Small Business Accounting

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definition TBP

definition TBP

definition TBP

definition TBP

definition TBP

definition TBP


BRONZE
SELF-MANAGED CLIENT
Maintain an accounting filing
Maintain the chart of account
 
 
 
 
 
 
 
 
 
 
 
 
 
SILVER
ALL INCLUDED IN BRONZE
Maintain the annual budget
 
Provide clerical and administrative support to management as requested
 
Conduct periodic reconciliations of all accounts to ensure their accuracy
 
 
 
 
 
 
 
 
 
 
GOLD
ALL INCLUDED IN SILVER
Calculate variances from the budget and report significant issues to management
 
Record cash receipts and make bank deposits
 
Issue financial statements
 
Pay any debt as it comes due for payment
 
Provide payroll support
 
 
 
 
 
 
PLATINUM
ALL INCLUDED IN GOLD
Pay supplier invoices in a timely manner
 
Take all reasonable discounts on supplier invoices
 
Monitor debt levels and compliance with debt covenants
 
Issue invoices to customers
 
Ensure that receivables are collected promptly
 
Conduct a monthly reconciliation of every bank account
 
Collect sales taxes from customers and remit them to the government
 
Calculate and issue financial analysis of the financial statements