What's included

• Bank reconciliations

  Preparation of bank reconciliations in software application or spreadsheet such as Excel. Includes investigation and cleanup of open items spanning multiple periods.

• GL account reconciliations and financial close

  Preparation of GL account reconciliations in Excel or other spreadsheet program, as well as software reconciliation applications. Includes GL account clean up and investigation of open items for multiple reporting periods. Month-end and year-end financial close processes, including journal entry preparation, cost allocations, and closing processes in software system, such as period closing and subsidiary ledger processing and reconciliation. Assist in the interpretation of new accounting rules to ensure compliance with GAAP reporting standards. This includes interfacing with the customer and possibly obtaining customer audit team review for agreement in customer implementation of complex accounting rules, such as ASC 842.

• External financial audit and tax schedule support

  Assistance in providing accounting and financial reporting schedules to external audit team. Includes review and explanation of open items and creation of requested ad hoc financial schedules. Preparation of financial schedules to support state and federal income tax returns, including revenue, payroll and asset apportionment schedules. Services do not include quarterly payroll returns.

• Financial statement design in Excel or ERP

  Mapping of Balance Sheet, Income Statement, Statement of Changes in Equity and Cash Flow Statement in Excel or software application using FRX or Microsoft Management Reporter. Includes creation of financial statement model in Excel using a trial balance or transactional historical data, or directly from a software application.

• Data Analysis

  Identify trends, variances, KPIs and data patterns by analyzing large datasets from ERP application downloads, government data repositories, converted datasets (i.e., data from hard copy document converted to electronic format) and other sources. Data is imported to MS Access, Power BI or Excel to perform the data analysis.

• Process improvement and documentation

  Assist in Identifying processes to help streamline general accounting, accounts payable and accounts receivable workflows to reduce monthly closing times, enhance documentation to staff and audit team and increase internal control. Includes process documentation preparation and publishing to SharePoint.

• Analysis of financial statements

  Analysis of financial statements to identify risks and trends. Includes ratio and trend analysis, and bench marking using available public information. This is helpful when a company is researching a company to do business with, such as a new customer or a lessee.

• Training documents

  Write up and creation of training materials for technical accounting information used by employees and students. This includes review and summation of complex accounting rules in an easy to understand format.

• Budgeting and forecasting support

  Assist in year end or rolling budgeting and forecasting preparation and updates, including budget to actual variance analysis. Includes assisting in the creation and maintenance of budgeting and forecasting models in Excel and software applications.

• Chart of accounts setup

  Definition and creation of chart of accounts in general ledger system to support financial reporting objectives. Includes revision of existing chart of accounts and assisting in the import into accounting application.