AccountingDepartment.com selects a dedicated team of accounting professionals to staff an accounting department tailored to suit your business needs. This team consists of a full-charge bookkeeper, an accounting software specialist, and a controller. Additional accounting staff can be added as required based on your business activity.
Get your invoices out promptly and send monthly statements on the date of your choice.
We offer two options:
Whether we prepare your invoices for you or you generate them yourself, your AccountingDepartment.com bookkeeper can print and mail or email customer invoices and statements on your behalf.
Accounts Receivable reports for collection and cash flow management are prepared and delivered to you on a schedule of your choice. Finance changes are assessed on overdue invoices based on your company’s payment terms and conditions, and statements can be initiated and transmitted on a schedule of your choice.
Invoices you receive from vendors will need emailed automatically to your AccountingDepartment.com bookkeeper. Invoice that we can’t obtain online will need to be scanned to us. If you need a scanner we provide a scanner at no cost.
That’s it! You're done! Your vendor invoices for the day are on the way to your AccountingDepartment.com bookkeeper for recording into your accounting file.
On a schedule determined by you, your AccountingDepartment.com bookkeeper will email you a report of all open vendor invoices. Just indicate which invoices you want paid, and then email the report back. Your bookkeeper will set up the requested bill payment checks in your accounting file.
Once the checks are ready to print, we offer two options for printing:
Prior to taking deposits to the bank, you will scan the deposit slip and each of the items to be deposited. Then create an email and upload the file at your convenience. Your AccountingDepartment.com bookkeeper will post the customer payments against the appropriate customer invoices and record the bank deposit.
Your AccountingDepartment.com bookkeeper either processes payroll or makes the necessary entries to record payroll processed by a third-party provider. In either case, payroll entries will include complete recording of gross wages, employer taxes and other payroll expenses, and payroll liabilities, and quarterly and annual reconciliation of general ledger balances to payroll returns. If needed, your bookkeeper can also initiate transfers from your operating bank account to your payroll bank account to cover payroll if these accounts are held by the same bank. See more information about this under Banking Activities.
We do recommend direct deposit of employee paychecks whenever possible.
Your AccountingDepartment.com bookkeeper will have access to view and download transaction history and bank statements, and, if desired, to transfer funds between business accounts at your bank. Your bookkeeper will not have the authority to sign checks or to initiate electronic payments that have not been pre-approved by you or a designated staff member.
Bank account activity is updated daily in your accounting file, so that you always know your available cash balance. Transactions that appear in your bank account that the bookkeeper has no knowledge of will be posted, but the bookkeeper will inform you of these transactions and request supporting information by email. Bank account balance notifications and cash receipts and disbursement reports can be emailed to you daily, weekly, or monthly as desired.
Banking, credit card, and loan accounts are reconciled to the corresponding statements each month, and the reconciliation reports are emailed to you promptly. When emailing the reconciliation report, the bookkeeper will call your attention to old outstanding items that require resolution and will also provide a list of any missing check numbers for security and control purposes.
Your AccountingDepartment.com bookkeeper will prepare required business returns such as sales tax, business license tax, personal property tax, and various industry specific tax filings. Your bookkeeper will either file these returns electronically upon approval, or email the completed tax forms to you for signature and mailing. All such filings are reviewed and approved by your AccountingDepartment.com controller before being submitted to you for final approval.
Reconciling your business checking account each month allows us to keep your bank account, accounting, and taxes up-to-date. Having us reconcile your account each month allows you to...
An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period. An income statement allows you to...
Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.
The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.
Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept in tip top shape.
Your AccountingDepartment.com Controller is there to help you contain costs and increase profitability. This is done through a variety of measures. We are here to help you grow your business. We strongly feel that your success is our success!
