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:

1. Breakdown of COGS vs. Expenses
2. Allocation of revenue to its categories
3. Book deferred revenue entries
4. 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)