Practices

  • Debt Finance Transactional
  • Asset Finance & Securitization
  • Capital Markets Corporate Governance Mergers & Acquisitions Private Equity Restructuring

Admissions & Qualifications

  • 2008, Maryland Bar
  • 2009, District of Columbia Bar

Languages

  • English
  • Chinese (Mandarin)

Education

  • University of Maryland School of Law, JD, 2008
  • Georgetown University School of Foreign Service, BS, 2004

Eric Maurice Fung, Esq.

Partner | Attorney

efung@bandicoot.us

Minneapolis, MN | Taipei, Taiwan

Eric Fung is a founding partner of Bandicoot, and serves as the managing partner for our Taipei office. Eric started his career in law, practicing corporate finance, mergers/acquisitions, and energy law at Constellation Energy Group, DLA Piper US LLP, and Dickstein Shapiro LLP. In 2011, he became an entrepreneur completing a leveraged buyout of a 37,000 square foot supermarket and in-store restaurant in Minneapolis called United Noodles Marketplace.

During his tenure, he successfully accelerated his businesses to sustained growth. His financial acumen and skill in developing high-performing teams resulted in a 350% growth in sales from 2011 to 2020. He also opened other successful business units and locations, including a Woodbury location and a wholesale division. In 2015, he was named one of Minnesota’s “40 Under 40” for his leadership at United Noodles.

In order to solidify the financial health of his companies, Mr. Fung also developed sophisticated bookkeeping, accounts payable, and other workflow systems that eventually led to his becoming a partner of the Minnesota accounting firm AccountPro LLC. In 2019, it merged with and was rebranded as bandicoot LLC, and has over 80 clients.

Eric has a passion for talent development, and driving diversity in both teams and thought. He is an innovative, entrepreneurially-minded leader, who leads with a long-term view on vision and strategy.

In his spare time, Eric loves cooking, working out, and playing Smash Bros. with his nine year-old son. His most firmly held belief is that every dog is The Best Dog.



AUTOMATION

Pooled Tip and Payroll API

PAYROLL SERVICES




the challenge

Our restaurant client wanted to calculate pooled tips received by all employees to be divided by the ratio of employee’s total hours worked. The pooled tips would be held by the employer until semi-monthly payroll was processed.



Calculating pool tip (collecting all or part of the tips received by employees into a pool, which is then redistributed, often by the employer, among tipped employees.) efficiently, accurately, and fairly depending on the number of hours employees worked.


Calculating pool tip (collecting all or part of the tips received by employees into a pool, which is then redistributed, often by the employer, among tipped employees.) efficiently, accurately, and fairly depending on the number of hours employees worked.


the workflow

We made an automation that not only calculated pooled tips based on the number of hours each employee worked, we also automatically calculated whether the sum of previous payroll period and the current pay period exceeded 40 hours—eligible for overtime in this jurisdiction.





in conclusion

Despite the fact that tips are the sole possession of the employee, employers still bear the primary burden of accurately calculating, dispensing, and reporting tips. Bandicoot creates tip pools and other customizations to fit the personalized needs of each company.