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What do you want from an accounting outsourcing package? Help managing your cash flow? Someone who understands the intricacies and pitfalls of basic accounting? A reliable and experienced provider that will act as your partner? All of the above? Consider our Basic Accounting Package when you’re looking to outsource your accounting operations.
The Basic Accounting Package includes the following services:
- Accounting Maintenance - We will keep your accounting records in accordance with Pennsylvania’s Chart of Accounts.
- Annual Budget - We will prepare your annual budget in conjunction with the CEO, the finance committee, and any other related bodies. We will present the new budget to the Board of Trustees. In addition, we will prepare the state mandated report on the budget in the required format.
- Budget Monitoring - We will monitor your authorized budget and report to the CEO and Board of Trustees periodically with respect to your budget.
- Vendors & Accounts Payable - We will process all of your vendor disbursements and accounts payable, deal with vendors and vendor relations, and also deal with vendors as it relates to procurement and purchasing.
- Financial Reporting - We will take responsibility for all of the state and federally mandated reports with the exception of the Annual Financial Report.
- Cash Monitoring - We will act as your treasurer and monitor related cash flows. We will also prepare a cash flow plan which will be updated periodically throughout the school year, to make sure that the school has enough cash to meet its needs. This includes the filing of state and federal reports on a timely basis.
- Statement Reconciliation - We will reconcile all of your bank statements as part of the accounting process.
- Social Security - We will prepare the annual estimates of social security payments for reimbursement by the Commonwealth of Pennsylvania.
- Grants and Entitlements - We will prepare grants budgets and other entitlement budgets for the state on an annual basis. This includes revisions to these budgets which can occur two or three times a year.
- Audit Coordination - We will act as a liaison to an outside auditor, prepare the request for proposal, prepare the initial draft of statements for the auditors, do the accounting closing for the year, and answer all of the auditor’s questions. In addition, we will review the initial draft of the financial statement and meet with the audit committee of the board.
- Projection Reporting - We have the capability do to prepare a five year budgetary projection, usually very helpful for outside financing for facilities and other projects.
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