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. To ensure your financial information is accurate, Supporting Strategies will perform a monthly closing process to make sure everything is accounted for and will post month-end adjusting entries. We’ll manage inventory activity, manage credit card payment activity, and track customer profitability.
Supporting Strategies provides financial reports that will enable you to make better business decisions. At Supporting Strategies, our outsourced bookkeeping services include creating financial reports such as Profit & Loss Statements, Income Statements, Balance Sheets, and Cash Flow Statements. And we not only create financial reports for you, we’ll help you understand them. We provide budget versus actual performance analysis and a weekly cash flash—a tool that helps you manage your business’ cash flow.
As part of our outsourced bookkeeping services, Supporting Strategies serves as your payroll administrator. We take care of paying your employees, including those on salary as well as those paid by the hour, and can also manage and process sales commissions and bonuses. Your Supporting Strategies team will answer your employees’ questions about how much paid time off they have remaining or how many sick days they have used. When you hire a new employee or when an existing employee leaves, Supporting Strategies manages the process and takes care of the paperwork—all in accordance with your company’s payroll and HR policies.