Back Office Accounting
Back Office Accounting Services
MoneyPenny provides dedicated trained accountants to assist your firm in all aspects of accounting. We acknowledge that businesses would rather focus on driving their unique selling points than work on back-end finance and accounting, which is why our team of dedicated experts is more than ready to step in and handle your accounting needs for you.
Our team prides itself on our excellent outsourcing accounting services and has more than 35 years of combined experience. By availing of our back-office services, our team of CPAs and accounting professionals meet your company’s finance needs so you may focus on growing your business and providing quality service to your customers.
Conversion of Desktop to Cloud Accounting
The MoneyPenny accounting team specializes in using top accounting software to keep track of our clients’ financials effectively. With years of collective experience, our team can migrate your data from server to cloud applications seamlessly and without error.
- Historical Review of Accounting Application
- We go through current accounting files and report back what is done, what is needed, which documents are required, and any potential problems with data and the time required to fix and clean them.
- Audit of Existing Accounting Application
- We help determine whether an existing accounting application is well-suited for your business needs. We have detailed checklists for conversions and reviews for this.
- Accounting Software Integration and Implementation
- Historical Review of Accounting Application
- We go through current accounting files and report back what is done, what is needed, which documents are required, and any potential problems with data and the time required to fix and clean them.
- Audit of Existing Accounting Application
- We help determine whether an existing accounting application is well-suited for your business needs. We have detailed checklists for conversions and reviews for this.
- Accounting Software Integration and Implementation
Financial Reports
In running an effective business, it is vital to get clear financial insights through reports. However, in reality, many companies find it difficult to update and maintain their documents as they are often put off until the very last minute. At MoneyPenny, we provide outsourced financial reporting for business owners who need help managing their financial records. By choosing our team to handle your business recordkeeping, you save time and money by counting on our dedicated experts who will handle everything. Meanwhile, you can stay on top of your game and create informed decisions based on our services’ produced results and work towards strategies that help grow your business.
- Financial Statements
- Profit and Loss
- Balance Sheet
- Monthly Reconciliations
- Custom Financial Reports using Multiple KPI report applications.
Tax Returns and Strategy
MoneyPenny aims to solve your tax worries by creating the best tax strategy for your business. We acknowledge that tax preparation must be done with quality consulting from experts, which is why our team with 35 years of combined experiences in US and Canadian tax is more than ready to step in and help you.
- Tax Preparation
- We help companies prepare their taxes, including US Sales Tax Payroll Tax and GST/VAT preparation. We work with all tax software, both server and cloud applications, to do this.
- 1099 Creation
- We review, prepare, and, when needed, submit to State, Federal, and Vendors.
- Tax Preparation
- We help companies prepare their taxes, including US Sales Tax Payroll Tax and GST/VAT preparation. We work with all tax software, both server and cloud applications, to do this.
- 1099 Creation
- We review, prepare, and, when needed, submit to State, Federal, and Vendors.
Firm Administration Duties
At MoneyPenny, we can help streamline your business by providing back-office firm administration services. By doing so, you decrease costs by turning over administrative tasks to a specialized team capable of delivering excellent service.
- Document Organization and Cleanup
- Keeping documents organized and up-to-date could easily be brushed off in your company, especially if you focus on delivering front-end work. Our team can easily manage your documents on your behalf so that they are easily ready and accessible whenever you need them.
- Billing
- We acknowledge the importance of responsible billing and coding, and the demanding and challenging task it poses on a company. By outsourcing with us, you save time and money on overhead costs and are assured of quality service and a transparent billing process.
- Workflow Cleanup and Administration
- With an outsourced team, you expand your business’s productivity as the said team handles the administrative work. Our highly-specialized team can meet your unique needs and create a workflow process most suitable for your business.
- Payroll
- At MoneyPenny, we are capable of managing your payroll accounts for you. Depending on your need, our team of experts may also assist you in preparing documents for the payment of payroll taxes to avoid missed deadlines and penalties.
Accounts
MoneyPenny assists clients in managing their accounts and nurturing their client relationships. By properly maintaining and organizing your account data, we help you retain business with your clients and vendors and grow opportunities.
- Account(s) Review and Allocation
- To keep your business cost-effective, MoneyPenny reviews your existing account/s. Afterward, we are capable of processing your account/s allocation, shifting overhead costs to cost objects.
- Through allocation, costs are assigned to produce goods that appear in your business’ financial statements, either as the cost of goods sold or inventory assets. If used irresponsibly, cost allocations can cause incorrect management decisions.
- Accounts Payable Management
- This particular service is ideal for businesses that manage a large volume of bills. MoneyPenny manages your vendors, pays your bills, and gets the best deals for you.
- We prepare AP reports utilizing any accounting application and integrated AP apps such as Bill.com or Mineral Tree.
- Data Entry
- The MoneyPenny team transcribes written documents into digital data. We assist companies in Data Entry, be it in Excel, GL, or Word
- Account(s) Review and Allocation
- To keep your business cost-effective, MoneyPenny reviews your existing account/s. Afterward, we are capable of processing your account/s allocation, shifting overhead costs to cost objects.
- Through allocation, costs are assigned to produce goods that appear in your business’ financial statements, either as the cost of goods sold or inventory assets. If used irresponsibly, cost allocations can cause incorrect management decisions.
- Accounts Payable Management
- This particular service is ideal for businesses that manage a large volume of bills. MoneyPenny manages your vendors, pays your bills, and gets the best deals for you.
- We prepare AP reports utilizing any accounting application and integrated AP apps such as Bill.com or Mineral Tree.
- Data Entry
- The MoneyPenny team transcribes written documents into digital data. We assist companies in Data Entry, be it in Excel, GL, or Word
Accounting Apps We Work With
The MoneyPenny accounting team specializes in using accounting software to keep track of our clients’ financials effectively. Given years of collective experience, our team is capable of testing and reviewing your accounting app functionality. We have provided quality assurance services for a wide variety of applications, including general ledgers, expense management, time tracking, inventory, and more.
