Group 11 provides a host of services that ensure records, accounting, payroll, and bookkeeping are organized and streamlined. Accounting & Bookkeeping Services include: Clean up of existing records, Bank and Credit Card Reconciliations, Accounts Receivable, Accounts Payable, Ledger assistance and Payroll Reporting.
Group 11′s Bill Pay service is provided through AICPA-approved Bill.com. Clients need not worry about missing another bill due date. Group 11 can automatically disperse funds on a pre-scheduled basis.
Group 11′s unique network of commercial banks and lenders provides financing opportunities to Group 11 clients. This alternative funding option is an ideal opportunity for clients who don’t have the required financial statements to secure loans from traditional banks. Group 11 can pair businesses with banks or lenders who specialize in financing specific ventures.
Group 11′s tax preparation services support businesses and individuals. This CPA-level analysis and preparation is cost efficient and technology friendly.
Through our affiliation with Talley & Company, Group 11 Advisors’ clients can benefit from complete tax planning and consulting services.
Group 11 Advisors can prepare clients’ required business returns, such as sales tax, personal property tax, business license tax, and other industry filings required. Certified Public Accountants review all filings prior to submission to the IRS.
New Business Formation
We can assist in the formation of a new business, including incorporation document preparation, processing an EIN, and resident agent services.
- “Clean Up” of existing recordsUpon initial engagement, Group 11 Advisors will assess clients’ current financial reporting records. If necessary, Group 11 will perform an on-site audit and “clean up” of records with the ultimate goal of transitioning records to an online system. This step isn’t always necessary, but should be implemented if recommended.
- Bank Reconciliations. On a monthly basis, Group 11 Advisors will reconcile clients’ bank accounts. Corresponding statements and reconciliation reports will be made available through the client portal. Group 11 suggests clients grant access to their accounts with “read only” privileges or that a copy of the statements be mailed directly to client’s Relationship Manager. Group 11 will not initiate any transactions without written consent from the client. For banking statements, outstanding items requiring resolution will be highlighted and any transactions that cannot be identified will be presented to the client on a separate schedule for clarification.
- Credit Card Reconciliations. Credit cards are reconciled on a monthly basis with a process similar to the bank reconciliation procedures.
- Accounts Receivable. Accounts Receivable reports for collection and cash flow management will be prepared and delivered to clients on a schedule of client’s choice. Finance charges are assessed on overdue invoices based on the client company’s payment terms and conditions and statements can be initiated and transmitted on a schedule of client’s choice.
- Accounts Payable. Group 11 can manage clients’ vendor invoices. Bills can be sent directly to Group 11 to be processed and updated in the QB Ledger. (See Bill Pay for more information.)
- General Ledger Assistance. Group 11 analyzes clients’ general ledgers to ensure clients’ financial health. Because every transaction flows through the general ledger, a minor problem can have a huge impact on all of the books. Group 11 reviews the general ledger system monthly to catch discrepancies before errors turn into major liabilities.
- Payroll Reporting. Group 11 offers comprehensive payroll services. Depending on clients’ specific requirements, Group 11 can make payroll entries that include: gross wages, employer taxes, as well as other payroll expenses and liabilities. The general ledger will be reconciled to payroll returns on a quarterly and annual basis.