Levels of Service

[toggle title=”Basic Service”]Accounts Payable

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  • Process accounts payable invoices weekly from invoices provided to Consultant in weekly submission; Invoices to be provided by client via email, fax or scan once per week
  • Code invoices using standard coding
  • Complete data entry of manual checks once a week when provided by Client
  • Process for payment all invoices approved by Client for Payment; Payment will be issued using default preference of Client (electronic or direct payment from Accounting Software to be sent directly to vendor or printed by Consultant and mailed to Client)
  • Reconcile vendor statements monthly when received from Client
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Payroll

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  • Prepare bi-weekly payroll with data polled from Client’s POS system; Client is responsible for keeping wage rates up to date
  • Send payroll preview to Client for Review prior to processing
  • Upload payroll journal information to Accounting System for inclusion in period financials
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General Accounting

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  • Confirm and post daily sales as reported by POS Polling software; post daily deposits when presented with information from Client
  • Complete bank reconciliations once per period
  • Process Inventory journal entries at period end with inventories provided by Client
  • File Sales Tax prepayments and quarterly filings; Consultant will not be held liable for interest, penalties or other charges or damages due to late payment if auto debit is not utilized for sales tax payments
  • File Annual Business License
  • File Annual 571-L with balance sheet information provided by Client
  • File Annual 8027 if applicable and if Commencement Date is prior to period 11 of the applicable fiscal year
  • File Environmental Fee
  • Prepare annual financial statements as necessary for CPA use for income tax preparation
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Budgeting

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  • Load in budgets prepared by Client and provided to MEPRS in a format that is easily uploaded to our systems
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Financial Reporting and Value Added Services

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  • Provide weekly flash reports with sales, labor and cost of goods once invoices are processed; sales and labor information will be available daily for review
  • Prepare period financials in Standard formats with no customization
  • Annual meeting to review performance and discuss opportunities
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[toggle title=”Intermediate Offerings”]

In addition to those services outlined above, the following financial reporting and value added services will be provided for clients selecting Intermediate services

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  • Preparation of a standard budget using MEPRS budget format
  • Narratives written for Client once Client approves preliminary financials
  • In-person meetings to be held Quarterly to review performance and to train management in the use of period financials to improve performance
  • Cursory review of Client contracts with Credit Card processing or other vendors to compare rates to industry standards at reduced hourly rate
  • Support for Sales Tax or other Audits at a reduced hourly rate
  • One free Secret Shop a year

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[toggle title=”Premium Services”]

In addition to those services outlined above, the following services will be provided for clients selecting premium services at no charge:

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  • Preparation of the annual budget with customization as needed and as is reasonable
  • Customized coding of AP invoices
  • Customization of Financial Reports as requested by Client (within parameters possible with accounting and reporting software)
  • Customized dashboards when logging in to accounting software and polling software
  • Monthly meetings with management including additional training of management in the understanding of daily decisions on profitability; suggestions on ways to achieve budgeted goals provided monthly
  • No charge for cursory review of insurance rates, credit card processing fees, w/c rates
  • No charge for Audit support for workers comp or Sales Tax audits
  • Two free Secret Shops a year
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