Accounting software set-up tasks include:
·Creating a chart of accounts.
·Establishing invoicing and payment terms, along with down payment and progress
·Enabling sales tax calculations, where applicable.
·Enabling estimates, quotes, sales and purchase orders.
·Setting up “classes” to distinguish product or service categories, and “jobs” to track
projects by client.
·Selecting bill payment methods – checks, debit and credit cards, online bill payment.
·Customizing templates for estimates, quotes and invoices.
·Defining inventory item nomenclature and enter initial inventory holdings.
·Creating client defined reports that will become part of standard monthly reporting in addition to the standard Profit & Loss, Balance Sheet and Cash Flow Statement.
Accounting Focus can provide the following accounting services on a regular basis:
Receiving payments and bank deposits.
Recording and paying vendor bills and employee expense reports.
Making lease and loan payments.
Answering queries from customers and vendors related to invoicing and billing.
- Preparing bank reconciliation.
- Preparing sales tax in all states where client has nexus.
- Monthly reporting, including reports defined by the client
- Recording payroll. *
On an annual basis, we can provide the following services:
- Renewing business license and state registration.
- Preparing business property tax returns.
- Providing year-end financials for income tax preparation.
- Annual income tax preparation **
*We recommend that a certified payroll provider be used to administer payroll. This will ensure that payroll taxes are filed correctly. The provider assumes fiduciary responsibility for all payroll taxes.
**Accounting Focus works together with a small number of Certified Public Accountants (CPAs) to ensure that you have the maximum expertise and resources at your disposal to file your company’s and your personal US annual income tax returns. This CPA would also perform an annual audit if required by your parent company.
References: Kelly LeCroy, ATN Hoelzel, LP 423-244-0291
Steve Akridge, Border Hawk, LLC 678-521-6151
Ricardo Hein, Conexo, Inc. 678-806-0131
Julien Nadaud, b-pack, Inc. 404-602-0102