Full Accounting Department

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.

Service 1:
Full Accounting Department.
Company Profile:

• Accounting Type: Accrual Basis Reporting
• Staff Supplied: 
  CPA/Controller & Full-Charge Bookkeeper, & Accounting Software Specialist
• Clients with sales between $1-50 million
• Daily Accounts Payable, Accounts Receivable, Banking & Payroll maintained
• GAAP Financials
• Provide Accrual Basis Reporting (including prepaid expenses, accrued expenses, accrued payroll, deferred revenue etc.)

Service 2: 
Bookkeeping Service.
Company Profile:

• Accounting Type: Cash Basis Reporting
• Staff Supplied: Controller Oversight & Bookkeeper
• Clients with sales between $500,000 & 2 million
• Daily Accounts Payable, Accounts Receivable, Banking, & Payroll maintained
• Cash Basis Financials

Client Specific Needs

Accounts Payable Management & Banking

• Record vendor bills
• Record vendor, debit card, PayPal & electronic payments
• Reconcile vendor statements
• Accounts Payable Aging Report

Accounts Receivable Management

• Create sales invoices/Import sales invoices
• Email/ Mail customer invoices
• Mail monthly customer statements
• Apply Finance Charges
• Sales Commissions
• Accounts Receivable Aging Report

Payroll Management

• Record Payroll / Payroll Taxes / Payroll Fees
• Employee Activity
• Create Employee Records
• Update Employees Records
• Commission calculation if applicable
• PTO
• Track Employee Advances

Sales & Use Tax Returns

• Sales Tax Tracked Within QuickBooks
• Maintain up-to-date sales tax rates
• Quarterly Return
• Multiple Filing Jurisdictions (State, County and Cities)
• Prepare and file Sales Tax returns

Included in Full Accounting Department Service.

A La Carte Services for - Bookkeeping Service

• Foreign Banking Management
• Purchase Orders Management
• Sales Orders
• Prepaid Expense Management
• Accrued Expense Management
• Deferred Revenue Management
• Fixed Asset Management
• Inventory Management
• Class Tracking
• Work In Process (WIP)
• Job Costing
• Budgeting
• Forecasting
• Tax & Audit Support

Monthly: 
→ Prepare Bank Account Reconciliations
→ Record Individual Credit Card Purchase Transactions 
→ Prepare Credit Card Reconciliations 
→ Maintain Vendor W-9 Information

Financial Reports: 
→ Balance Sheet 
→ Profit and Loss Statement – Month
→ Profit and Loss Statement – Year-to-Date
→ Cash Flow Statement 
→ Accounts Receivable Aging 
→ Accounts Payable Aging 
→ General Ledger 
→ Bank Reconciliation Report 
→ Credit Card Reconciliation Report

Your Full-Charge Bookkeeper

Your full-charge bookkeeper is responsible for daily entry of accounting transactions – vendor bills, customer invoices, bill payments, customer payments and deposits, and other disbursements and withdrawals. The bookkeeper maintains complete and up-to-date detailed Accounts Receivable, Accounts Payable and cash account ledgers and provides daily or weekly reports on these and other critical areas of business management. The 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 tax and other payroll expenses, and payroll liabilities. Click here for full details on daily bookkeeping activities.

Your Controller

Your controller conducts a periodic review of your general ledger with the bookkeeper to ensure all activity is posted correctly and that any necessary cash to accrual or income recognition adjustments have been made. The frequency of the review depends on the level of controllership services you select, but at minimum the review will take place monthly. After each monthly review, the controller issues financial statements and locks your accounting data file for the period so that no data can be changed after the reports are issued without the controller's full knowledge and permission. The controller then distributes the financial reports package for the month to designated personnel at your company. Monthly or quarterly, this report package will include a management letter explaining the significance of your financial reports and calling your attention to critical business ratios and areas of concern, and an invitation to meet with the controller for a thorough review and discussion of your financial reports. Follow the link for more information on controllership service levels.

What are some of the Controller's roles at AccountingDepartment.com?

1. Supervise and review bookkeeper
2. Review of the Daily Status Report (DSR) sent by bookkeeper
3. Conduct monthly appointment with bookkeeper to close the books
4. Produce timely/accurate financial statements and management reports
5. Ensure all revenue earned during the period has been recognized, as well as the associated expenses
6. Provide Accrual Basis Reporting (including prepaid expenses, accrued expenses, accrued payroll, deferred revenue)
7. Reconcile all Balance Sheet Accounts
8. Provide Financial Dashboard Maintenance
9. Provide Phone Consultation

Your Accounting Software Specialist

Your accounting software specialist ensures that your accounting data file is set up correctly to fit your business model and to provide the reporting functionality your business requires, and that your bookkeeper is fully trained in how to process activity appropriately in your accounting file. Although we specialize in QuickBooks® and QuickBooks Enterprise Solutions® accounting software, we can provide specialists in other packages such as BillQuick, Method, GHG Corporation, Connect+wise, Fishbowl Inventory, PDG Software & WebKPI if QuickBooks does not meet your needs.