CPA recommendation/cost to convert cash financials to accruals for SBA deal

lender profile

June 19, 2025

by a lender from University of Southern California in Los Angeles, CA, USA

Hi SF community, Our client is under LOI for a seasonal construction & service business. We have a SBA lender that has offered a very attractive term sheet but underwriting needs us to convert three years of cash-basis books###-###-#### to accrual for SBA underwriting. The seller does not use Quickbooks and maintains paper records. Tax returns are done on cash basis. Scope is straightforward: • Accural 2022, 2023, 2024, 2025 YTD P&L/BS • CPA letter confirming financials are accurate based on records provided by seller • Quick turnaround (within 1–2 weeks) Looking for referrals to a CPA or experienced bookkeeper who has done this before (SBA or QoE experience a plus). Please DM with: 1. Brief background / credentials 2. Estimated fee and timeline Has anyone done something similar. The seller will reimburse us for this expense but we are trying to get this done fast and affordably. A full QOE has already been done and we just need the CPA can convert the financials for us. Recommendations or cost estimates would be greatly appreciated.
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Reply by a professional
from Brigham Young University in Salt Lake City, UT, USA
Was the QoE done on cash basis or did they convert to accrual for their report? If no conversion to accrual has been done yet, this is a very large project. I would be very surprised if the CPA firm you end up hiring can accomplish this in less than 2 weeks, especially considering it's going to take a lot of back and forth communication with the owner. I'm not saying this to be a negative Nancy. I would just set your expectations that it's going to be expensive and most likely take longer than you're currently expecting. I hope you can find what you're looking for though!
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Reply by a professional
from Northwestern University in Chicago, IL, USA
Hi Fidela, I’m happy to chat! Please reach me out at redacted
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