Bookkeeping
Daily general accounting functions including:
- Daily wire, deposit and merchant services posting
- Daily Customer Invoice and Billing, Payment/Recurring Payment Processing
- Daily entry of receipts into General Ledger and creation of any receivable items, maintenance of all GL customer accounts
- Accounts Payable and Vendor Management
- Merchant Services – Credit, Debit processing with GL interface
- Fixed Asset Management and Depreciation Maintenance
- Daily reconciliation of incoming cash items with GL and receivable accounts
- Daily entering of any payable items necessary to reconcile incoming cash
- Day end reporting of closing cash balances
- Currency Conversions
Month-end closing and financial reporting including:
- Bank reconciliations
- GL account reconciliations
- Account Receivable reconciliations
- Customer account reconciliation
- Prior Period reconciliation
- Journal Entry postings and accruals for taxes, distributions, etc.
- Reporting of payments not received and/or write off’s
- Preparation and delivery of Draft and Final Monthly Financial Reports
- Redundant maintenance of all financial reporting, reconciliation and back-up
Full support for annual external audit including:
- Engagement consultation
- Audit conferences and data/document preparation and delivery
- Communication and support with external auditors
- Research and reporting
- Entry of any necessary adjusting items
Year-end IRS reporting (or other foreign tax reporting entity)
- 1099’s and 1098’s as necessary
Financial Review and Ad-hoc reporting
- Additional services and consultation as necessary to support client’s financial performance internally as well as with associated partners and other venture partners, if any
Human Resources/Payroll
- Salary/OT/Commission/Bonus Calculation and reporting
- Payroll processing and delivery with direct interface to general ledger system
- On-line paystub delivery to employees
- IRA/401k reporting and accounting/remittances to provider
- On-boarding of new employees as well as necessary terminations
- Benefits coordination and communication
- Liaison between Client’s employees and benefits providers
- Customizable Employee Handbook Templates
- Background checks and employee licensing/eligibility monitoring
- Affordable Care Act (ACA) Compliance and monitoring