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Pilot Plus (+ AP weekly) Scope of Work
Deliverables
Accrual-basis bookkeeping in QuickBooks Online (QBO) updated monthly
Reconcile banks and credit cards against their statements
Categorize transactions & maintain chart of accounts
Coding of expenses by class:
Breakdown of COGS vs. Expenses
Allocation of revenue to its categories
Book deferred revenue entries
Identify and handle prepaid expenses (e.g. annual subscriptions)
Record payroll journal entries in QBO to reflect the payroll you’ve paid, reconciled against your payroll processor’s data
Monitor & reconcile expense reporting integration from an expense reporting tool
Reconcile invoices from e.g. QBO, bill.com, etc.
Capitalize and depreciate any fixed assets
Generate a monthly report which includes the Profit and Loss, Balance Sheet, and Statement of Cash Flows
Account manager will email you draft books with any questions/notes from doing the bookkeeping work, and will update books accordingly
Processing accounts payable, weekly, in bill.com (the workflow must involve bill.com ONLY)
Other notes
You’ll have a dedicated account manager that is a full-time employee, based in Pilot’s office
You can communicate with your account manager as much as you need
All the deliverables are included in the flat subscription rate (not billed hourly)
Your Pilot account manager can work closely with your tax preparer to get them the information they need to prepare your tax returns
There is no limit on the number of monthly transactions or account connections
We can provide information and recommendations about software systems (e.g. payroll, expense reporting, etc) useful in running your business
Subscription does
not
include
Payroll processing (we don’t initiate the payroll runs, for either employees or contractors)
HR management
Tax preparation (
Pilot Tax
is available at an additional charge.)
Making any tax/compliance/regulatory filings
Computation of sales tax liability (per-state or otherwise)
Preparation of 1099s
Collection of vendor W-9s
Collections/following up with customers
Subscription fee for any software products (e.g. QBO, bill.com, Expensify, Gusto, etc.)
Marking invoices as paid more than 1x/month (available at additional cost)