Services

As part of our Corporate Accounting Services, Mint Accounting LLC offers a wide range of services. Our firm has the resources to assist you in addressing your immediate concerns, as well as meet your future needs. Our commitment to client service ensures that our full spectrum of client services is available as needed. Our firm can help you with the following business needs and more:

Depending upon your situation, your resources may be most efficiently used by outsourcing some or all your bookkeeping needs. We can do everything from servicing your bookkeeping needs in their entirety to reviewing your records on a monthly or quarterly basis.

  • Accounting for transactions - Bank receipt and payment, cash Receipt and payment, Purchase Invoice, Sales Invoice, debit note, credit note, Journal entries, Rectification of journal entries.

  • Preparation of Financial statements - Income statements, Balance sheet and cash flow

  • Preparation and Reconciliation of Subsidiary Ledgers with General Ledger

  • Bank reconciliations

  • Generation and Trial balance reconciliation

  • Accounts payable and receivable

  • Custom financial reports

  • Company's performance review

  • Income tax planning and preparation

  • Cash flow forecasting

  • Break-even analysis

  • Variable and fixed expense reports

  • Debt planning and reduction

We ensure that the company receives payments for sales, and record these transactions accordingly. It includes securing revenue by verifying and posting receipts and resolving any discrepancies.

  • Receivable is recorded in A/R control account in the GL and subsidiary ledger. Periodically, evaluated by an independent person to reconcile two records.

  • Updating receivables by unpaid invoices and following up on payments.

  • Verifying validity of account discrepancies by obtaining and investigating information from sales, trade promotions, customer service departments, and from customers;

  • Resolving valid or authorized deductions by entering adjusting entries

  • Generation and Trial balance reconciliation

  • Preparation of Aging schedule for aged receivables and the same is analyzed by credit department for use in carrying out its collection program

  • Resolving collections by examining customer payment plans, payment history, credit line; coordinating contact with collections department.

  • Summarizing receivables by maintaining invoice accounts; coordinating monthly transfer to accounts receivable account; verifying totals; preparing report.

We organize and maintain vendor contact information, payment terms and other information. Internal controls determine whether the A/P process starts with a pre-approved purchase order or whether accounts payable verifies purchases after a purchase is made. Vendor payments also include the end-of-month aging analysis reports that tell business owners and the management team how much the business currently owes vendors.

  • We primarily take charge of paying the entity’s bills on a timely basis. This is important so that strong credit and long-term relationship with the vendors can be maintained.

  • The organized accounts payable process ensures that all the invoices due are tracked and paid properly. This will help avoid missing payments and making a payment twice

  • We check the bills for details: The vendor’s name, authorizations, date, and requirements raised with the vendor based on the purchase order can be verified too.

  • Updating the records for the bills received

  • Before approving the invoice for payment, reconciliation is done for invoice, purchase order/ receiving reports to ensure that invoice amount is correct.

Treasury involves the management of money and financial risks in a business. The priority is to ensure the business has the money it needs to manage its day-to-day business obligations. It also aims to ensure there is enough cash available to meet future liabilities. To do this successfully, the function analyses the risks that might impact the flow of cash.

  • Cash forecasting: Compile information from around the company to create an ongoing cash forecast. This information may come from the accounting records, the budget, board minutes (for dividend payments) and even the CFO (for expenditures related to acquisitions and divestitures)

  • Working capital monitoring: Review the corporate policies related to working capital, and model their impact on cash flows. For example, looser credit results in a larger investment in accounts receivable, which consumes cash

  • Cash concentration: Create a system for funneling cash into a centralized investment account, from which cash can be most effectively invested.

  • Advise management on the liquidity aspects of its short- and long-range planning

  • Make payments to vendors using ACH, Bill Pay, or Wire transfers

We evaluate the financial needs of an organization, develop budget strategies to increase the company’s profitability. We design and implement the company’s financial plans to ensure business growth. The role involves preparing budget reports, presenting recommendations to director, and monitoring actual expenses against budgets.

  • We observe financial trends within the organization’s expenses and within departmental budgets to control spending where possible to ensure all operations are within budget and adjust budgets as needed after approval from the client.

  • Ensures that budgets are executed in accordance with generally accepted accounting practices.

  • Identify variances between actual and budgeted financial results at the end of each reporting period

We collect timekeeping information of employees/contractors, manage benefit packages (if any) with payroll software and calculate salary and contract payments according to the hours worked. We manage any employee queries regarding payroll and investigate and resolve any errors in payroll in a timely manner.

  • Verity timekeeping records and consult employees about any discrepancies

  • Record payroll data in software system and verify all amounts prior to cutting checks

  • Cash concentration: Create a system for funneling cash into a centralized investment account, from which cash can be most effectively invested.

  • Record employee complaints, questions and concerns about payroll services and communicate those issues to HR manager

  • Update payroll records by entering changes in exemptions, insurance coverage, savings deductions, and job title and department/division transfers.

  • Prepare reports by compiling summaries of earnings, taxes, deductions, leave, disability, and nontaxable wages

  • Determine payroll liabilities by calculating employee federal and state income and social security taxes and employer's social security, unemployment, and workers compensation payments.

  • Collect and summarize timekeeping information

  • Obtain supervisory approval of time card discrepancies

  • Obtain overtime approvals and calculate commissions

  • Process and close periodic payrolls

  • Process and issue annual W-2 forms to employees

  • Process and distribute reports for compensation, taxes paid, garnishments and deductions

We prepare and file state and federal tax returns/forms. In addition, we develop tax strategies and policies that help the client or business maintain compliance with local and federal tax laws and regulations. Lastly, they work to identify tax problems and propose solutions.

  • Facilitate and manage the preparation and review company federal tax returns and the accurate, timely filing of all tax forms.

  • Manage and facilitate IRS income tax audits: prepare responses, create schedules, etc.

  • Provide support with various internal audits, external auditors and special tax related projects.

  • Review tax returns and quarterly/yearly tax projections.

We ensure the timely and accurate delivery of financial statements and reporting. We review the books of account and confirm that records of expenditures and profits of a business are correct. In the event of any misappropriation of funds, evidenced by financial records, the matter is reported to management for redressal.

  • Establish financial status by developing and implementing systems for collecting, analyzing, verifying, reporting financial information, and managing accounting staff.

  • Confirm financial status by monitoring revenue and expenses; coordinating the collection, consolidation, and evaluation of financial data; and preparing special reports.

  • Maintain accounting controls by establishing a chart of accounts and defining accounting policies and procedures.

  • Avoid legal challenges by understanding current and proposed legislation, enforcing accounting regulations, and recommending new procedures.

  • Oversee and manage the general accounting functions, including, but not limited to accounts payable, accounts receivable, general ledger, and taxes.

  • Help with quarterly and year-end financial audit activities and the annual corporate financial controls audit.

  • Prepare, review, and analyze financial statements to ensure accuracy and completeness.

  • Supervise and/or manage general ledger accounting functions.

  • Work with external auditors to ensure correct and timely closing at year-end.

We monitor and analyze the financial reports of a company. Our responsibilities include processing audit requests and ensuring compliance with tax regulations.

  • Conduct remote audits of External Vendors.

  • Summarize and deliver audit results and written recommendations to the entity.

  • Facilitate and resolve the remediation of medium and high-risk audit findings identified through onsite and online audit which includes constant communication and follow-up with the company.

  • Assist and provide guidance to the organization with audit related concerns or issues.

  • Online tracking of project progress, multiple role-based user management

  • Use of cloud technology 100% for complete flexibility and mobility

  • Complete implementation of the technology tools

  • Project management tools – JIRA, Monday.com, Trello

  • Book-keeping – QuickBooks, Xero, Intacct

  • Treasury – banks of your choice, or we can help open the a/c with a national bank

  • Bill pay – Expensify, bill.com

  • A/R – ACH via bank, credit card payment integration using Stripe, PayPal, Authorize.net