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Oct 11Tim McLellan

Monthly Services for Flooring Dealers

Oct 11Tim McLellan

Monthly Service Offering to Flooring Dealers

Work in Process (WIP) Analysis and Review –Review all open jobs on a monthly basis to indentify unusual items in WIP.  Discuss identified items with management and make necessary corrections for accurate financial and operational reporting.

Assistance and Review with Monthly Sales Commission Calculation.  Assure that payments to salespeople are correct, as well as Commission Expense and Commission Accrual.  Assistance with designing Commissions Plans and what if analysis.

Review all Income Statement accounts each month for unusual transactions.  Discuss with management and make corrections where necessary.

Review and / or prepare account reconciliations for all Balance Sheet accounts.   Make adjustments to General Ledger if required.

Review Monthly Sales Tax Calculations and Payments.

Prepare Monthly Financial Statements for Bank, Bonding Company and other 3rd parties as requested.  Statements will be prepared by the 15th of the following month. 

Provide monthly analytical comments on Operating Results.

Prepare annual budget and quarterly projections.

Income Taxes – Provide tax planning advice to minimized taxes due.  Assistance in calculation of quarterly estimated tax payments to the IRS and State.

Assistance with the selection, procurement, and implementation of the following items on an as needed basis:

 

   Computer Hardware                                      Computer Software

   Payroll Systems                                                Health Insurance and  Benefits

   General Insurance                                          Bonding

   Banking Relationships                                   Business Financing

   Exit Planning – Meeting both Short Term and Long Term Objectives

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