V Consulting Group Services

  • Accounting, Administrative and HR Management Set-up and Procedures
    • File to request the EIN.
    • File to request all necessary county and city licenses to operate business.
    • Define and set-up chart of accounts in accounting system.
    • Define procedures of operation.
    • Manage payroll and HR services through a payroll company, including
      • Payroll
      • Health, dental and vision insurance.
      • Life and disability insurance.
    • Accounts Receivable
      • Create invoices to clients through the accounting system.
      • Mail invoices to clients through the accounting system.
      • Verification of receipt of WTs or receipt and deposit of checks at the Bank.
      • Record the payment entries in the system.
      • Produce monthly report to follow-up on outstanding invoices.
    • Accounts Payable
      • Receive and process vendor invoices.
      • Process and check employee expenses reports.
      • Issue payments of invoices and expenses reports.
      • Record the entries in the system.
      • Produce monthly report to follow-up on outstanding invoices.
    • Remuneration
      • Manage the payroll through a payroll company:
        • Set-up a package for new employee.
        • Process payroll and enter in the system.
        • Set-up and manage health insurance and retirement plan program.
      • Manage the independent contractors such as sales representatives:
        • Set-up a package for new contractor.
        • Calculate commissions and/or remuneration.
        • Process invoice and payment and enter in the system.
      • Treasury
        • Enter all bank transactions and monitor bank balance.
        • Process monthly bank reconciliations.
      • Inventory
        • Record inventory movements in the system.
        • Reconcile and adjust inventory.
      • End of the Month Activities and Reporting
        • Record any end-of-the-month journal entries.
        • Produce monthly and annual reporting including Balance Sheet and Profit & Loss Statement.
        • Review and analyze the accounts with clients.
      • Tax Reporting
        • Prepare and file Annual Federal and State Tax Return by a CPA.
        • Prepare and file sales tax returns.
      • Finance
        • Prepare budget and cash-flow to analyze business model.
        • Maintain and monitor budget versus actual to analyze discrepancies and solutions if needed.