About This Service
1. Accounts receivables
• Customer invoicing per agreement and sales orders
• Bank downloads, posting of cash receipts to accounting software from lockbox account at bank (daily basis)
• Maintain google sheet to track the customer outstanding balance & reporting the same with CFO on a weekly basis
• Preparing cash journal entries for the deposits
• Tracking statewise revenues to file the Federal tax returns
• Preparing chart of accounts for the newly formed companies
• Follow up with customer for the payment
2. Accounts payable
• Preparing purchase orders against quotation and sending for approvals
• Creating new vendor profiles, entering bills & bill credits
• Weekly ACH payment initiation (includes domestic & international)
• Processing of Dutch VAT code bills
• Creating amortization schedule and its monthly entries
• Preparing cash journal entries for auto-payment disbursement
• Monthly P&L analysis and sending reminders for invoices regular vendors
• Monthly accruals
• Expense reimbursement and its accruals
• Collecting credit card receipts for processing
3. Monthly Reconciliation
• Bank reconciliation
• Reconciliation of credit card statement with books
• Reconciling cash balance in accounting software daily basis
• Prepaid reconciliation
• Monthly reconciliation of medical bills
• AP & AR aging reconciliation
• Accrued other reconciliation
4. Monthly report
• Cash flow statement
• Cash forecasting & budgeting (quarterly)
• Trial balance
• Profit & Loss, balancesheet & its consolidation
• Revenue recognition report