Accountic & Bookkeeping
Bookkeeping
- Historical clean up and review of the books including Charts of Accounts.
- Daily recording of transactions for cash, bank, sales, cogs and expense entries.
- Managing complete AP processes on clients (review invoice/ bills, code to GL and attach it with the related transactions as audit support).
- Managing AR processes (generate invoice from QBO, record sale receipts, reconcile to customer remittance reports-rebates/ chargebacks, follow up).
- Recording of payroll costs including deductions as per payroll reports.
- Allocation of expenses between entities for inter company transactions.
- Quarterly Tax Returns – Compiling figures for the different returns as per the respective State rules (Excise, Sales, County tax – as applicable) .
- Vendor/Customer accounts- Review with statements from 3rd parties and resolve differences.
- Preparing and filling 1099s including shortlisting vendors for W9.
- Preparing SOPs for key processes including preparation of flowcharts.
Other services
Bookkeeping
- Setting up new Charts of Accounts or setting up based on type of operations .
- Daily/Monthly recording of transactions for cash, bank, sales and expenses .
- Monthly recording of payroll costs including deductions as per payroll reports .
- Fixed assets review and preparing depreciation schedules .
Reconciliations
- Cash, Bank and Credit Card account with related period statements including review of old unreconciled items.
- Payroll costs- Payroll reports from system along with quarterly tax returns.
- Quarterly Tax Returns – Compiling figures for the different returns as per the respective State rules (Excise, Sales, County tax – as applicable).
- Vendor/Customer accounts- Review with statements from 3rd parties.
- Inter company balances (if applicable).
Month-end close process including reconciliations
- Review of reconciliations performed and recording rectifying journal entries.
- Checking supports of all major transactions for audit purposes.
- Cash, Bank and Credit Card account with related period statements including identification of old unreconciled items.
- Accrual and prepaid accounting including depreciation.
- Recording of month end journal entries.
- Preparation of accounting packs with different schedules to tie out with Trial balance.
- Preparing a consolidated list of material transactions with no supports for audit purposes and communicating it to the onshore team.
- Prepare consolidated financial statements (if applicable).
Historical clean up project
- Accrual and prepaid accounting.
- Review of reconciliations performed and recording rectifying journal entries.
- Preparation of accounting packs with different schedules.
- Checking supports of all major transactions for audit purposes.
- Making books audit ready and assisting in documentation
- Accounts Payable Management/Accounts Receivable management
- Preparing books for tax returns and subsequent tax fillings
- Preparing and filling 1099s including shortlisting vendors for W9
Bookkeeping Software’s Used.
- QuickBooks Online
- QuickBooks Desktop
- Xero
- NetSuite
- Accounting Suite
- Sage
- NAV
Merchandise Portal & Payroll Software’s Used.
- Amazon
- Shopify
- Shopkeep
- PlateIQ
- Bill.com
- Gusto
- Wurk
- Hubstaff
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