I will do payroll bookkeeping and accounting in quickbooks xero

Alisha Masih

(0)

Starting at

/hr

About this service

Summary

I am your most reliable and trustworthy bookkeeper, ready to take full responsibility of your bookkeeping. I have 7 years of experience in payroll, bookkeeping and accounting sector in some of the most renowned telecommunication, retail, real estate, NGO and BPO companies. I am certified in Xero and Quickbooks Proadvisor.

Process

Step 1: Setting Up QuickBooks

Install QuickBooks software on your computer and create a new company file.

Enter company information such as name, address, industry type, and fiscal year start date.

Set up chart of accounts based on your business needs, including income, expenses, assets, liabilities, and equity accounts.

Step 2: Recording Transactions

Record income transactions:a. Create invoices for sales to customers.b. Receive payments against invoices.c. Record sales receipts for cash sales.

Record expense transactions:a. Enter bills for expenses like utilities, rent, and supplies.b. Pay bills when due.c. Record expenses paid using cash or credit cards.

Record banking transactions:a. Reconcile bank and credit card accounts regularly.b. Record deposits, withdrawals, and transfers accurately.

Step 3: Managing Accounts Receivable

Monitor outstanding customer invoices and follow up on overdue payments.

Send customer statements regularly to keep track of accounts receivable balances.

Apply customer payments to outstanding invoices in QuickBooks.

Step 4: Managing Accounts Payable

Review vendor bills and ensure accuracy before entering them into QuickBooks.

Schedule bill payments based on due dates and available cash flow.

Utilize vendor credits and discounts when applicable.

Step 5: Reconciling Accounts

Reconcile bank and credit card accounts monthly to ensure accuracy.

Match transactions in QuickBooks with bank and credit card statements.

Investigate and resolve any discrepancies promptly.

Step 6: Generating Financial Reports

Run financial reports such as profit and loss, balance sheet, and cash flow statement.

Analyze financial data to assess business performance and make informed decisions.

Customize reports as needed to meet specific reporting requirements.

Step 7: Year-End Procedures

Close out the fiscal year in QuickBooks.

Review and reconcile all accounts to ensure accuracy.

Prepare necessary documents for tax filing, such as W-2s, 1099s, and financial statements.

FAQs

Can you be my long-term bookkeeper?
Yes, depending on your satisfaction of my services. I am willing to be your long-term bookkeeper.
Is your rate fixed or variable?
My rate depends on the volume of work.
Are you going to give me updates while you work on my books?
Yes, I will give you continuous updates at every step. You can get back to me at your convenience.

What's included

Payroll, bookkeeping and accounting in xero quickbooks
This is Alisha Masih your most reliable and trustworthy bookkeeper, ready to take full responsibility of your bookkeeping. I have 7 years of experience in payroll, bookkeeping and accounting sector in some of the most renowned telecommunication, retail, real estate, NGO and BPO companies. I am certified in Xero and Quickbooks Proadvisor. My services include- Bank reconciliation Credit card reconciliation Identifying variances Catch up/Clean up of books Chart of account setup Payroll setup Project management Accounts receivable/payble management Inventory adjustment Financial statement preparation Profit/Loss, Balance sheet, Cash flow statement etc. Your work will be constantly revised until it is 100% accurate. Please contact me first before placing an order. I am available 24/7.

Skills and tools

Accountant

Auditor

Bookkeeper