Skyy Outsourcing is a full service accounting firm focused on helping companies of any size free up time and money to focus on their core business processes. We provide accurate financial information so informed decisions can be made timely and efficiently.
Remove the boring from the day to day accounting and finance processes. We cover everything from bookkeeping, to monthly reconciliations, to higher level reporting and controller services. We can even provide your team with a CPA upon request. Listed below are the different accounting services our team can provide. Let us take care of all your accounting needs or you can pick and choose the processes you want.
Let us customize the accounting service that is right for you.
New business or Changing Systems
Starting a new business or want to switch to a new accounting system? We have experience with many different systems and we are Quickbooks certified pro advisors. If you are currently using Quickbooks or would like to move to Quickbooks online, we can offer discounts for your service subscriptions.
Accounts Payable – Bill Pay
Stream line your bills through our outsourced billing service. Have your bills come straight to us, scan your bills to us through our secure cloud site or just send them directly to our email account. Don’t have a scanner? Send them via FedEx. We will enter everything in and send you a weekly report of bills to be paid. Approve the ones you want to pay and hold off on the ones you don’t.
Accounts Receivable – Invoicing
Invoicing and collections can be time consuming and a hassle. Let us make sure money is coming in and not just going out. Based on your business process, we will send invoices, track receivables, and send reports on a regular basis. We can make the deposits, oversee collections, and draft demand letters as needed. We hope things don’t progress past this point, but if they do, we will work with a collection agency to recover the debt if possible.
Payroll – HR
Your employees are key to your business success. Let us make sure your payroll is setup correctly and the payroll process runs smoothly every time. We will enter in all employee information, set up direct deposit for every employee, record time sheets for each pay period, allocate labor costs by customer or job as needed, process payroll, and make sure payroll taxes are paid.
We will also make sure quarterly and annual payroll tax forms are prepared and filed. Many times, companies work with third party payroll processing companies. This is something we support and we can recommend one that is right for you or we will work with your current provider.
At the end of the day, you will want to know if your payroll numbers are meeting up with your current and future goals for revenue and growth. We will report and analyze these numbers as needed on a quarterly or annual basis to help you make those big decisions.
Reconciliation – Banking and Credit Card
Your company’s bank accounts see activity on a daily basis, including credit card transactions. We can help you keep track and stay up-to-date on all of these transactions. We will enter all transactions set up automation where possible, select appropriate accounts, and allocate to jobs and classes as necessary. We will also make sure all items clear the bank and create adjusting journal entries as needed to efficiently keep your books up to date so you don’t have to.
Cash is what keeps the lights on and the engine running. Having a good understanding of when and where money is flowing in and out of your company can help prevent stress and business bankruptcy as well as help make short and long term business decisions. We work with our clients to create a budgeting strategy for the year and then review each month to see how they compare.
Let Skyy Outsourcing give you control over your money and feel secure with your business.
Understanding the numbers
The last thing we want to do is to throw a bunch of reports and numbers at you without meaning or explanation. The decisions you make are based on these numbers and we want to make sure you understand what the numbers are saying. On a weekly, month or quarterly basis we will go over the reports and answer any questions you might have.
Reporting – Financial Statements and Custom Reporting
It is important to always know the financial stability of your company. We will create working reports on a regular basis to help you make business decisions or comply with lender and investor agreements.
There are many different reports we can create to include:
• Profit and Loss
• Balance Sheet
• Accounts Payable
• Accounts Receivable
• Payroll Liability
• Prepaid Expenses
These reports can be customized to fit your business needs. Are you more visual? We can create a graph, add a trend line, or highlight specific numbers. With Skyy Outsourcing, your decisions will be made using real and accurate data.
Year End Tax Preparation – For Tax Accountant
At the end of each year, we will prepare and reconcile the books for your tax accountants. We will work directly with your tax accountant to provide all the information they need to complete and file year-end tax forms.
We are currently not positioned to do tax accounting and we like it that way. By having a third party review your books and give a final sign-off for the year-end gives an extra layer of fraud prevention and security for your business.
Many companies do not have the time to look at or review their vendors. This can lead to overpaying and not getting the full benefits out of what they are paying for. We will help manage and maintain your vendors to make sure your company is running efficiently at the best costs.
Fraud prevention – Security
Skyy Outsourcing holds itself and its affiliates to the highest code of ethics. That being said, we have implemented procedures and leveraged technology to give our clients the peace of mind they deserve to keep your company name and values untarnished. Every expense we receive will be attached and filed in the system. All bills and expenses are to be approved by the client before they are paid. We can review audit trail reports, and after closing of each month, that month will be locked to keep changes from being made.
To protect a client’s files it is important to reduce the number of people able to access them while having enough people to review for checks and balances. We keep all client files secure and only give access to people working on those files. Access will be given to the clients’ approved tax accountant for reviews and year-end tax planning. Remember the accounting files we create are your files and you have access to them at any time.
For extra security and peace of mind for our clients, Skyy Outsourcing carries insurance to cover professional liability.
Initial Consulting and Review
Review/Find Overhead Vendors (Communications, Computers, Copiers/Printers, Insurance, 401K, Ect.)
Look for alternative solutions at the best price
Day to Day
Keep master vendor file for all records
Maintain and manage vendor files and data
Keep track of all contract dates to keep you up to date
Have a 401K plan or offer your employees other benefits? We will work with your provider to make sure all paperwork is completed. Insurance, 401K’s and other policies need reviews and testing on an annual basis. We will complete these forms in a timely manner to make sure there are no interruptions in your policies.