Notes

Accounting & Bookkeeping Services

Bookkeeping Services
Payroll, accounts receivable & accounts payable, and preparation of financial statements are just some of the day to day bookkeeping services that can be provided by Finlay & Associates.

Accounts Receivable Management
We will process invoices, handle cash receipts, prepare and mail monthly statements and provide you with monthly aging reports. We will also reconcile your accounts receivable each month.

Accounts Payable Management
In addition to processing and prioritizing your payables, we will provide you with monthly aging reports and reconciliation of your payables.

Bank and Credit Card Reconciliation
All your bank and credit card statements will be reconciled each month. If you have internet features with any of your accounts, we can save you time by downloading them directly into your accounting system before reconciliation.

Month End Closing
In addition to reconciling your accounts payable and accounts receivable each month, we will also reconcile your other balance sheet accounts and review the income and expense accounts for accuracy. We will do any adjusting and recurring journal entries that need to be done.

Financial Statements and Management Reports
We will provide custom designed financial statements and management reports. Do you want previous year comparison statements, or current period and year to date comparisons? Tell us what bookkeeping reports you need and we will design them to your specifications.

Other day to day QuickBooks bookkeeping services include;

• Payroll preparation
• Monthly/quarterly payroll + HST filing
• Miscellaneous bookkeeping and administrative work

Year End Accounting
We can simplify things at the end of the year for you by conducting a year end review of your books and gathering the information for the annual audit and/or tax returns. This consists of, but is not limited to, analyzing the balance sheet and income and expense accounts, making any necessary adjustments and preparing schedules, with the appropriate backup, for all the balance sheet accounts.

Fixed Asset Management
Managing fixed assets can be a time-intensive process that you probably would like to forget about but can't afford to ignore. We can set up a fixed asset management system that is easy for you to use, or we can manage it for you. Fixed Asset Detail would include: purchase date, serial number, and manufacturer, as well as life of asset and depreciation method. Depreciation would be calculated monthly or annually. We can also project the depreciation expense for future periods. Accumulated depreciation and book value will also be calculated.

Cash Flow Projections
Cash management is crucial. When will your receivables come in? Are you paying your bills too quickly? Will you be able to meet next month's payroll? How much cash will you have in 3 months? Will you need a bank line of credit this year? Cash flow projections work in conjunction with your financial statements to provide the answers to these questions. Working closely with you, we will prepare cash flow projections that will alert you to any cash shortages that may lie ahead, providing you with enough time to develop appropriate strategies.

Other Accounting Services Include:

• Budgeting
• Inventory control
• Inventory analysis
• Interacting with outside auditors
• Overhaul existing accounting systems
• Accounting system setup on new and existing companies
• Implement record keeping and accounting procedures
• Business Planning
• Miscellaneous accounting and administration