Accounting and Bookkeeping Services

Our Financial accounting and bookkeeping services is designed to complete your daily and monthly financial reports and analysis of your business.

We want you to feel confident that your accounting system accurately reflects your current situation so you can concentrate on running your business instead of trying to stay on top of your books. The steps involved with basic accounting and bookkeeping can be overwhelming depending on the size of your business and the number of transactions. If you no longer feel like you have control of your books, give Simples a call. Simple Solutions will manage your business finances and keep you on the right track. Included in our fixed monthly fee, are the following full charge accounting services:

Accounts Payable

Simple Solutions offers a solution designed to transform the operation of your accounts receivable process. From the point when the invoice data is available, through the posting of cash received, we let the customers concentrate on their core business and see that the Accounts receivable process is professionally, accurately and securely. Through formalized workflows, we execute your project plans that is documented, efficient and effective. We ensure continuous monitoring of standards and policies of the professionals at the facility that executes the project, to ensure they stay abreast with changing conditions. This commitment to accounts payable outsourcing quality results not only in timely and accurate work, but also in a value-added proactive approach to problem solving.

Generation of Purchase order
Entering Bills of vendors tracking of A/P
Payments to vendors/suppliers
Generation of A/P reports
Aging analysis etc.
Processing of voucher of other income/expenses of transaction other than invoices/ bills. Income and Expense Tracking.
Input vendor invoices to payable system
Classify invoices to the proper G/L account
Request and maintain vendor W-9 information
Maintain vendor master files
Respond to vendor inquiries about payment status
Retrieve copies of payments as necessary
Prepare and file required 1099 forms
Process requests for stop payments when necessary
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

Cash flow is the lifeblood of business and the performance of your receivables cycle holds the key to maximizing your cash flow. Partnering with us in Accounts Receivables Outsourcing allows you to take control of your accounts receivables processes and obtain overall excellence in their performance. Accounts Receivables Outsourcing is dedicated to organizations seeking to engage their non or late paying customers with a greater focus upon the long term customer relationship. We work with you from initial invoicing and customer contact to collections and bad debt recovery.

It starts out as a customer service function, with calls and letters to verify satisfaction, encourage payment and forecast potential problems and we handle it in your name in a customer oriented manner. Our approach to Accounts Receivables Outsourcing works with you as an extension of your staff - whenever you need help servicing your receivable assets, strengthening your customer relationships and improving the productivity of your staff.

Billings prepared as needed by Simple Solutions and mailed out (all billings provided to Client for approval prior to mailing)
Record and account for revenue
Input receivable transactions into the accounting system
Prepare and deliver periodic statements
Issue client-approved credit memos and refund checks
Maintain subsidiary receivables ledger
Process client-approved adjustments
Apply cash received to customer accounts and resolve “short pays”
Light phone collections as needed by client
Client to photocopy checks and provide to Simple Solutions
Client to prepare deposit slips (provide to Simple Solutions) and make bank deposits

General Accounting

Cash Management

Process daily sales and deposit reports
Verify daily deposits and report variances
Reconcile and verify credit card deposits
Reconcile monthly bank statements

Inventory

Client to provide Simple Solutions with a listing of all product numbers in inventory and a count of the number of each product. Simple Solutions 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 Simple Solutions assistance. Simple Solutions to reconcile physical inventories to accounting system inventory and prepares any adjustments necessary.

Fixed Assets

Classify, capitalize, and record fixed assets items and capital expenditures (additions, transfers, retirements)
Calculate and record depreciation and amortization
Maintain depreciation schedules

Financial Reporting

Balance sheet and income statement compared to budget provided 10 calendar days after each month-end
Accounts Payable and Accounts Receivable aging provided after each check run
Reports are customized for Client's specific requirements Provide a 'Mock' profit and loss statement and Balance sheet just prior to period closing and discuss variances with client
Provide weekly sales and ranking reports
Handle escheatment as instructed by client

Quarterly Tax Filing

Sales and use tax filings (for some clients this may be monthly for city business license and tax filings)
Payroll tax filings (941)

Payroll

Time cards, after approval, will be scanned and uploaded to Simple Solutions prior to payday
Simple Solutions completes payroll and client prints, signs and distributes paychecks
Prepare employee earnings statements complete with current pay period and year-to-date wages, taxes, and adjustments
Prepare department summaries of month-to-date payroll data in addition to customized reports specific to Client
Prepares timely and accurate notifications of tax liabilities and deposits
Completes Year end W-2 forms
Respond to requests for employee verifications
Process and submit garnishment payments
Respond to employee payroll inquiries
Prepare and file new hire reporting to state
Prepare, file, and pay all Federal, State, and local payroll taxes
Reconcile health insurance payments and make payroll deductions when required
Prepare necessary HR reports such as turnover
Allocate payroll expenses for multi-store employees
Prepare and process payroll accruals when necessary

Accounts Reconciliation

There are times during a company's life that it may find that accounts have become "unruly". Reconciliation of the accounting ledger is required in such a way as to resolve each account whilst maintaining the goodwill of your customers and releasing valuable internal resources.

Bank Reconciliation can again be treated as a part of General Accounting function or it can be treated as a Separate function. It includes reconciling the bank accounts at the end of each period, which can be a month, every quarter, or a year. We perform the following services for account reconciliation:

Cash Reconciliation
Balance Sheet Reconciliation
Bank Reconciliation
Position Reconciliation

Financial Backoffice Services