|
The
mistake many accountants make is not paying attention to the details
that go into a solid accounting system. The first items that are
requested are always the checkbook, bank statements and QuickBooks
file. They will immediately commence entering transactions and
reconciling accounts. Many times this provides a false sense of hope
and security thinking that they are on top of things, only to find
out later that vital financial information is not readily
available.
THE PRO BOOKKEEPERS
SYSTEM requires us to pay close attention to all of
the details and areas that could have a profound effect on the
financial well being of the business today, and in the future. Here
is a summary list of the key areas we will
focus on.
 |
 |
|
WHAT |
WHY |
HOW |
| CHART
OF ACCOUNTS |
We start with a
standard,
numbered chart of accounts that is industry
specific. After reviewing your BUSINESS EVALUATION REPORT we
will work with you in customizing your chart so that your
future financial reporting needs will be
met. |
The foundation of
your bookkeeping
system. A well organized, numbered
chart of accounts will enable you to
categorize assets, liabilities, income
and
expenses. If you want solid
financial information you
start here.
|
| BANK
RECS |
The most basic of
checks and balances. Find errors and know your correct
checkbook balance. |
We reconcile weekly when we can obtain
onlinebank info. This ensures your balances are accurate and
up to date.
|
| CREDIT
CARDS |
When you use a credit card the transaction
constitutes a potential tax deduction. The proper
categorization is essential and the detail will prove valuable
when tracking your expenses. Additionally beginning and ending
balances should be
verified just like a bank statement.
|
We enter each transaction that appears on
your credit cards statement by either obtaining the
information electronically or through your monthly statement.
We will post your payment to your credit card liability and
verify that the balance on the statement matches your
accounting records and financial statements.
|
ACCOUNTS
RECEIVABLE
|
Keeping an accurate
up to date accounts receivable aging is essential in running a
business. |
We post your sales
invoices on a
daily basis, post payments
received and will even make some collection calls for
you.
|
ACCOUNTS
PAYABLE |
Entering bills as
they are received, is an important component of accrual based
accounting system. This will
provide for cash
flow requirements, an accurate recording of expenses in the
period they belong as well as a vendor transaction
history that could prove invaluable in future periods.
|
As soon as bills
are received they
are processed and recorded.
Once approved for payment the
checks are printed
and delivered
back to you for signing and
sending.
|
FILING
SYSTEM
|
One of the key
elements in having a solid business foundation is
organization.
Having books and
records that are accurate, reliable and timely is not
optional.
|
Pro Bookkeepers
takes a start to
finish approach to filing which
means that rather then just put all like items in one file, we
give you a complete package.
Each file contains the
folders that
belong to a specific category. This file
is labeled to match the category it belongs to in
QuickBooks. |
| 