Established in 1890, C.G. Bretting Manufacturing Company, Inc., is a leading international manufacturer of paper-converting equipment including napkin folders, tissue re-winders, and specialty machinery. Family owned and operated and located in Ashland, Wisconsin, the company is under the fifth generation of ownership and management.
Situation
When the manufacturer’s accounting manager of 15 years submitted two weeks’ notice, the company’s CFO called on Wipfli for prompt assistance in whatever capacity was possible. Not only did the manufacturer need to maintain its accounting function, but it also had confidentiality concerns about passing along sensitive information to potential in-house resources.
Strategy
Wipfli provided the manufacturer with an interim accounting manager, Scott Wegner. Wegner hit the ground running as an extension of the manufacturer’s internal staff. He worked alongside the departing manager during the brief two weeks to explore how the company’s systems and processes were set up.
As a result, Wegner developed key documentation to record various tasks and responsibilities, and critical timelines and deadlines. Then for nearly five months, Wegner worked two to four days a week supporting the manufacturer’s accounting functions without interruptions. Among the responsibilities:
- Reported sales and use tax
- Reported payroll
- Generated monthly financial statements
During the five months, Wegner established a schedule of due dates for tax deposits and filings. He also modified and enhanced the company’s financial statements by changing formatting and simplifying the structure. As he worked through various processes, Wegner adapted the master document so it could be used as a starting tool for the new incoming accounting manager. Wipfli also helped screen applicants for the vacant position and provided training.
Benefits
C.G. Bretting Manufacturing Company, Inc. received quality assistance on very short notice—and the peace of mind that came with it. With Wipfli’s fast, interim assistance, the manufacturer continued to produce important monthly financial statements and could provide ongoing information to management and outside parties as needed. The company was also able to limit in-house exposure to its sensitive and confidential information while maintaining proper internal controls. In addition, with a master document in place, the new accounting manager was able to confidently walk into the position with an organized system securely in place.
