Expense & Accounts Payable Management
At Supporting Strategies, our outsourced bookkeeping services will keep your books in order. When you receive a bill, Supporting Strategies will process it. We will administer your employees’ expense reports, issue and track vendor purchase orders, and track credit card expenses and receipts. And what about your independent contractors? We’ll manage the paperwork and prepare the 1099s for them as well.
Customer Invoicing, Accounts Receivable, and Revenue Recognition
A key part of your business is receiving timely payment for your products and services. Supporting Strategies can help you with customer invoicing, as well as with streamlining your collections processes to ensure for strong cash flow. In addition, we make sure to record your revenue accurately so you get timely information on your business’ performance.
A key to a successful business is to keep track of the numbers to see what parts of the business are working and what needs improvement. Supporting Strategies ensures all transactions are accurately captured in the books. In our month-end close and review process, we make necessary journal entry adjustments, reconcile balance sheet accounts and verify accuracy of income statements. We also support additional categorization, such as class or project accounting.
Supporting Strategies delivers a standard monthly financial package, including balance sheet, income statement and statement of cash flows. We also provide additional management reporting to meet client needs. This may include cash reporting, budget vs. actual analysis and/or a key performance indicators dashboard. We assist with preparing budgets and forecasts and provide analysis on performance against plan. In addition, we fulfill requests from your CPA and field and coordinate filings with state or other government agencies.
Supporting Strategies handles many aspects of payroll administration, including setup, processing, and journal entries and reconciliations. We also help with benefits administration, such as payroll deductions for benefit plans, paid and sick time-off tracking and monitoring retirement plan contributions and limits. In the area of employment assistance, we assist with new hire/termination coordination and manage the employee master file, including following up on missing information/documentation.