Monitor, maintain & oversee all day to day treasury functions for 2 bank accounts.
Monitor remote deposits & credit card receipts entered by Amanda.
Prepare monthly bank rec’s.
Prepare cash flow forecasts & projections, as needed.
Transfer cash between Operating & MM accounts as needed.
Set up wires (international) and online payments (FedX, Capizmo, etc) as needed.
Research & resolve any banking issues that might arise.
Close supervision of Amanda. Assist as needed when credits or adjustments to customer invoices are required. Ensure no late adjustments are made after accounting month has been closed.
Balance A/R & customer prepayments on a monthly basis.
Monitor > 90 day A/R balances to ensure collection.
Perform detail review of all customer A/R balances at year-end; research & resolve any balances that may be incorrect.
Prepaid Expenses –
Prepare & maintain a detail spreadsheet of all expenses that relate to future periods. Amortize either monthly (straight line) or as product ships. Expenses tracked are:
Direct mail expenses
Graphic art expenses
Balance detail spreadsheet to GL monthly.
A/P (General) –
Review & approve all invoices.
Enter & cut A/P checks weekly.
Line of Credit –
Monitor cash to determine timing of LOC needs for the year.
Prepare note document & interest calculations – if stockholder makes the loan.
Review & maintain LOC documentation – if bank makes the loan. Monitor all interest calculations and payments made to outside bank.
Determine LOC repayment timing & schedule.
Act as administrator for database.
Setup new database each year.
Revise imbedded formulas when necessary.
Assist in setup of any new reports needed for accounting purposes. Edit reports as needed.
Supervise entry of freight, binding & docuteching invoices into QB – done typically by Amanda. Reports are then generated & used to balance to the vendors’ invoices. Any discrepancies must be resolved.
Closely review final QB reports & vendor invoices to ensure billings are correct.
Once invoice totals are verified, enter invoices (typically by QB batch) into A/P.
Breakeven Spreadsheet –
Prepare spreadsheet annually that projects breakeven & profit.
Must be updated at the beginning of each year for all detail components: sales price/book, variable costs/books (binding, docuteching & freight), fixed costs (inventory purchased) and G & A expenses. Update periodically throughout the year as needed.
Sales – As per GAAP, sales are booked once the product actually ships.
Close supervision of Amanda who turns sales orders to invoices once books ship (via Quickbase weekly and monthly reports).
Monitor sales spreadsheet prepared by Tina. Assist as requested. Annually, set up new spreadsheet template for Amanda.
Freight Income –
Monitor closely throughout the year to ensure that per book rates are reasonable & in line with current projected rates.
** Rasch binding – all invoices are entered into QBase by Amanda (usually) and amounts billed agreed to QB formulas. Any discrepancies are investigated & resolved. Invoices are then entered into A/P system by batch.
** ACM docuteching – monthly invoices are entered into QB (using FTP date) by either Amanda or me and billed amounts are agreed to QB formulas. Any discrepancies are investigated & resolved.
** Freight billings – again entered individually into QBase by Amanda or me and billed amounts are agreed to freight quote, etc. Any discrepancies are investigated. Entered into A/P system in batches for LTL shipments (R & L, Daylight, etc).
FEDX invoices – billed biweekly. Spreadsheet is exported from their website, then condensed, sorted & summarized by CS order #, then entered into QBase. Amount billed needs to be reviewed closely and compared to benchmark rates, etc in QBase. However, small parcel shipments are typically more expensive than LTL rates and quotes are not entered into QB by shipping.
Closely monitor, on a monthly basis, expenses per book (printing, binding, docuteching, accessories & freight) to ensure that rates/book are close to projected rates/book.
G & A expenses –
Monitor invoices for accuracy when received & again on a monthly basis.
Lump-sum payments (of $60K) are made throughout the busy season to Rasch Graphics.
Must balance A/P with Randy Rasch on a monthly basis to ensure we are in agreement.
Financial Statements –
Close review of all balance sheet accounts & all related subsidiary reports. Ensure that all balance to the GL.
Close review of revenue & expense accounts.
For sales & COGS, ensure that the per book rates are in line with projections. Investigate any that are not.
For G & A, review for reasonableness & comparability. Research any that do not appear reasonable & comparable to prior year(s) and/or current year projections.
Prepare all monthly journal entries & post to Sage system.
Book all necessary accruals.
Prepare & finalize monthly financial statements.
Using Insperity Isolved software, process & transmit semi-monthly payroll for all salaried employees.
Review & process overtime & commissions as needed.
Print & maintain all payroll reports. Enter payroll into Sage via journal entry.
Income Taxes –
Make all quarterly estimated tax payments as required (via EFTPS system).
Federal/State – Coordinate w/outside CPA firm in preparation of both Federal & State (Texas, New Jersey) tax returns to ensure accurate & timely completion.
Upload all necessary documents to CPA’s online portal.
Close review of all returns once draft is received. Address any questions that CPA firm may have.
401K Plan –
Monitor, maintain & oversee all functions of the plan.
Closely review Form 5500 annually prepared by Ubiquity to ensure accuracy. DOL requires Plan Administrator to sign by July 31st at the latest. Done via Ubiquity online portal.
Oversee any EE withdrawals (after termination) and RMD’s.
Annual renewal of ERISA bond, as required.
Year – End Procedures –
Prepare all 1099’s required (MISCs, INTs and DIVs) as well as 1096 transmittals.
Review of W-2’s & W-3 as generated by Insperity.
Prepare annual sales tax return (state of TX) – due 3rd week of January
Prepare HCAD Personal Property Rendition – due 4/15 of each year.
Document annual Board of Directors’ meeting and file in corporate records.
Assist Tina w/rollover of her Sales Spreadsheet.
Shareholder Dividends –
Coordinate w/Jim Ogg on the calculation & the payment of annual dividends to shareholders.
Prepare spreadsheet to ensure proper allocation to each individual shareholder.
Maintain accurate shareholder addresses.
Corporate Records –
Maintain all permanent files for corporate business.
Maintain shareholder minutes, stock transfer ledger, etc.
Maintain all employee files.
Other Misc –
Special projects for Jim – various spreadsheets and/or calculations as needed or requested.
About Coole School, Inc.
22 year old publisher/distributor. We produce and distribute a collection of interactive day planners for grades K-12.
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