F&A: Web-Based Accounting & Bookkeeping
The accounting process is one of the easiest business processes for a company to outsource. The speed and effectiveness of the Internet now makes internal bookkeepers obsolete and reduces the requirements for internal accountants. If you are looking for ways to reduce overhead and focus on your core business, you can outsource your accounting functions. Save money by not having to have an in-house bookkeeper or accountant.
- Save money by eliminating need for costly software upgrades.
- Makes data input and submission simple and easy.
- Have all reports and information at your fingertips.
- Sleep well knowing all data and communication are secure.
- No need for expensive data back-up and storage.
- Saves you time and money to allow you to do what you do best.
- Free up your time to “do what you do best”
- General overhead is reduced
- Reduce capital expenses of computers and printers
- Improving efficiency
- Avoid doing non-core functions
- Having access to specialized skills
- Cost savings on manpower and training
- More timely financial information
- Reliable financial information
- Improved cash flow
IPKeys Web-Based Accounting & Bookkeeping Services and Processes
Accounts Payable
Client to open mail and approve invoices
Client scans and uploads approved invoices to IPKEYS
Input vendor invoices to payable system
Cut checks to vendors based on due dates or client instruction;
Reconcile vendor statements to accounts payable ledger
Reporting to organization on detailed aged payables and cash requirements
Year end 1099 forms
Accounts Receivable
Billings prepared by IPKEYS and mailed out (all billings provided to Client for approval prior to mailing)
Client to photocopy checks and provide to IPKEYS
Client to prepare deposit slips (provide to IPKEYS) and make bank deposits
IPKEYS to prepare monthly bank reconciliations
Collections to be done by IPKEYS according to current Client procedures
Inventory
Client to provide IPKeys with a listing of all product numbers in inventory and a count of the number of each product. IPKEYS can assist Client in obtaining this information
Client to provide reports of inventory sold and inventory purchased (exact method determined by individual client needs and systems)
Annual physical inventory to be taken by client with IPKEYS’s assistance.
IPKeys to reconcile physical inventories to accounting system inventory and prepares any adjustments necessary
Financial Reporting
Balance sheet and income statement compared to budget provided 10 working days after each month-end
Accounts Payable and Accounts Receivable aging provided after each check run
Reports are customized for each clients’ specific requirements
Periodic Tax Filings
Payroll tax filings (941)
Sales and use tax filings (for some clients this may be monthly for city business license and tax filings)
