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Package Pricing Terms

Bookkeeping By Professional Packages are quoted on an individual basis to meet the specific needs of your business. The pricing will be reviewed after the first 90 days and going forward on an annual basis

Invoice Terms

Bookkeeping By Professional will submit an invoice the first week of the following month which is due for payment within 5 days. Any charges remaining unpaid after 5 business days will be charged to your card on file.

Setting up Chart of Accounts

A financial organizational tool which provides a complete listing, by category, of every account in the General Ledger. It is used to organize finances and give a clear view & understanding a company’s financial health.

Keeping Transactions up to Date

Keeps your company information current and organized, allowing information to be easily found and assess the financial integrity of your business.

Bank Account & Credit Card Reconciliations

Ensures the recorded balance of your business and the recorded balance of the bank and/or credit card(s) match. This helps manage and monitor cash flow.

Cash Drawer Reconciliation

Optimally, this should be done on a daily basis. Doing this on a daily basis helps reduce the pain of tracking down discrepancies. Inappropriate handling of cash is one of the leading causes of theft or loss.

Payroll Entry and Payroll Liability Reconciliations

Payroll is out sourced to a Payroll Company, which assumes responsibility for compliance rules set forth by the state, federal government & other governing agencies. Reports are then downloaded and confirmed that amounts match to ensure payroll expenses are recorded properly. This will help with tax preparation and allow you to monitor your payroll expenses.

In-House Payroll

Payroll is done “in-house” and company assumes responsibility for compliance rules set forth by the various governing entities.

Accounts Payable Management

Proper tracking of Accounts Payable allows you to track and monitor expenses your company owes to vendors and suppliers; which in turn, allows payments to be made on time, early payment options are facilitated and ensures strategic use of budget dollars.

Accounts Receivable Management

Proper tracking of Accounts Receivable helps maintain a healthy cash flow. Your business’s future is based on incoming cash, avoiding delays is paramount to your success.

Creating Procedure for Collection of Receivables

Setting a protocol for continued improvement of collecting monies due to you.

Maintaining Vendor W-9s

A W-9 is requested from independent contractors for their taxpayer  identification number, whether it is a TIN or individual’s SS number. This information is necessary for end-of-year 1099’s which must be reported to the IRS. It is important to keep this information in a secure location.

Maintaining Employee Records in a Secure Location (W-4s, I-9s)

These records contain sensitive information, much of which needs to be kept confidential.

Monthly Reports

These reports enable you to track past and present performance of your company and assist in making informed business decisions.

Filing of Sales Tax

If you are registered for sales tax in a state, then you are required to submit a Sales Tax Return for that state, even if the amount is $0.

End of Year Reports, Including Comparison Reports for Review and Forecasting

These reports enable you to track past and present performance of your company and assist in making informed business decisions.

End of Year Consultation with CPA

Provides useful information to plan for the upcoming year, evaluate last year’s performance, and to determine tax implications and financial impact on your company.

Bookkeeping Cleanup

This can be lengthy and time consuming if records have not been kept or records have not been kept current. Current and accurate records are critical for a company’s success and compliance with government entities. They are also important for your tax advisor to determine tax implications. It can also identify inaccurate,  unauthorized entries, or other irregularities in your company’s financial records.

Creating Budgets

A budget makes it possible to plan for anticipated costs and income, helps to prevent overspending, and ensures expenses are covered. A good budget aids in being prepared for emergencies, setting goals, paying off debt, tax preparation and making financial
decisions.

Inventory Set Up & Tracking

Inventory management is fundamental to generating revenue so you can have the right amount of stock to meet you customers’ needs.

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