Have you ever experienced issues in your accounting department? Unexpected turnover, a re-hire that just isn’t the same. Issues that can’t seem to ever get resolved or the same mistakes being made month after month. Have you ever been in a situation where finding a good new hire takes too long while payables, inventory, and a good statement of financial position get interrupted. This can make running your golf course extremely painful, become time-consuming and costly.
At my courses, I could step in and check in play, prepare the deposits, run a function, open the kitchen, cook the breakfasts, cut cups, but I could not jump in and manage my books. If you don’t get help quickly from a knowledgeable bookkeeper that is familiar with golf courses things can really get behind. Not to mention if you miss remitting sales tax the penalties can be really bad.
What worked for me in the past was a move to offsite accounting. I trained an offsite team that insulated us from any issues like transfer of knowledge, single point of failure, sick leave etc. Back in the early 2000’s, I could see the value in this and started offering this team to other courses. We quickly picked up clients. We educated a growing management company that was out west and took care of all their corporate office, owned and managed satellite golf course operations. Going into that agreement they had informed me that they would likely be a short few years before they took it in-house at their corporate office but wanted to learn the systems that we had in place. It was a mutually beneficial agreement.
At Teesnap we are now offering this to our courses as a service. Let us handle your accounting department, lower your costs, get you timely accurate statements for a fixed fee. Take the headache of having to deal with your accounting department on-site away.
Details of our service include:
Daily Sales Summary Journal Entry
Enter daily sales from the TeeSnap sales summary as a daily journal entry into QuickBooks*
Monthly Bank Reconciliations
All bank statements will be downloaded from the bank and reconciled monthly.
Monthly Credit Card Reconciliations
Credit cards will be reconciled daily/monthly against statements provided by the merchant processing company.
Monthly Business Credit Card Reconciliations
All business credit card transactions will be coded and entered into QuickBooks and monthly statements from the financial institution will be reconciled monthly.
Monthly Pro Shop and F&B ending inventory counts will be obtained and the necessary adjustment made for Cost of Goods Sold at the end of every month.
Sales Tax Reporting
Prepare and submit monthly sales tax report.
Invoicing and reconciliation monthly. Provide aging and collection follow up notices.
Enter vendor invoices and provide weekly accounts payable aging. Cut check weekly or bi-weekly. Reconcile vendor statements.
Payroll Preparation/Journal Entries
All payroll recorded into QuickBooks from payroll reports provided by the Client. We recommend payroll outsourcing so that all required tax deposits and Quarterly and Annual tax filings are completed timely and accurately.
All necessary adjusting journal entries each month for any accruals, prepaid expenses or deferred revenues.
Receive a Balance Sheet and Profit & Loss Statement by the 5th business day following each month-end.
End of Year Preparation
Teesnap will work with your Tax Preparer to provide all financial data needed to complete your annual tax return.
We have a great system and processes set up for this. We can take over your books and get them squared away if they are in tough shape. We have also found that we can effectively lower your costs in this department.
Get accurate statements, on time!
If I can be of help, to talk to you about the process please don’t hesitate to email me at [email protected].