How We Offer Our Accounting Services:
1. Full Performance:
GrowthProfit Inc. will perform all of the accounting processing and reporting requirements for the client. By coordination with your contact, we process all source documents, produce all accounting reports, produce accounts payable vendor checks and perform payroll duties including check production and or employee direct deposits, tax, filling, tax impounds and ACH activities.
2. Participative:
In this method the staff of GrowthProfit Inc. and our client’s staff can participate in processing accounting transactions. It is similar to the Full Performance except that it allows the client to use their accounting staff to participate in the accounting process along with our staff. The client staff will still use our Cloud accounting system.
Action Plan
Option 1:
We’ll prepare a budget with client and determine the level of monthly/yearly expenses including payroll. Client will set up a separate bank account where money will be deposited for vendor, payroll, and other check payments. We will be made signatories to the account. Deposits into that account will be used to pay for only approved vendor checks. It will serve only as a cost center account. Clients will not use that account for any other purpose but to pay vendor invoices and payroll. Clients will authorize vendors to send the source documents direct through Bill.com. All source documents we process will be attached to the entries within the accounting system for client to view and approve.
Client Responsibility for source documents:
Client has the responsibility to ensure that the source documents get to us on time, either through the mail, email or by fax, or through our Client Portal.
We have provided a secure Client Portal that comes FREE with the service for clients to use. We will train client staff to use that system free of charge.