Outsourced accounting

Cash Management

Importing & categorizing bank and credit card transactions, manually entering bills and bill payments, bank and credit card reconciliations, line of credit reconciliation, W-9 maintenance and 1099 reporting, weekly reports on transactions and upcoming bills

Employee Expense Tracking

Entering employee expense reports, confirming reimbursements

Payroll Management

Importing timesheets, process live payroll online, entering payroll transactions into accounting system, reconciling payroll taxes to 3^rd party reports, reviewing payroll liabilities, updating retirement funding transmittals, reconciling PTO and retirement; monthly reports for payroll processing, leave schedules, and retirement funding

Month-end Close

Review and/or reconcile the balance sheet accounts

Determine and analyze discrepancies

Update depreciation schedules

Review income/expense for proper classification

Prepare and post month end closing journal entries

Setting up customers, jobs, and labor categories

Follow up and supervision of bookkeeping

Govcon compliance review (if applicable)

Labor distribution review

Job cost ledger review

Review contract revenue classification

Review for unallowable expense

Calculating indirect cost rates

Communications

Month End Financial Ops Reports

Monthly video conference

Unlimited online support (email)

Automated Accounts Payable

Accounts Receivable

Contract Management

This is an optional package add-on.  These services cannot be added separately to Outsourced Accounting.

Accounts Receivable

Preparing customer invoices according to contract terms via the accounting system or customized in Excel, uploading invoices to WAWF, entering customer payments, monitoring & reporting on collections, reconciling retainers & customer deposits, sales tax exemption administration; weekly reports on invoices, receipts, finance charges assessed, and overdue invoices.

Contract Management

Contract management is available for government and can be tailored for commercial contracts, as well.

Requirements

• Less than $1 million in revenue (or you will have to select a normal virtual CFO tier)
• Online payroll processing using OnPay
• Hosted QuickBooks Premier using a new file
• Must use electronic timekeeping from our Tech Stack
• Bank and credit card data must be importable into QuickBooks

• Client makes bill payments
• Client provides receipts and invoices for all bank and credit card transactions
• Client approves timesheets prior to import into accounting system
• Client prepares invoices
• Client manages contracts