General Ledger
- Accrual entries are posted
- Accounts are reviewed for adjusting entries
Financial Statements
- Balance Sheet
- Income Statement
- Optional Cash Flow Statement
Accounts Receivable
- Revenue and receipts data is recorded in the general ledger
- Aging report is reconciled to the general ledger
- Bad debt allowance is calculated and recorded
Billing
- Claims are filed with intermediary and other amounts are billed
- Collections are monitored to determine and process follow-up billing
- Monthly reports are provided for amounts billed and collected
Bank Reconciliations
- Transactions not included from other subsidiary systems are recorded in the general ledger
- Reconciliations are prepared and verified to the general ledger
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Accounts Payable
- Invoice/expense data is recorded in the general ledger
- Vendor payments are remitted
- Paid bills files are maintained
- Payments data is recorded in the general ledger
- Monthly reports are provided
- Aging report is reconciled to the general ledger
- 1099s are prepared
Payroll
- Expenses and liabilities for wages and taxes are recorded in the general ledger
- Payroll checks are printed and sent via overnight courier
- Federal and state tax liability amounts are remitted
- Federal and state tax reports are filed
- Payroll related accounts are reconciled
- General ledger wages and taxes are reconciled to the taxing authority reports filed
Fixed/Intangible Assets
- Monthly depreciation, amortization is calculated and recorded in general ledger
- Monthly report is provided
- Reported asset and accumulated depreciation, amortization account balances are verified to the general ledger
Other
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