General
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Hourly Rate | $200.00 | $200.00 | $150.00 | $125.00 | $100.00 |
| Weekly/Monthly/Quarterly Rate available | Yes | Yes | Yes | Yes | Yes |
| Multi-entity support | Yes | Yes | Yes | Yes | No |
Chart Of Accounts
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Review/Build/Redesign a Chart Of Accounts | Y | Y | Y | Y | |
| Create Parent/Child structure for depth & rollup - use Items? | Y | Y | |||
| Assign Account Numbers - plan for future growth/additions | Y | Y | Y | ||
| Departments, Classes, Locations? | Y | Y | Y | Y | |
| Industry specific OR custom designed based on business need | Y | Y | Y | Y | |
| Is a new COA required that accommodates growth/additions? | Y | Y | |||
| Train, coach, counsel, mentor Accounting Lead | Y | Y | Y | Y |
Trial Balance
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Do total Debits = total Credits? | Y | Y | Y | Y | |
| Are normal account balances 'correct?' | Y | Y | Y | ||
| Are the GL Accounts in 'correct' order? | Y | ||||
| Does total of BS accounts + total IS accounts => $0.00? | Y | Y | Y | ||
| Identify/review unusually named, out of sequence, miscategorized Accounts. | Y | Y | |||
| Review 18 - 36 months - identify trends, anomalies and normal behavior | Y | Y | Y | ||
| Design & implement metrics to measure trends & catch inefficiencies. | Y | ||||
| Train, coach, counsel, mentor Accounting Lead | Y | Y | Y |
Accounts Payable
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Structural Design/Setup | |||||
| Design, Test, Formalize and Document all AP workflows | Y | Y | |||
| Review/Verify, Adjust/Create & document SOPs for all AP processes | Y | Y | Y | ||
| Analyze, Test & Recommend internal controls/checks & balances | Y | Y | Y | ||
| Review & recommend/create an AP Checklist - W/M/Q/Y | Y | Y | Y | Y | |
| Verify Vendor data is complete & updated | Y | Y | Y | ||
| Review vendor contracts - billing, payment, service & maintenance | Y | Y | |||
| Review/Cleanup Vendor list - inactive vendors, past due balances | Y | ||||
| Calculate Working Capital requirements - W/M/Q | Y | Y | Y | ||
| Review and set AP Payments terms | Y | Y | Y | Y | |
| Is the AP Turnover Ratio increasing/decreasing? | Y | Y | |||
| AP Automation - AP data being imported and/or digitized for efficiency & accuracy? | Y | Y | Y | Y | |
| Are there any 3rd party service 'connected' to AP module? | Y | Y | Y | ||
| Verify 1099 data is complete & updated | Y | Y | Y | ||
| 1099 Filing process review | Y | ||||
| Review 1 Yr. of AP ledger w/Staff - nature/amount/timing of billing & payments, past dues | Y | Y | Y | ||
| Recordkeeping process of Vendor bills/statements, payment records, adjustments | Y | Y | Y | ||
| Is there a 3rd party AP processor? | Y | Y | Y | Y | |
| Is their a document retention process established? | Y | Y | Y | ||
| Design & implement metrics to measure trends & catch inefficiencies. | Y | Y | |||
| Train, coach, counsel, mentor, manage Accounting Manager (or a Lead person) | Y | Y | Y | Y | |
| Procedural Design/Setup | |||||
| Review/enter all Vendor Bills - perform 3-way match | Y | ||||
| Review/enter Credit Card transactions, correctly categorize and reconcile | Y | ||||
| Review/reconcile credit card expenses receipts | Y | ||||
| Review/reconcile Past Due balances & Vendor Statements | Y | Y | |||
| Review AP Aging - does the Aging balance match the Trial Balance? | Y | Y | Y | Y | |
| Review/reconcile any open unapplied debits/credits adjustments | Y | Y | Y | ||
| Review/reconcile all open POs, unrecorded liabilities & non-posting items | Y | Y | Y | ||
| Prepare/release Vendor payments & Manual Checks - reconcile weekly check run | Y | ||||
| Verify/record Accrued Liabilities - taxes, bonus, payroll, commissions, etc. | Y | Y | |||
| Review Internal Controls - check sequences, ACH payments, void/uncleared/reversed checks | Y | Y | Y | ||
| File 1099s | Y | Y |
Accounts Receivable
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Structural Design/Setup | |||||
| Design, Test, Formalize and Document all AR workflows | Y | Y | |||
| Review/Verify, Adjust/Create & document SOPs for all AR activities | Y | Y | Y | ||
| Analyze, Test & Recommend internal controls/checks & balances | Y | Y | Y | Y | |
| Review & recommend/create an AR Checklist - W/M/Q/Y | Y | Y | Y | Y | |
| Verify Customer data is complete & updated | Y | Y | Y | ||
| Review customer contracts - invoicing, collections, life, past dues | Y | Y | |||
| Review/Cleanup old Customer list, inactivate Customers no longer used | Y | Y | |||
| Review AR Terms - collections, payments & methods? | Y | Y | Y | Y | |
| Is the AR Turnover Ratio high/low? | Y | Y | |||
| AR Automation - AR data being imported and/or digitized for efficiency & accuracy? | Y | Y | Y | ||
| Are there any 3rd party services 'connected' to AR module? | Y | Y | Y | Y | |
| Is CC/Delivery/GC/EBT transactions imported or manually entered from Merchant website? | Y | Y | |||
| Review 1 Yr. of AR ledger w/Staff - timing of invoicing & collections, payments, past dues etc. | Y | Y | Y | ||
| Recordkeeping process of Customer invoices/statements, payment records, adjustments | Y | Y | Y | Y | |
| Is the document retention process being followed? | Y | Y | |||
| Design & implement metrics to measure trends & catch inefficiencies. | Y | Y | |||
| Train, coach, counsel, mentor, manage Accounting Lead | Y | Y | Y | Y | |
| Procedural Design/Setup | |||||
| Review/enter/generate/invoice for Customers | Y | ||||
| Review/enter/reconcile Sales Receivable Reimbursement - CC, Gift Cards, Delivery, EBTs, Coupons | Y | ||||
| Review/enter/reconcile Cash Receipts, Bank Deposits, Cash On Hand, Undeposited Funds | Y | ||||
| Review AR Aging - collection are on time? | Y | Y | Y | Y | |
| Does AR Aging Balance match TB AR Balance? | Y | Y | Y | Y | |
| Reconcile Past Due balances & Customer Statements | Y | Y | |||
| Recordkeeping of Customer invoices/statements, payment records, adjustments | Y | ||||
| Review Internal Controls - open/invoices, collections, bank deposits, | Y | Y | Y | ||
| Review collections, bank deposits & reconciliations | Y | Y | Y |
Sales
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Structural Design/Setup | |||||
| Design, Test, Formalize and Document all Sales workflows | Y | Y | |||
| Review/Verify, Adjust/Create & document SOPs for all Sales activities | Y | Y | Y | ||
| Analyze, Test & Recommend internal controls/checks & balances | Y | Y | Y | ||
| Review & recommend/create an Sales Checklist - W/M/Q/Y | Y | Y | Y | ||
| Review 18 - 36 months of prior Sales Trends, establish max/min/outliers | Y | Y | Y | ||
| Sales Automation - Sales data being imported and/or digitized for efficiency & accuracy? | Y | Y | Y | Y | |
| Are there any 3rd party services 'connected' to the Sales module? | Y | Y | Y | ||
| Is there a document retention process and is it being followed? | Y | Y | Y | ||
| Review/assist with Daily/Weekly Sales Journals - automate import process | Y | Y | |||
| Review/assist with Sales Receivables & Reimbursements - automate import process | Y | Y | Y | ||
| Review/assist with Payment Gateways/Merchant Processors | Y | ||||
| Design & implement metrics to measure trends & catch inefficiencies. | Y | Y | |||
| Train, coach, counsel, mentor, manage Accounting Lead | Y | Y | Y | Y | |
| Procedural Design/Setup | |||||
| Review/enter/reconcile Daily Sales/Receivables | Y | ||||
| Review/enter/reconcile reimbursements, cash receipts & bank deposits | Y | ||||
| Review shortages, discrepancies, voids, overrings, cash handling procedures | Y | Y | Y | Y | |
| Verify Sales related Taxes on the POS are accurate | Y | Y | Y |
Licenses, Permits & Taxes (LP&T)
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Structural Design/Setup | |||||
| Design and Document all workflows related to LP&T renewal, filing & payment. | Y | ||||
| Review/Verify, Adjust/Create & document SOPs for all AP processes | Y | Y | |||
| Analyze, Test & Recommend internal controls/checks & balances | Y | ||||
| Review & recommend/create a W/M/Q/Y Checklist to ensure timely renewal, filing & payment | Y | Y | |||
| Design & implement metrics to measure trends & catch inefficiencies. | Y | ||||
| Train, coach, counsel, mentor, manage Accounting Lead | Y | Y | |||
| Procedural Design/Setup | |||||
| Review, reconcile, file & pay Sales Taxes | Y | Y | |||
| Review, reconcile, file & pay Occupancy Taxes | Y | Y | |||
| Review, reconcile, file & pay Income Taxes (w/CPA) | Y | Y | |||
| Review, reconcile, file & pay Secured & Unsecured Property Taxes | Y | Y | |||
| Review/reconcile discrepancies, variances, penalties, late fees. | Y | Y | Y | ||
| All Taxes, License & Permits renewed, filed & paid? | Y | Y | Y |
Accruals & Deferrals
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Review/post Secured & Unsecured Property tax accruals | Y | Y | Y | ||
| Review/post Payroll accruals | Y | Y | Y | ||
| Review/post Prepaid Expenses | Y | Y | |||
| Review/post Deferred Revenues | Y | Y | |||
| Review/adjust Recurring & Reversing Entries | Y | Y | Y | ||
| Train, coach, counsel, mentor, manage Accounting Lead | Y | Y | Y |
Payroll Accounting
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Structural Design/Setup | |||||
| Design, Test, Formalize and Document all Payroll workflows | Y | Y | |||
| Review/Verify, Adjust/Create & document SOPs for all Payroll processes | Y | Y | Y | ||
| Analyze, Test & Recommend internal controls/checks & balances | Y | Y | |||
| Review & recommend/create a Payroll Checklist - W/M/Q/Y | Y | Y | Y | ||
| Verify if the payroll is outsourced and 'connected' accurately? | Y | Y | Y | ||
| Review/analyze Payroll trends for last 18 - 36 months. | Y | Y | Y | ||
| Review payroll tax liabilities balances, payments, variances, delinquencies. | Y | ||||
| Do Payroll accounts have correct/normal balances? | Y | Y | |||
| Is a document retention process defined & followed? | Y | Y | |||
| Assist with full setup of 3rd party Payroll Service | Y | Y | Y | Y | |
| Design & implement metrics to measure trends & catch inefficiencies. | Y | Y | |||
| Train, coach, counsel, mentor, manage Accounting Lead | Y | Y | Y | Y | |
| Procedural Design/Setup | |||||
| Payroll totals in GL matches Payroll Reports? | Y | Y | Y | ||
| Review/reconcile Payroll Tax & Benefits liabilities. | Y | Y | |||
| Review/reconcile Manual/Termination checks. | Y | ||||
| Review/reconcile voids, uncleared/returned checks, garnishment deductions. | Y | Y | |||
| Are Quarterly State/Federal taxes paid & filed? | Y | Y | Y | ||
| Review prior quarter/year adjustments, discrepancies, variances. | Y | Y | Y | ||
| Any Uncleared Payroll Checks require Escheatment? | Y | Y | Y |
Fixed Assets Management
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Structural Design/Setup | |||||
| Design, Test, Formalize and Document all Fixed Asset workflows | Y | ||||
| Review/Verify, Adjust/Create & document SOPs for all Fixed Asset processes. | Y | Y | |||
| Analyze, Test & Recommend internal controls/checks & balances | Y | Y | |||
| Is there a 3rd party Fixed Asset application connected? | Y | Y | Y | ||
| Review & recommend/create a Fixed Asset Checklist - W/M/Q/Y | Y | Y | Y | ||
| Is there a Capitalization Policy? Does the process follow the Capitalization Policy? | Y | Y | Y | ||
| Is there a Capital Expenditure/Remodel planned in the next M/Q/Y | Y | Y | |||
| Design & implement metrics to measure trends & catch inefficiencies. | Y | Y | |||
| Train, coach, counsel, mentor, manage Accounting Lead | Y | Y | |||
| Procedural Design/Setup | |||||
| Are Fixed Asset additions in compliance of the Capitalization Policy? | Y | Y | Y | Y | |
| New Additions & Disposals correctly categorized and verified? | Y | Y | |||
| Depreciation & Amortization calculated & posted? | Y | Y | |||
| Is the 'external' Fixed Asset register tied to the GL? | Y | Y | Y | Y |
Debt Management
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Structural Design/Setup | |||||
| Design, Test, Formalize and Document all Debt Management workflows | Y | ||||
| Review/Verify, Adjust/Create & document SOPs for all Debt Management processes | Y | Y | |||
| Review & recommend/create a Debt Management Checklist - W/M/Q/Y | Y | Y | Y | ||
| Analyze, Test & Recommend internal controls/checks & balances | Y | Y | |||
| Line Of Credit - Open/Used | Y | ||||
| Loan/Note terms available - length, interest, amount, amortization etc. | Y | Y | Y | Y | |
| Loan covenant requirements listed & reviewed | Y | ||||
| Is a document retention process defined & followed? Loan Statements available? | Y | Y | |||
| Design & implement metrics to measure trends & catch inefficiencies. | Y | Y | |||
| Train, coach, counsel, mentor, manage Accounting Lead | Y | Y | Y | ||
| Procedural Design/Setup | |||||
| Does bank require periodic Financial Statements | Y | Y | Y | ||
| Principal & Interest payment recorded accurately | Y | Y | Y | Y |
Bank & Credit Card Reconciliation
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Structural Design/Setup | |||||
| Design, Test, Formalize and Document all Bank Reconciliation workflows | Y | Y | |||
| Review/Verify, Adjust/Create & document SOPs for Bank Reconciliation processes. | Y | Y | Y | ||
| Review & recommend/create a Bank Reconciliation Checklist - W/M/Q/Y | Y | Y | |||
| Analyze, Test & Recommend internal controls/checks & balances | Y | Y | Y | Y | |
| Any indications the Bank Reconciliation was forced balanced? | Y | Y | Y | ||
| Are Bank & Credit Card accounts connected to the Accounting System? | Y | Y | Y | Y | |
| Design & implement metrics to measure trends & catch inefficiencies. | Y | Y | |||
| Train, coach, counsel, mentor, manage Accounting Lead | Y | Y | Y | Y | |
| Procedural Design/Setup | |||||
| Connect Bank Accounts to Accounting System and synchronize | Y | Y | Y | ||
| Reconcile Bank Accounts | Y | ||||
| Connect Credit Cards to Accounting System and synchronize | Y | ||||
| Reconcile Credit Cards | Y | ||||
| Review/reconcile Cash Receipts, Bank Deposits & Undeposited Funds | Y | Y | Y | ||
| Review adjustments, over/shorts, missing deposits, void/returned/uncleared checks | Y | Y | Y | Y | |
| Review automatic transfers & ACH payments | Y | Y | Y |
Cash Flow Management
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Analyze 18 - 36 months of Cash Flow to identify trends & set parameters | Y | Y | Y | ||
| Identify Cash Flow drivers | Y | Y | |||
| Profit Drivers | Y | Y | |||
| +/- in Revenue | Y | Y | |||
| +/- in Fixed Expenses | Y | Y | |||
| +/- in Variable Expenses | Y | Y | |||
| Cash Flow Drivers | Y | Y | |||
| +/- in Profits | Y | Y | |||
| +/- in Inventory | Y | Y | |||
| +/- in Other Assets & Liabilities | Y | Y | |||
| +/- in Owner's Equity | Y | Y | |||
| Design a M/Q/Y Cash Flow Budget | Y | Y | |||
| Design a color-coded score (red, yellow, green) based on what area needs immediate attention. | Y | Y | |||
| Build KPIs to monitor performance efficiently | Y | Y | Y | ||
| Train, coach, counsel, mentor, manage Accounting Lead | Y | Y | Y |
Related Party Transactions (Multi-entity portfolios only)
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Structural Design/Setup | |||||
| Design, Test, Formalize and Document all multi-entity workflows | Y | Y | |||
| Review/Verify, Adjust/Create & document SOPs for multi-entity processes. | Y | Y | Y | ||
| Does each entity have a separate bank account? | Y | Y | |||
| Are Clearing Accounts or inter-entity AR/AP accounts being used? | Y | Y | |||
| Review & recommend 3rd party AP/AR/Payroll solutions for integration | Y | Y | |||
| Review & recommend/create a Close Checklist - M/Q/Y | Y | Y | Y | ||
| Design & implement metrics to measure trends & catch inefficiencies. | Y | Y | |||
| Train, coach, counsel, mentor, manage Accounting Lead | Y | Y | Y | Y | |
| Review/research/implement/manage ERP | Y | Y | |||
| Design, test, implement Accounting Information Systems | Y | Y | |||
| Procedural Design/Setup | |||||
| Review/monitor/reconcile inter-entity AR & AP balances | Y | Y | |||
| Identify discrepancies, provide adjustments. | Y | ||||
| Review/monitor/reconcile inter-entity recurring transactions; | Y | Y | |||
| Rents | Y | Y | |||
| Utilities | Y | Y | |||
| Insurance | Y | Y | |||
| CAM | Y | Y | |||
| Credit Cards | Y | Y | |||
| Loans/Cash transfers/Promissory Notes | Y | Y | |||
| Equity transfers |
Financial Reporting & Budgeting
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Is the entire process/workflow reviewed, adjusted and documented? | Y | Y | |||
| Generate all FS => P&L, BS, CF, TB for all entities & locations | Y | Y | Y | ||
| Review MTD/YTD performances for CY & PY, identify changes, trends | Y | Y | Y | Y | |
| Generate TB Flux Analysis to identify & monitor performance trends | Y | Y | Y | ||
| Generate Ratio Analysis - Balance Sheet & Income Statement | Y | Y | Y | Y | |
| Liquidity | Y | Y | |||
| Financial Leverage | Y | ||||
| Efficiency | Y | Y | |||
| Profitability | Y | Y | |||
| Market Value | Y | ||||
| Segment Reporting - analyze by department, location, project, business line | |||||
| Review Labor Efficiencies & Break Even Points | Y | Y | |||
| Build/Review Quarterly Budgets for each entity/location | Y | Y | |||
| Provide FS to lenders & bankers, loan covenant compliance - answer any questions | Y | Y | Y | ||
| Design & implement metrics to measure trends & catch inefficiencies. | Y | Y | |||
| Train, coach, counsel, mentor, manage Accounting Lead | Y | Y | Y |
IT & ERP Management
| Services | Accounting Information Systems Design | Virtual Controller & CFO Advisory Services | Controller Full Service | Full Charge Bookkeeping | Regular Bookkeeping |
|---|---|---|---|---|---|
| Research & Review, assist w/Upgrade Install/Replace new ERPs & Accounting Software | Y | Y | Y | ||
| Research & Review, Install/Replace 3rd party apps integration w/Accounting applications | Y | Y | Y | ||
| Process & Systems evaluations | Y | Y | Y | ||
| Manage and train staff on ERP and Accounting Software | Y | Y | |||
| Design & implement metrics to measure trends & catch inefficiencies. | Y | Y | |||
| Train, coach, counsel, mentor, manage Accounting Lead | Y | Y | Y |