| | Level 1 | Level 2 | Level 3 |
| | | | |
INPUT TRANSACTIONS | | X | X | X |
Enter transactions into your QB system | | | | |
| | | | |
ACCOUNTS PAYABLE | | | X | X |
Prepare vendor payments – check or ACH | | | | |
| | | | |
ACCOUNTS RECEIVABLE | | | X | X |
Invoice customers and handle collections | | | | |
| | | | |
BANK STATEMENT RECONCILIATIONS | | X | X | X |
Reconcile monthly bank and credit card accounts | | | | |
| | | | |
PAYROLL | | | | X |
Manage your payroll | | | | |
| | | | |
SALES & PAYROLL TAXES | | | | X |
Prepare and submit monthly\quarterly required filings | | | | |
| | | | |
MONTH, YEAR AND YEAR END CLOSE | | | X | X |
Record required adjustments, accruals, etc. | | | | |
| | | | |
MANAGEMENT REPORTING – FINANCIAL STATEMENTS | | | X | X |
Create Balance Sheet and Income Statement | | | | |
| | | | |
BUDGETING | | | | X |
| | | | |
CASH FLOW FORECASTING | | | | X |
| | | | |
PREPARE 1099 | | | | X |
| | | | |
TAX RETURN PREPARATION | | | | X |
| | | | |