Rebuilding a Multi-Entity Financial System: The Brazos Safety Systems Cleanup Story

Brazos Safety Systems, based in Fort Worth, Texas, is a leader in aviation safety technology and analytics, specializing in data-driven insights and analytics that enhance flight safety.

When Brazos Safety Systems acquired another company in early 2025, its financial system quickly became overwhelmed. What was once a straightforward bookkeeping environment suddenly became a complex, multi-entity structure involving U.S. and Australian operations, multiple currencies, GST obligations, and years of inconsistent financial treatment.

By February 2025, Kingsley Umeh stepped in as Vice President and inherited a financial system that simply wasn’t reliable. The Balance Sheet was inaccurate, partner contributions were unclear, and GST was being mistakenly recorded as revenue, inflating income. Nothing tied together cleanly, and tax-season planning became nearly impossible.

We were struggling with inaccurate balance sheets, misclassified GST, and months of unresolved reconciliations after merging two companies. Stellify stepped in, uncovered the root issues, and completely rebuilt our financial structure. Today, our books are clear, accurate, and finally aligned with how the business actually operates.

Kingsley Umeh, Vice President of Brazos Safety Systems

Project Objectives

Rebuild Financial Accuracy:
Correct long-standing inconsistencies in the Balance Sheet, including partner contributions, owners’ equity, and historical opening balances.
Complete Bank & Credit Card Reconciliations:
Conduct a thorough bank reconciliation to match each transaction, identify discrepancies, and enhance accuracy in financial records.
Correct GST & Multi-Currency Handling:
Fix the misclassification of GST that was recorded as revenue, ensure proper posting to GST Payable (AUD), and implement accurate AUD–USD foreign exchange procedures.
Clean Up Accounts Receivable & Accounts Payable:
Match customer invoices and payments, reconcile aging schedules, and resolve discrepancies related to major accounts

Rebuild QBO Structure & Chart of Accounts:
Fix the misclassification of GST that was recorded as revenue, ensure proper posting to GST Payable (AUD), and implement accurate AUD–USD foreign exchange procedures.

Restore Payroll Integrity:
Recover missing payroll entries caused by the Rippling disconnection and ensure accurate payroll liability treatment

Workflow and Approach

1. Comprehensive Diagnostic Review
We began with an in-depth assessment of the existing QuickBooks Online file, identifying errors in banking, equity, GST handling, AR/AP balances, foreign currency treatment, and payroll integration. This diagnostic created a clear roadmap for the cleanup.

2. Bank and Credit Card Reconciliation
Next, we reconciled all available bank accounts (Frost, NAB AUD, Mercury) and rebuilt the credit card workflow. Duplicate entries were removed, missing transactions were recreated, and all activity was matched to statements through September 2025

3. Multi-Currency and GST Correction
We restructured the Australian revenue cycle by:

Moving GST from revenue to GST Payable (AUD)
Correcting ATO payments to reduce liability
Setting up AUD-specific customer profiles
Allowing QBO to calculate FX gains/losses accurately

This eliminated revenue overstatements and restored tax compliance

4. Accounts Receivable and Accounts Payable Reconstruction
We repaired aging schedules, uploaded and matched invoices, and resolved long-standing discrepancies with key accounts. Historical matches were traced through audit logs and bank activity.

5. Equity, Loans, and Intercompany Adjustments
All equity accounts were standardized into Paid-In Capital. Opening Balance Equity was analyzed and reclassified, and intercompany transfers were reviewed to ensure proper treatment without affecting income or expenses.

6. Payroll Integration Restoration
After identifying missing payroll entries due to a Rippling sync failure, we mapped out payroll reconstruction steps and requested accountant-level access to reestablish accurate monthly payroll entries and liabilities.

7. Quality Review and Documentation
Throughout the project, we provided Loom walkthroughs, weekly updates, and detailed reconciliation notes. All adjustments were documented to maintain a strong audit trail and prevent future inaccuracies.

8. Recommendations and Future Controls
We guided the client on best practices going forward, including connecting the NAB AUD account directly to QBO, standardizing invoice workflows, and maintaining consistent FX treatment to avoid future discrepancies

Key Results

To show the depth of transformation achieved during this project, here’s a concise comparison of Brazos Safety Systems’ financial condition before Stellify stepped in and the results achieved after the cleanup.

Before Stellify	After Stellify
Unreliable Balance Sheet with incorrect equity, partner contributions, and opening balances	Clean, accurate Balance Sheet with consolidated equity and corrected historical balances
GST recorded as revenue, overstating income	GST correctly tracked as a liability (GST Payable), restoring accurate revenue reporting
ATO payments booked as expenses	ATO payments reclassified to reduce GST liability
Bank accounts unreconciled for months	All bank accounts reconciled up to available statements (through Sept 2025)
Daily credit card payments appearing only as withdrawals, no liability tracking	Proper credit card liability workflow established; bank withdrawals correctly matched
AR/AP aging inaccurate	Rebuilt aging schedules, matched payments, and resolved or explained all discrepancies
Inconsistent multi-currency handling; AUD revenue inflated due to incorrect FX treatment	Accurate AUD customer setup, automatic FX gains/losses applied, multi-currency workflow standardized
Missing payroll entries after Rippling sync failure	Payroll reconstruction plan established; integration prepared for reconnection
Multiple confusing equity accounts across the Balance Sheet	All equity streamlined into Paid-In Capital for clarity
Client unsure whether to clean up QBO or restart from scratch	System fully cleaned, stabilized, and ready for automation and growth

Conclusion

This project provided Brazos Safety Systems with a fully restored and reliable financial foundation after a complex multi-entity merger. By resolving long-standing inaccuracies, correcting GST treatment, and rebuilding their accounting structure, we delivered the clarity and stability their leadership needed. With accurate books and streamlined processes in place, Brazos can now focus on strategic growth rather than troubleshooting financial inconsistencies.

Kingsley Umeh, Vice President of Brazos Safety Systems

What Our Clients Say About Their Experience

Partnering with Stellify Accounting Services came at a critical time for us. After merging two companies, our financial records were inconsistent, our Balance Sheet was unreliable, and GST was being recorded incorrectly. Stellify methodically untangled every issue — from reconciliation gaps to equity adjustments and multi-currency challenges. Today, our financials are accurate, organized, and fully transparent. Their attention to detail and commitment to restoring clarity has been invaluable. We now feel confident in our numbers and can focus on running and growing the business.

About Us

With years of experience and a commitment to integrity, we provide reliable and transparent accounting services that help businesses thrive