Deliverables

For Start-up businesses

  • Set up accounting processes and procedures
  • Create and customize a Chart of Accounts to closely fit the new business entity
  • Create financial statements such as Balance Sheets and Income Statements
  • Create the process and procedure of pulling together the General Ledger from which to draw the financial statements
  • Provide on-site financial analysis of financial statements and market opportunities
  • Set up procedure for recording accounting transactions
  • Write Desktop Operating Procedures for accounting process personnel
  • AR – train how to record and match cash receipts
  • AP – train how to match, pay and archive invoices; train how to manage check-writing
  • Credit – establish appropriate selection criteria for issuing credit
  • Collections – set up procedure to collect from customers including how to handle complaints and refusals to pay
  • Payroll – set up procedure to deal with forms 940 & 941 and other tax forms
  • Set up payroll timekeeping forms and how to match to shop floor labor
  • Develop/execute a long-term financial plan, including pro forma financial statements
  • Insurance – set up and create a maintenance plan for Worker’s Compensation, Property and Casualty coverage and Business Liability insurance
  • Set up simple bookkeeping using either QuickBooks or PeachTree accounting software, whichever is most appropriate

For On-going concerns

  • Perform financial or operational tasks as needed to solve immediate problems while creating and implementing long-term solutions
  • Reconstruct financial statements from canceled checks and bank statements
  • Handle banking relations; negotiate credit line with financial institution
  • Design a systematic way to deal with unsorted accounting transactions
  • Improve cash flow by contacting vendors and arranging an adequate repayment plan
  • Analyze selling transactions to determine actual realized margin for each product line
  • Create a customized inventory management system
  • Perform financial analysis on pricing and costing issues
  • Build financial pricing model
  • Create reasonable specifications for shop floor reporting software
  • Train production operators how to report shop floor activity
  • Link job estimates to actual job production performance
  • Establish workable PO system that fits the business entity
  • Write Policy & Procedure manual
  • Teach accounting personnel how to use accounting software
  • Train accounting personnel how to follow accounting and control procedures