Why a Virtual / Cloud Based Accounting Business Business Benefits: Work Anytime/Anywhere (Vacation, Travel) Not Limited by Geographic Location Large Potential Client Base Larger Workforce Pool Increased Client Productivity Flexibility Decrease Overhead Costs High Level Services to Clients AND true work-life balance

Why a Virtual / Cloud Based Accounting Business Staffing Benefits: No daily commute/travel No work attire requirements Anytime/Anywhere (additional vacation/travel time) Flexible Schedule (flex hours after priority tasks met) Results, Team, and Client Oriented vs Time Clock Punching Challenges: Everyone is Remote – Communication and Procedures are Key!

Building Your Team: Organizational Chart Example Owner/CPA Payroll Manager (1 FT) Payroll Accountant (1 PT) Accounting Manager (1 FT) Data Entry (3 FT Contract) Review Accountants (5 PT) Admin Asst (1 PT)

Building Your Team: Who To Hire & When #1 Contract Out Data Entry #2PT Acctg Manager or Review Accountant to Mentor/Promote #3: Work w/ Acctg Manager to Build Team from here

Building Your Team: Data Entry Responsibilities: Daily Entry & Misc Projects NOT Responsible for Acct Decision Making & Client Communication Qualifications: Data Entry, QuickBooks, Computer Skills Understanding of confidentiality Attention to Detail Schedule: Overnight 8pm to 5am Pay: Wide range (US vs India) ~$8-12/hour

Building Your Team: Review Accountant Responsibilities: Daily data entry review & feedback to data entry team Client clarifications, s Month/Quarter/Annual Close Procedures & Checklist Maintain GL, Prep GJE’s, Bank Recs, Reporting Escalate issues to Accounting Manager Qualifications: Accounting Degree, 2 Years Experience Proficient in QB, Excel, Computer Skills Attention to Detail, Confidentiality Minded, Excellent Client Server Skills, Team Oriented, Results/Goal Oriented Schedule: 5am-10am Pay: ~$15/hour

Building Your Team: Accounting Manager Responsibilities: Staff Management Client Accounting Oversight Company Policy & Procedure Management Internal Review Accounting Software/Systems Management Qualifications: Accounting Degree, 5 Years Accounting, 3 Years Management CPA, CMA a plus Macro View of Accounting, Strong Analytic Skills Strong Management Style and Customer Service Skills Schedule: 7am-3pm Pay: ~$20/hour

Building Your Team: Benefits Benefits to Consider: PTO Health Insurance 401k or 401k Match Profit Sharing Home Office Reimbursement/Allowance Highlight & Encourage Work-Life Balance

Building Your Team: Roles of Owner Beyond Business Ownership/Management, Consider Areas Not to Assign/Delegate: High Level Client Communications Client Leads/Proposals Monthly Consultation of Bookkeeping Clients Coaching & Consulting Marketing/Advertising Internal Cash Flow / Budgeting / Forecasting Decisions Related to Software or Technologies

Building Systems, Checklists & Procedures Staffing Systems, Checklists & Procedures: Recruiting/Interviewing/Hiring Checklist Employee Termination Checklist Employee/Corporate Handbook New Employee Training Checklist on Systems, Cloud Based Technologies, and Internal Polices & Procedures New Employee Training Checklist on Client Work Regular Performance Reviews Scheduled w/ Pay Review Continued Training and Development Scheduled for Staff Scheduled Cross-training amongst employees for client work/coverage Monthly Data Entry & Review Accountant Efficiency

Building Systems, Checklists & Procedures Management/Owner Systems, Checklists & Procedures: Profitability Benchmarks for Clients and Regular Review Lead and Proposal Templates for Potential Clients Organizational Chart Staff Work Schedule Master Log-In / Credential List Master Client List / Information AR & AP Policies

Building Systems, Checklists & Procedures Client Management Systems, Checklists & Procedures: Policy and Checklist for Leads/Potential Clients New Client Implementation Updated Client-Bookkeeper-Data Entry Assignments Management of HelpFiles & Client Documentation Month-End Checklist Payroll Checklists for Processing, Quarterlies, Annual, 1099s… Year-End Close Checklist and Communication w/ External Tax CPA Client Cancellation Checklist Client Changes Checklist (Fee Change, New C9 Seat QB Access change) Monthly Procedure to Review Company Profitability for each Client Annual Fee Review for each client

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