Complete Accounting and Financial Services
Our Complete Accounting and Financial Services is designed to complete your daily financial record-keeping tasks as well as your month-end closing tasks, followed by preparation of your monthly financial reports and analysis of your business
We want you to feel confident that your accounting system accurately reflects your current situation so you can concentrate on running your business instead of trying to stay on top of your books. The steps involved with basic bookkeeping can be overwhelming depending on the size of your business and the number of transactions. If you no longer feel like you have control of your books, give us a call. We provide the following Accounting Services

• Accounts Payable
  

  • Input vendor invoices to payable system
  • Classify invoices to the proper G/L account
  • Maintain vendor master files
  • Respond to vendor inquiries about payment status
  • Retrieve copies of payments as necessary
  • Process requests for stop payments when necessary
  • Cut checks to vendors based on due dates or client instruction
  • reconcile vendor statements to accounts payable ledger
  • Reporting to organization on detailed aged payables and cash requirements
• Accounts Receivable
  
  • billings prepared as needed by Hofinsoft and mailed out (all billings provided to Client for approval prior to mailing)
  • Record and account for revenue
  • Input receivable transactions into the accounting system
  • Prepare and deliver periodic statements
  • Issue client-approved credit memos and refund checks
  • Maintain subsidiary receivables ledger
  • Process client-approved adjustments
  • Apply cash received to customer accounts and resolve “short pays”
  • Light phone collections as needed by client
  • Client to photocopy checks and provide to Hofinsoft
  • Client to prepare deposit slips (provide to Hofinsoft) and make bank deposits
  • General Accounting
• Cash Management
  
  • Process daily sales and deposit reports
  • Verify daily deposits and report variances
  • Reconcile and verify credit card deposits
  • Reconcile monthly bank statements
  • Inventory
  • Client to provide Hofinsoft with a listing of all product numbers in inventory and a count of the number of each product. Hofinsoft can assist Client in obtaining this information
  • Client to provide reports of inventory sold and inventory purchased (exact method determined by individual client needs and systems)
  • Annual physical inventory to be taken by client with Hofinsoft assistance. ProPart to reconcile physical inventories to accounting system inventory and prepares any adjustments necessary.
• Fixed Assets
  
  • Classify, capitalize, and record fixed assets items and capital expenditures (additions, transfers, retirements) Calculate and record depreciation and amortization Maintain depreciation schedules
• Financial Reporting
  
  • Balance sheet and income statement compared to budget provided 10 calendar days after each month-end
  • Accounts Payable and Accounts Receivable aging provided after each check run
  • Reports are customized for Client’s specific requirements Provide a “Mock’ profit and loss statement and Balance sheet just prior to period closing and discuss variances with client
  • Provide weekly sales and ranking reports
  • Handle escheatment as instructed by client
• Quarterly Tax Filing
  
  • Sales and use tax filings (for some clients this may be monthly for city business license and tax filings) Payroll tax filings (941)
• Payroll
  • Time cards, after approval, will be scanned and uploaded to Hofinsoft prior to payday
  • Hofinsoft completes payroll and client prints, signs and distributes paychecks
  • Prepare employee earnings statements complete with current pay period and year-to-date wages, taxes, and adjustments
  • Prepare department summaries of month-to-date payroll data in addition to customized reports specific to Client
  • Prepares timely and accurate notifications of tax liabilities and deposits
  • Respond to requests for employee verifications
  • Process and submit garnishment payments
  • Respond to employee payroll inquiries
  • Allocate payroll expenses for multi-store employees
  • Prepare and process payroll accruals when necessary.