LIVE ACCOUNTING GOLD PACKAGE
Communication & Meetings
Regularly scheduled phone & in person meetings
Accounting Setup & Strategy
Free 1 hr consultation: ● Review client needs and concerns ● Discuss service packages
Paid follow up visit to examine & create printed report on following: ● accounting software ● bookkeeping practices ● assessment of back work or cleanup work to be performed ● enrollment for package that best fits the client’s needs and goals. (Paid follow up fee will be waived if enrollment completed)
Ongoing consultations and guidance of client's financial responsibilities (not to be confused with training)
Perform back work or clean-up work (Amount of back work differs based on whether your business is new business (6mo or less) or an established business (7mo or more) additional transactions negotiated per client)
Basic Processing
A/P Vendor Bills
Enter bills & schedule by due dates for payment in accounting software
Set up memorized transactions for auto bill pay
Set up auto payments and send client update
Send client reminders ● when bills due ● time to print checks ● dates auto payments coming out of bank (if we have client checks we will pay bills once approved by client)
Post all manually written checks, ATM/debit transactions from bank statement
Credit Cards
Post credit card transactions from monthly credit card statement & reconcile outstanding balance
Employee expense reimbursements (client responsible for receipts & verification of expense claim prior to payment)
Pay credit card or if set up on auto pay – record payment
Enter expense claims approved by client in as bills and pay with A/P check runs or auto pay
Accounts Receivable
Customer Tasks
Create & issue invoices from information provided by client
Enter invoices issued by client into accounting file
Create & issue monthly statements of accounts based on client's internal policy for issuing statements
Create & issue credit memos based on client's internal policy for issuing statements
Apply client’s customer payments to appropriate invoices
Notify client of aged accounts greater than 30 days
Manage client's aged accounts: ● contacting the customer on their behalf ● issuing (past due) reminder letters ●making notes in accounting file, etc. - Not in Gold Package
Customize invoices & sales order
Cash Receipts
Post cash receipts/deposits
Prepare monthly reconciliation of bank statement for each cash account
Process transfers between cash accounts on behalf of client
Prepare deposits for client - Not in Gold Package
Payroll (if client is using another payroll service)
Post payroll or payroll journal entry provided by your payroll provider
Reports
Standard system reporting packages including: ● Profit & Loss ● Balance Sheet ● Unpaid Bills Report ●Accounts Receivable Aging, etc
Custom reporting packages to meet clients needs (updated quarterly or monthly) - Not in Gold Pkg
Special analysis provided by CPA/Financial analyst once annually - Not in Gold Package
Work with client to prepare Operating Budget & Yearly Cash Flow
Weekly 4 week rolling cash flow report
Weekly 6 week rolling cash flow report - Not in Gold Package
General Ledger Services
Regularly scheduled closing of the books (includes basic pre-payment, tracking & allocation journal entries) on monthly, quarterly, and annual basis
Preparation of county personal property tax returns
Record depreciation and asset disposals - Quarterly
Record Fixed Asset purchases post to correct GL account
Annual workers comp report & reconciliation to payroll
1099 Service
Throughout year work w/ client to obtain vendor information needed to issue 1099s- Not in Gold Pkg
Prepare annual 1099-MISC, 1096 and other forms required to be issued on behalf of client (January)
Annual Tax Package, Compilation, Review, or Audit Preparation
Prepare & forward to client's CPA annual tax package that meets CPA requirements
Work with client's CPA to answer any questions about accounting reports and/or file
Record final adjusting entries prepared by client's CPA into accounting file & perform final tie-out of account balances for year
Facilitate & prepare all information needed for CPA or financial analyst to prepare annual financial review for client - Not in Gold Package
Payroll Add on: All payroll tasks and quarterlies includes Employee files: I-9's; W-4's
HR: Workplace Posting Compliance
Basic Accounting Software Setup and Training includes:
Install software and setup basic system for use
Chart of accounts
Review company preferences for things we want to use
Assist with template to set up items/ products/ services
Make sure fixed asset template is set up & specs on how to use it
Set up checking account auto feature if available
Set up credit cards auto fill in & define how to use it
HR: Workplace Record Keeping Compliance, Facilities Support
Personnel Support, Benefits Administration, & Documentation Support - Not in Gold Package
The above services represent this package only and are not a complete list of our services.
Additional packages are available. We also offer custom packages.