 1-by-1 and building new & improved tools to prove the accuracy of the historical figures and support their operational accounting efforts going forward.


Ultimately, we completely reconstructed their previous 18 months of financials, rebuilt all their operational accounting tools, and replaced the existing firm as the client’s new finance & accounting partner. With the historical issues in our rear-view mirror, we are now building powerful tools to help guide the client’s future!

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