Solutions - Core Bookkeeping & Daily Operations of CIS Accounting Services

  • Daily Transaction Recording: CIS Accounting Services Exactly records all sales, purchases, receipts, and payments into accounting software (e.g., QuickBooks, Sage, Zoho) to ensure every financial event is taken accurately and in a timely manner.
  • Accounts Receivable (AR) Management: CIS Accounting Services Generating and sending invoices, tracking customer payments, following up on overdue accounts, and managing the process of collecting funds owed to the business to maintain healthy cash flow.
  • Accounts Payable (AP) Management:  CIS Accounting Services Processing vendor invoices, verifying their accuracy, scheduling payments, and ensuring bills are paid on time to maintain good supplier relationships and avoid late fees.
  • Bank & Credit Card Reconciliations: CIS Accounting Services Comparing the firm’s internal financial records against monthly bank and credit card statements to identify and resolve any discrepancies, ensuring the cash balance is always correct.
  • Payroll Processing: calculating employee wages, deducting taxes and other withholdings, processing payments, and ensuring compliance with payroll tax regulations and reporting requirements.
  • Generating Key Financial Reports: CIS Accounting Services preparing essential reports like the Profit & Loss (Income) Statement, Balance Sheet, and Statement of Cash Flows to provide a clear snapshot of the business’s financial health and performance.
  • Management Reporting: CIS Accounting Services creating customized reports for business owners that track Key Performance Indicators (KPIs), departmental expenses, and project profitability to support strategic decision-making.
  • Cash Flow Forecasting & Monitoring: CIS Accounting Services projecting future cash inflows and outflows to help the business anticipate surpluses or shortfalls, plan for expenses, and ensure it has the liquidity to operate effectively.
  • Tax Preparation Support: CIS Accounting Services organizing and categorizing financial data throughout the year to provide a clean, accurate set of records for an accountant or tax preparer, simplifying the tax filing process and minimizing liability.
  • Sales Tax / VAT Filing: CIS Accounting Services calculating the sales tax or VAT collected from customers and paid to suppliers, and preparing and filing the necessary returns with the state or federal tax authority.
  • Financial Compliance Review: CIS Accounting Services ensuring the company’s bookkeeping practices adhere to relevant accounting standards and regulatory requirements, reducing the risk of penalties during an audit.
  • Basic Financial Advisory & Consulting: CIS Accounting Services interpreting financial reports with the business owner, explaining trends, identifying areas for cost reduction, and offering insights to improve profitability and financial stability.
  • Setting up Accounting Systems: CIS Accounting Services designing and implementing a structured chart of accounts and establishing efficient bookkeeping processes and software workflows for new businesses or those seeking to improve their systems.
  • Catch-Up & Clean-Up Bookkeeping: CIS Accounting Services bringing a company’s outdated, disorganized, or inaccurate financial records up to date, correcting errors, and reconciling accounts to create a reliable financial foundation.
  • Expense Management & Categorization: CIS Accounting Services reviewing business expenses, ensuring they are properly categorized and documented, and advising on which expenses are tax-deductible.
  • Fixed Assets Register Management: CIS Accounting Services tracking and recording the purchase, depreciation, and disposal of significant company assets like vehicles, equipment, and property.