Outsourced Accounting & Payroll Services

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OBJECTIVE

The objective of this engagement is to deliver comprehensive accounting support, streamline financial operations, and ensure compliance with applicable regulations. The services provided will be tailored to meet the unique needs of the client.

SERVICES PROVIDED

The following services will be performed by CFO Plus, LLC:

    1. Five (5) hours of Fractional CFO Services per month.

    2. Work closely with your team to manage financial strategies, optimize cash flow, and guide your business toward long-term success.scription

    1. Record all financial transactions, including sales, purchases, receipts, and payments.

    2. Maintain general ledger accounts.

    3. Reconcile bank accounts and credit card statements monthly.

    4. Manage accounts payable and accounts receivable.

    1. Process payroll on a bi-weekly, semi-monthly, or monthly basis, as required.

    2. Ensure compliance with federal, state, and local payroll tax regulations.

    3. Prepare and file all necessary payroll tax forms (e.g., W-2, 1099, and quarterly filings).

    1. Perform month-end closing activities, including journal entries, reconciliations, and adjustments.

    2. Conduct year-end closing and prepare necessary documentation for external auditors or tax preparers.

    1. Prepare monthly, quarterly, and annual financial statements, including balance sheets, income statements, and cash flow statements.

    2. Provide customized financial reports as required by management.

    3. Assist with the preparation of financial statements for tax reporting purposes.

    1. Provide guidance on tax planning strategies to minimize tax liabilities.

    2. Respond to any tax notices and assist with tax audits if needed.

    1. Assist in the preparation of documents and schedules required for external audits.

    2. Act as a liaison between the client and external auditors.

    1. Assist with the preparation of annual budgets and periodic forecasts.

    2. Provide variance analysis and financial insights to support strategic decision-making.

    1. Evaluate existing internal controls and recommend improvements.

    2. Ensure compliance with relevant accounting standards and regulations.

    3. Implement and monitor controls to safeguard assets and prevent fraud.

DELIVERABLES

The following deliverables will be provided as part of the outsourced accounting services:

  1. Monthly financial statements and management reports.

  2. Quarterly tax filings and compliance reports.

  3. Annual financial statements.

  4. Customized financial analyses and ad-hoc reports upon request.

  5. Regular updates and consultations with management regarding financial performance

ROLES AND RESPONSIBILITIES

    1. Provide all services listed above with professionalism, accuracy, and in a timely manner.

    2. Maintain confidentiality of all financial data and adhere to privacy policies.

    3. Ensure compliance with all relevant accounting standards and regulations.

    1. Provide timely access to financial documents, records, and data required for accounting services.

    2. Designate a point of contact to facilitate communication and provide information.

    3. Approve and authorize payments and other financial transactions as necessary.

SERVICE LEVEL AGREEMENT

  1. Response Time: CFO Plus, LLC will respond to any inquiries or requests within 1 business days.

  2. Reporting Frequency: Monthly financial reports will be delivered by the 7th of each month, and quarterly reports by the 7th of each quarter.

  3. Confidentiality: CFO Plus, LLC will maintain strict confidentiality of all client data and information.