A FULLY OUTSOURCED ACCOUNTING SYSTEM

General Ledger Procedures

• Set up and maintain the Chart of Accounts
• Prepare monthly work paper details
• Prepare and post monthly journal entries
• Generate General Ledger and Trial Balance Reports
• Prepare monthly, quarterly and year-end internal financial statements
• Perform monthly, quarterly and year-end closings

Cash Procedures

• Report daily bank balances
• Prepare and execute intercompany wire transfers
• Prepare daily bank deposits
• Scan in copies of all payments received for you
• Prepare bank reconciliations on a monthly basis

Accounts Receivable

• Prepare all invoices
• Post the invoices to the accounts receivable ledger
• Record and account for all revenue transactions
• Apply the cash received to customer accounts and resolve any “shorts Pay” situations
• Handle all Credit and collections procedures
• Prepare and issue all customer statements
• Issue client approved credit memos and refund checks
• Process client approved adjustments
• Maintain standard pricing information
• Prepare monthly accounts receivable aging reports.
• Provide quarter and year to date client billing and gross profit margin reports
  

Fixed Assets Accounting/Management

• Classify all equipment purchases and properly capitalize or expense the purchases
• Record all capitalized fixed asset lives
• Calculate and record monthly depreciation
• Account for write-offs or value adjustments
• Maintain depreciation schedules for book and tax purposes
  
  

Accounts Payable

• Receive purchase orders and other client purchase documents
• Match purchase order to vendor invoices
• Verify that prices and quantities from the invoices match all supporting documentation
• Resolve any price and quantity discrepancies based on client’s supporting documentation
• Receive proper approval for all invoices
• Enter client approved invoices into the accounts payable ledger
• Post all invoices
• Process other client approved charges
• Prepare bi-weekly payment registers for approval
• Select and print checks and electronic payments
• Prepare all checks for release to vendors
• Maintain files to support invoice processing
• Prepare any voids and reissue client-approved checks, drafts, electronic payments
• Respond to vendor inquiries about payments status
• Maintain files of client approved payments
• Retrieve copies of payments as necessary
• Prepare monthly aging reports
• Process client-approved requests to stop payments
  

Travel and Entertainment Processing

• Set up travel and entertainment polices
• Recruit a company travel agency
• Review expense reports to confirm that they follow company guidelines
• Process employee expenses for client’s review and approval
• Enter expense reports into the accounts payable ledger
• Prepare checks and direct deposit payments
  

Other Services

• Provide reconciliation of all inter-company and intra-company transactions
• Handle all bank relations
• Handle all Payroll services

Contact Us