In our RAC service model, ARI will provide assistance to management and the existing bookkeeping staff on a monthly basis. Specifically, we will assume responsibility for review of all transactional activity, formally closing the books each month and preparation of monthly financial statements for management.
Monthly services will include:
Review & Adjust Posting of Monthly Transactions
· Cash
· Accounts Receivable
· Accounts Payable
· Business Expenditures (Credit Card)
· Payroll
· Loans/Leases
Coordinate & Oversee Month-End Closing
· Prepare bank reconciliations for all accounts (as needed)
· Reconcile all other balance sheet accounts
· Maintain fixed asset/depreciation records
· Reconcile payroll and payroll taxes
· Review deferred revenue
· Analyze all revenue and expense accounts
· Prepare and record adjusting journal entries (as needed)
· Prepare adjusted trial balance and supporting
documentation (e-work papers)
· Maintain detailed general ledger
Monthly Financial Reporting
· Prepare balance sheet
· Prepare statement of income/(loss)
· Current month
· Year-to-date
· Budget vs. actual (if applicable)
· Prior period comparisons
· Prepare customized financial reporting (as needed)
Regulatory Compliance
· Ensure financial regulatory compliance with Federal, State,
and Local entities in the following areas;
· Payroll
· Sales Tax
· Property Taxes
Management Services
Meet with management as needed, to review financial results, discuss strategic opportunities and other matters of importance
If you would like us to contact you regarding our Monthly Accounting services, please fill out the form below.
