AP/AR PROFICIENT (I CAN DO FINANCIAL ANALYSIS & REPORTING)

Radeian De Leon

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About this service

Summary

Accounting, Financial Reporting, Bookkeeping, Accounts Receivable, Accounts Payable, or other clerical tasks. I can do it for you!

Process

1. Set Up Your Financial Infrastructure

Separate Personal and Business Finances: Open a separate bank account for your freelance business to keep personal and business transactions distinct.

Choose Accounting Software: Select an accounting software that suits your needs. Popular options include QuickBooks, FreshBooks, and Xero.

2. Track Income

Record All Payments: Document every payment you receive from clients. This includes direct deposits, checks, and payments through platforms like PayPal.

Issue Invoices: Create and send professional invoices promptly. Include details such as services provided, payment terms, and due dates.

3. Manage Expenses

Categorize Expenses: Track and categorize all business-related expenses, such as software subscriptions, office supplies, and travel costs. This helps in identifying deductible expenses for tax purposes.

Keep Receipts: Maintain digital or physical copies of all receipts for accurate record-keeping and tax compliance.

4. Reconcile Accounts

Monthly Reconciliation: Regularly reconcile your bank statements with your accounting records to ensure accuracy and identify any discrepancies.

5. Budgeting and Cash Flow Management

Create a Budget: Develop a budget to manage your income and expenses effectively. This helps in planning for future expenses and ensuring financial stability.

Monitor Cash Flow: Keep an eye on your cash flow to ensure you have enough funds to cover your expenses, especially during slower periods.

6. Tax Planning and Compliance

Understand Tax Obligations: Familiarize yourself with your tax obligations, including self-employment tax, estimated tax payments, and deductible expenses.

Set Aside Funds for Taxes: Regularly set aside a portion of your income to cover your tax liabilities.

File Taxes on Time: Ensure timely filing of your tax returns to avoid penalties.

7. Financial Reporting

Generate Financial Reports: Regularly generate financial reports, such as profit and loss statements, to assess the financial health of your business.

Analyze Reports: Use these reports to make informed decisions about your business operations and growth strategies.

What's included

ACCOUNTS RECEIVABLE OR ACCOUNTS PAYABLE - RAD DE LEON
Hi! I'm Radeian De Leon, with over 6 years of experience working as an Accounting Officer at different companies, I can do these things for you: Accounts Payable (AP) Deliverables: Invoice Processing: Verify, record, and process invoices for payment. Payment Disbursement: Schedule and prepare payments, ensuring timely disbursement to vendors. Reconciliation: Reconcile accounts payable transactions with vendor statements. Expense Reporting: Prepare and analyze expense reports. Compliance: Ensure all payments comply with company policies and relevant regulations. Record Maintenance: Maintain accurate and up-to-date records of all payable transactions. Accounts Receivable (AR) Deliverables: Invoice Generation: Create and send customer invoices for goods and services. Payment Collection: Track and collect customer payments, including following up on overdue accounts. Account Reconciliation: Reconcile receivable accounts with customer statements. Reporting: Prepare financial reports summarizing receivables, including aging reports. Dispute Resolution: Address and resolve discrepancies or disputes related to customer accounts. Record Maintenance: Maintain accurate records of all receivable transactions.

Skills and tools

Accountant

Auditor

Bookkeeper