In our Monthly Review and Oversight service model, Crowe Jamaica will provide assistance to management and the existing bookkeeping staff on a monthly basis. Specifically, we will assume responsibility for review of all transactional activity, formally closing the books each month and preparation of monthly financial statements for management.
Review & Adjust Posting of Monthly Transactions
- Cash
- Accounts Receivable
- Accounts Payable
- Business Expenditures (Credit Card)
- Payroll
- Loans/Leases
Coordinate & Oversee Month-End Closing
- Prepare bank reconciliations for all accounts (as needed)
- Reconcile all other balance sheet accounts
- Maintain fixed asset/depreciation records
- Reconcile payroll and payroll taxes
- Review deferred revenue
- Analyze all revenue and expense accounts
- Prepare and record adjusting journal entries (as needed)
- Prepare adjusted trial balance and supporting documentation (e-work papers)
- Maintain detailed general ledger
Monthly Financial Reporting
- Prepare balance sheet
- Prepare statement of income/(loss)
- Current month
- Year-to-date
- Budget vs. actual (if applicable)
- Prior period comparisons
- Prepare customized financial reporting (as needed)
Regulatory Compliance
- Ensure financial regulatory compliance with Federal, State, and Local entities in the following areas;
- Payroll
- Sales Tax
- Property Taxes
Management Services
- Meet with management as needed, to review financial results, discuss strategic opportunities and other matters of importance
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