Accounting and Bookkeeping Services. A) General Ledger Maintenance
1) Establish and maintain Client’s general ledger per the State Standardized Account Code Structure. ExED will monitor and edit revenue and expenditure account code structure, add program and location codes when needed, and perform all other regular maintenance.
B) Bookkeeping
1) Record all transactions into accounting system with appropriate coding to enable the required reporting.
C) Balance Sheet Reconciliation
1) Perform monthly reconciliation of all bank statements. Quarterly perform reconciliation of remaining balance sheet accounts: Prepaid/Deposits, Accounts Receivable, Accounts Payable, Payroll Liability, Debt/Loans, and any Other Asset or Liability Item. Record monthly depreciation entries and update asset values for items such as property, equipment, and furniture.
D) Accounts Payable
1) Process vendor invoices for payments, including: verify approval of payment, determine cash flow availability, verify non-duplication of payment, log appropriate accounting entries, produce check payments, and verify check security. ExED will process vendor invoices approved for payment on a schedule to be determined in consultation with the Client. At a minimum, ExED will process vendor invoices once per week. Any discrepancies will be reported to the Client within three business days of ExED becoming aware of the discrepancy.
Accounting and Bookkeeping Services. A) General Ledger Maintenance
1) Establish and maintain general ledger for each Related Client with economic activity. ExED will monitor and edit revenue and expenditure account code structure, add program and location codes when needed, and perform all other regular maintenance.
B) Bookkeeping
1) Record all transactions into accounting system with appropriate coding to enable the required reporting.
C) Balance Sheet Reconciliation
1) Perform quarterly reconciliation of all bank statements. Perform quarterly reconciliation of remaining balance sheet accounts: Prepaid, Accounts Receivable, Accounts Payable, Debt/Loans, and any Other Asset or Liability Items.
2) Record depreciation entries and update asset values for items such as property, equipment, and furniture.
D) Accounts Payable
1) Process
(i) regular payments to each Lender identified in Part 1 of this Schedule A, as and when due, and (ii) periodic vendor invoices for payments, including: verify approval of payment, determine cash flow availability, verify non-duplication of payment, log appropriate accounting entries, produce check payments, and verify check security. ExED will process vendor invoices approved for payment on a schedule to be determined in consultation with the Related Client. Any discrepancies will be reported to the Related Client within three business days of ExED becoming aware of the discrepancy.
Accounting and Bookkeeping Services. A) General Ledger Maintenance
1) Establish and maintain Client’s general ledger per the account codes mandated by the California Department of Education. ExED will monitor and edit revenue and expenditure account code structure, add program and location codes when needed, and perform all other regular maintenance.
B) Bookkeeping
1) Record all transactions into accounting system with appropriate coding to enable the required reporting.
C) Balance Sheet Reconciliation
1) Perform monthly reconciliation of all bank statements. Quarterly perform reconciliation of remaining balance sheet accounts: Prepaid/Deposits, Accounts Receivable, Accounts Payable, Payroll Liability, Debt/Loans, and any Other Asset or Liability Item. Record monthly depreciation entries and update asset values for capitalized items.
D) Accounts Payable
1) Process vendor invoices for payments, in accordance with Client fiscal policies.
2) Complete 1099s for independent contractors.
E) Accounts Receivable
1) Monitor receipt of revenue to ensure the Client receives all entitlements. Perform collection activities to receive past due funding from government agencies, not including initiation of legal proceedings.
F) Audit Preparation
1) Collect, or arrange for Client to provide, all information required by Auditors for testing and audit report drafting.
2) Prepare required schedules (e.g., accrual worksheet, fixed asset ledger, balance sheet account detail, etc.).
3) Serve as the point of contact for all communication with the Auditors regarding financial data maintained by ExED.
4) Prepare and collect required information for Auditor to complete the 990 tax return.
5) Work and meet with Client’s Audit Committee as needed.
Accounting and Bookkeeping Services. (CPC 86212 other than “auditing services”, CPC 86213, CPC 86219 and CPC 86220) For Mode 1 FR, HU, IT, MT, RO, SI: Unbound AT: Nationality condition for representation before competent authorities For Mode 2 Sector or sub-sector Description of reservations None
Accounting and Bookkeeping Services. A) General Ledger Maintenance
1) Establish and maintain Client’s general ledger per the account codes mandated by the California Department of Education. ExED will monitor and edit revenue and expenditure account code structure, add program and location codes when needed, and perform all other regular maintenance.
B) Bookkeeping
1) Record all transactions into accounting system with appropriate coding to enable the required reporting.
2) Perform lease accounting that complies with the new lease accounting standards (ASC 842).
3) Establish Client-specific tracking codes to support Client’s reporting and budget management needs.
4) Complete the fiscal year-end closing.
C) Balance Sheet Reconciliation
1) Perform monthly reconciliation of all bank statements. Quarterly perform reconciliation of remaining balance sheet accounts: Prepaid/Deposits, Accounts Receivable, Accounts Payable, Payroll Liability, Debt/Loans, and any Other Asset or Liability Item.
2) Record monthly depreciation entries and update asset values for capitalized items.
D) Accounts Payable
1) Process vendor invoices for payments, in accordance with Client fiscal policies.
2) Complete 1099s for independent contractors.
3) Process credit card transactions and employee reimbursements based on information provided by Client.
E) Accounts Receivable
1) Monitor receipt of revenue to ensure the Client receives all entitlements. Perform collection activities to receive past due funding from government agencies, not including initiation of legal proceedings.
F) Training and Support
1) Train school personnel on accounting processes, myExED applications, and internal control procedures.
2) Provide accounting consultation on coding, procurement, compliance, and process changes to improve accuracy in accounting.
Accounting and Bookkeeping Services. 4.1. The Manager agrees to perform the following accounting and bookkeeping services for the Owner in the operation of the Center:
(a) Receive for and deposit in a bank account (the “Center Account”) as directed by the Owner, separate from any monies of the Manager, all funds received from the operation of the Center and supervise the disbursement of such funds for the operation of the Center. The Center Account shall be in the Owner’s name and sole custody without the Manager having the right to draft checks on such account. The Owner and Manager will ensure that the Center Account is managed in accordance with applicable law regarding the assignment and reassignment of Medicare accounts receivable. In addition, the Manager, through its on-site billing personnel, shall prepare bills for the Owner, with all billing in the name of and on behalf of the Owner;
(b) Maintain the books of account, including all journals and ledgers, check register and payroll records;
(c) Post all patient and other charges, including necessary analysis and corrections;
(d) Establish billing, receivables, credit and collection policies and procedures and oversee such activity;
(e) Process vendors’ invoices and other accounts payable; prepare cheeks for such payables and obtain the signature of the Owner’s authorized representatives;
(f) Prepare or contract for processing payroll checks from time sheet summaries prepared under the Manager’s supervision including applicable tax deposits;
(g) Contract for preparation of the Owner’s tax returns provided that the fees paid to independent accountants will be the responsibility of the Owner;
(h) Prepare monthly bank reconciliations;
(i) Prepare monthly and annual financial statements, including without limitation, unaudited balance sheet, profit and loss statements and statement of cash flow, the format of which shall be compatible with the information systems of the Owner;
(j) Conduct meetings, no less than quarterly, or as otherwise necessary with the Owner’s personnel, either telephonically or on-site as required; and
(k) Respond to patient complaints.
