Accounting solutions provides client with services ranging from full-service accounting, setting up accounting systems, to providing segments of the accounting process such as general ledger, accounts receivable, accounts payable, and etc.
- Accounting solutions are designed in accordance to Generally Accepted Accounting Principles, GAAP.
- Full-Service Accounting performs the functions of the accounting department. This consists of recording and processing accounting transaction and reporting the financial information of client organizations in accordance with GAAP, Generally Accepted Accounting Principles. This includes applying the appropriate accounting principles when classifying, recording, and reporting accounting information.
- General Ledger System involves setting up financial accounts, reconciling other accounting segments and performing the process involved in the accounting cycle.
- Accounts Receivables System process the client’s sales to customers on account. The system records customer invoices, and post invoice amounts to individual customer accounts, and record the transactions as sales and account receivable in the financial records. The system also monitors and process customer payments. It also applies accounting principle to properly report the value of receivables. An Invoicing system can be implemented with the AR system.
- Other Receivables System process amounts due to the client organization which are not part of the client’s principal business operations. These receivables include notes receivables, employee advances, and other obligations. Again, accounting principles are applied to properly valuate and report these receivables.
- Inventory System tracks and monitor the sales and purchases of inventory. It uses accounting principles to valuate inventory and determine the cost of goods sold. The system can be tied into an invoice and purchasing system to process inventory transactions.
- Accounting System Design and Implementation works with clients to set up custom designed accounting systems to suitable to their industry and unique needs.