Your Company needs to focus all your energy on your tasks, to achieve your goals and gain more growth. Leave the number crunching to us. From handling your day-to-day accounting, timekeeping, payroll, and even cash flow. To forecasting and meetings as well as reports that are customized only for your needs. Through our help you not only ensure your present accounting but you are future-proofing your company.
It’s time for you to inject new life into your business by allowing us to master your accounting. Pick your package to financial growth and full service accounting.
Service |
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| Minimum Monthly PriceThe Monthly Price is based on the size of the company, revenues, number of employees, indirect expense rate subject, government agencies, contract types and the complexity of the company’s reporting requirements. |
| Onboarding Timeframe |
| Advisory Services: |
| Online Support We will provide unlimited online and telephone support for any questions arising during the month. |
| Monthly Financial Statements We will provide a monthly financial reporting package that includes a Comparative Balance Sheet, Comparative Income Statement, Statement of Cash Flows, Budget vs. Actual Report, AP/AR Aging Reports, and Accrual Calculations |
| Indirect Rate Calculations We will calculate monthly and year-to-date Indirect Expense rates for the Company based on the adopted Indirect Rate Structure for its’ government contracts and grants. |
| Month-End Closing We will prepare the monthly expense accruals, Balance Sheet account reconciliation, bank account reconciliation, credit card reconciliation, depreciation calculation, vacation accrual calculation, accrued payroll, job cost reconciliations, adjusting journal entries, review of potentially unallowable expenses per FAR Part 31 |
| Indirect Rate Monitoring We will review update the Indirect Expense rates for actual expenses and run out the budgeted expenses for the year-end to calculate an estimated year-end rate. The estimated year-end rates will be compared to the annual provisional billing rate used throughout the year and determine if the company is over/underbilled for its’ indirect expenses. If the rates will result an a significant over/underbilled amount, we would then recommend submitting a revised provisional billing rate to the Government. |
| Project Performance & Monitoring We will review project costs by cost element to the budget costs for the project to determine any budget variances and available funding on the project. The project costs will be reconciled to the company income statement to assure all direct costs are accounted for in the Cost of Goods Sold and all indirect expenses are properly allocated to projects. |
| Financial Meetings We will meet with management to discuss financial reports and program specific reports either virtually or in-person. |
| Controllership Services |
| Company-wide KPIs We will prepare the critical KPIs identified by the company to help monitor the operations of the company and its’ profitability and efficiencies. |
| 12 Month Forecasting We will work with Management to develop a 12 month rolling forecast of revenue and expenditures for profit/loss estimates as well as indirect rate forecasting. |
| Cash Flow Management We will monitor the cash flow of the company as well develop a cash flow forecast based on the 12 month rolling forecast to consider payroll, accounts payable, accounts receivable turnover, estimated taxes, equipment purchases critical to the operation of the company. |
| Revenue Recognition We will prepare unbilled receivables and billings in excess of cost calculations on Cost-Type contracts and percentage of completion on any Firm Fixed Price contracts. |
| Customized Reporting We will prepare any custom reports from the underlying accounting records that Management would like to see on a monthly basis. |
| Day-to-Day Transactional Accounting |
| Bill Payment & Processing We process the Company vendor invoices through Bill.com for approval and payment and categorization to QuickBooks |
| Credit Card Processing & Reconciliation We will sync credit card transactions from your online credit card account to QuickBooks Online and categorize and reconcile the transactions. |
| Timekeeping & Payroll Processing We take time charges from the employee prepare timecards and prepare a labor distribution that reconciles to the payroll for the timecard reporting period |
| Bank Reconciliations At the end of the month, we will reconcile all bank accounts and review any discrepancies or issues identified with the Company. |
| Project Costing We will reconcile the costs for the project each month to invoices submitted on cost-type contracts and the total profit for the Company for the reporting period. |
| Other Services |
| Proposal Preparation Support We will support the company in the preparation of current and accurate proposal for services or products. We help develop the proposal cost format, cost estimates for labor, direct materials, subcontractors, other direct costs and the related indirect expense rates as well as cost narrative write-ups. |
| Accounting System Design We implement an accounting system compliant with the FAR and the SF 1408. The process involves redesign of the Chart of Accounts, setup of timekeeping & labor distribution systems, job costing systems, unallowable cost accounts and related policies and procedures for the system. |
| Forecasted Indirect Expense Rates We will help the Company develop forecasted indirect expense rates that can be used in pricing proposals. The forecasted indirect expenses will provide support for audit by procuring agencies. |
| Provisional Billing Rate Submissions We will prepare the annual provisional billing rate submission to DCAA for billing rates on your cost-type contracts. The provisional billing rate submission will provide support for approval of the billing rates by DCAA. |
| Incurred Cost Submissions We will prepare the annual Incurred Cost Submission Electronic (ICE) Submission for Cost-Type Contracts to DCAA. The ICE will be prepared in accordance with FAR Part 31 and DCAA requirements for acceptance for audit. |
| Indirect Rate Proposals (NIH/DOE) NIH/DOE require Indirect Rate Proposals in compliance with their specific Agency requirements. |
| Business Tax Returns We will prepare the tax filings for the Federal and all states that require a return for the Company. |
| Tax Planning & Projections We will conduct semi-annual tax planning with Management to minimize any potential tax liabilities. |
| Other Audit Support We will support any audits by the IRS or other government agencies or outside CPA Firms. |
| Special Projects Government contracts are unique business contracts and from time to time have special reporting requirements or internal control requirements. We can support the Company in any of these special requirements put forth by the US Government. |
