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Business Process Services Provided
PLANNING
Budgeting for Operations; assistance in budget development
ADMINISTRATION OF FUNDS
Cash Management
Ensuring effective cash flow by maintaining a 2 month projection of receipts and disbursements
Investing excess cash in temporary investments
Banking Arrangements
Maintaining liaison with bank account manager
Disbursement of Companies Monies
Vendor invoice payment
Payroll
Credit and Collection Management
Vendor/ supplier credit inquiries
Records of client payment histories
Aging of receivables
Collection program (30-45-60 schedule)
Maintaining Group Insurance Plan
Collecting and remitting insurance premiums
ACCOUNTING AND CONTROL
Establishing Accounting Policies
Revenue realization
Expense recognition
Method of depreciation
Accounting for lease
Development and Reporting of Accounting Data
Customization of computerized accounting system
Recording sales and vendors invoices
Developing and entering schedule of monthly general journal entries
Instituting system of checks to maintain the integrity of account balances
Preparation of comparative monthly financial statements
Maintenance of source documentation records
Cost Accounting and Management Information Systems
Development of Time accounting model
Summary Reports of direct cost accumulated in project ledger
Time Utilization and Time Cost summary reports
PROTECTION OF ASSETS
Reconciliation of monthly bank statement
Reconciling and replenishing petty cash
TAX ADMINISTRATION
Preparation and submission of annual corporate income tax return
Maintenance of Schedule of Depreciation for accounting and income tax purposes
Remittance of monthly source deductions
Remittance of quarterly HST payments
EVALUATION AND CONSULTING
Advice on accounting and financial matters
Inquiries and research on ad hoc issues such as HST applicability, conversion of currency into US funds, liaising with and interpreting government rulings from CRA and HRSDC
Reviewing Accounting, Management and literature for trends, best-practices and procedures
Comparison of Performance with Operating Plans and Standards Variance analysis
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