1. Virtual Accounting Coaching
Duration – 10 hours on a zoom call, which involves a 2- hour session, over a five- day period, at the convenience of the business owner. The client’s business is used as the case study, and challenges with the business (outside of accounting), are also addressed briefly.
Topics to be covered:
1. Accrual Concept
2. The Types of Accounts
3. Inventory Management
4. Accounts Payable Management
5. Accounts Receivable Management
6. Tracking of all Income
7. Computation of Gross Margin/Product
8. Tracking of all Expenses
9. A Loan Repayment Schedule
10. A Capital Contribution Schedule
11. A Fixed Assets Schedule
12. Using the Profit & Loss Account as a Simple Budgeting Tool
13. A Salary Schedule (with Computations of Personal Income Tax and Pension Contribution)
14. Understanding the Workings of the Profit & Loss Account
15. Understanding the Workings of the Balance Sheet
16. Understanding the Workings of the Cash Flow Statement
17. Accounting Ratios and their Significance in Making Business Decisions
18. Issues relating to company tax
2. Virtual support to set up the business books and accounts on an on-line accounting software
The business is appraised to determine a suitable software. Clients who require a desktop application for their business operations, are referred to a local vendor, who will handle the set-up and training.
Kuhl-Cher will set up the books of businesses, on an accounting software, and train the business owner. A software is recommended, based on the peculiarities of the business. Our focus is on; QuickBooks, Zoho Books, Zoho Inventory, FreshBooks, and Xero.
3. Annual Technical Support to the Business Owner (Virtual)
1. Posting of complex entries; such as fixed assets purchase, depreciation, and disposal of assets.
2. Helping the business owner navigate the accounting software, when there’s a
3. Payroll support, to ensure accuracy of deductions and postings.
4. Interpretation of accounting reports.
5. Business advisory services