Tonnesen Accounting Services is a leading QoE firm for the SMB market, completing over 25 QoEs per month. They charge $7,500 for a full scope QoE for SBA-sized deals, and they will walk you through their product, process, and background on a call prior to committing to an engagement.
QoE / Financial DD
Full-scope Quality of Earnings analysis for SBA-sized acquisitions. Tonnesen reviews financial data to reveal the true earnings picture, identify hidden pitfalls, and help buyers negotiate a fair price. Drawing on experience from 300+ business acquisitions analyzed from the buyer's perspective.
QoE / Financial DD
Financial preparation services for business owners planning to sell. Tonnesen leverages experience from analyzing 300+ acquisitions from the buyer's perspective to help sellers organize financials, resolve discrepancies, and present clean books that maximize sale price and deal success.
Based on 6 buyer reviews
“- The questions posed to the sellers were batched and didn't add a lot of noise to them. - The rigor was high so I felt pretty confident in their analysis of the various reconciliations. - Unexpected findings were dug into so that they could be explained properly. - They have high standards and only accepted a very small % deviance as acceptable which I liked. - The QoE worksheet was clear and post QoE walkthrough was helpful for understanding the details better -”
“More time walking through the findings would've been appreciated but not a big deal since report was clear. I'm sure if I had asked for it, they would've been happy to offer it as well, so this is mostly on me.”
“I have used them for QoE analysis as well as CPA advisory for various questions I had (e.g. S corp election, cash flow recommendations, debt paydown strategy and so on) and they've been quite helpful for both sets of work.”
“Joshua’s biggest strength was his thorough, independent validation of the seller’s numbers and addbacks. He did not just accept the recast at face value. He tied items back to source data, flagged gaps, and clearly explained where SDE was overstated, including property taxes under the NNN lease, and expenses related to the owner's hobby activities. That directly impacted my deal by giving me a more realistic view of earnings and risk. He was also very clear and practical in communication. He walked me through the findings, quantified the impact by year, and highlighted the TTM decline so I could factor it into valuation and negotiations. Joshua was the key person I worked with and was consistently responsive and detail oriented.”
“Buyers should make sure the seller and their team understand that Joshua’s information requests are time-sensitive and essential to the deal. Set the expectation early that QoE is a critical part of the transaction, even if the seller does not initially see its importance. Prompt, complete responses make the process far smoother and maximize the value of his work.”
“Josh was great to work with. He did a thorough job. He and his team answered all of my questions and I would definitely use them again next time through.”
“Nothing.”
“Anyone considering a SMB acquisition.”
“Josh provided a timely and thorough assessment of the target business by interfacing directly with the sellers. Understanding of the critical timing during due diligence, Josh completed his work well within the estimated timeline (even during the busy holiday season). Even after completion of my QoE, Josh has made himself available for follow-up questions and advisement as I move my deal along.”
“I would HIGHLY recommend Josh for your Quality of Earnings analyses, and his partnership has been critical to progress I have made on the acquisition of my business. I will continue to work with Josh as needed moving forward!”
“I engaged with Josh and his team after being referred from a broker who had worked with them on another deal and was effusive in his praise for their professionalism and the quality of their work. While my deal was ultimately canceled in diligence, they demonstrated that same professionalism, thoroughness, and responsiveness that the Broker had mentioned. Additionally, for the extensiveness of their work product, it is an incredibly cost-effective solution they are providing. I would highly recommend working with them.”
“Nothing to note”
“Any independent sponsor or self funded searcher who needs to perform accounting or QOE efforts”
“Joshua was very responsive and truly a part of our team and had our best interests in mind at all times. Easy to reach, easy to talk to, always willing to help with any questions.”
“Best for business acquisitions and acquisition entrepreneurs who need a professional deep look at financial performance.”
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