Parkway Data Reconstruction

Welcome to the Parkway On-boarding Workflow Process including Data Reconstruction

Preliminary Evaluation:

Detailed Discovery:

Discovery Review:

Proposal and Contract:

Initial Setup:

Financial Rebuild:

Data Collection & Cleanup

Vendor List Approval

Transaction Reconstruction

Account Reconciliation

Preliminary Profit and Loss Delivered

Form Transaction Entry:

Import of Estimate Tranactions

Import/Convert Estimates to Purchase Orders

Import/Convert Estimates to Invoices

Import Received Payments

Reconciliation of Form Transactions

Managerial Review:

Payroll Setup:

Preliminary Evaluation:

Income Questions:

Do they have A/R Transactions

Are they receiving Deposits

Do they charge Sales Tax

Do they use Sales Receipts and Invoices

Do they use Estimates

Detailed Discovery:

Preliminary Discovery

Significant Liability:

Are the liabilities significantly greater than the equity position?

Additional Comments:

Accounts Receivable:

Are Accounts Receivable Items well maintained

Additional Comments:

When was the last time the AR was balanced?

1

Undeposited Funds have been reviewed
2

Review the A/R for prior year receivables
3

Review Unapplied Payments

Accounts Payable:

Are Accounts Payable Items well maintained?

Additional Comments:

When was the last time the AP was balanced?

1

Tracking Inventory from Purchases
2

Classes are being tracked on Purchases
3

Billable Expenses are being tracked to customers
4

Shipping is broken out from purchases

Inventory

Is Inventory Being Tracked?

Date of Last Inventory Reconciliation

1

Inventory Items have proper income accounts assigned
2

Inventory Items have proper expense accounts assigned
3

Proper use of Sales Tax on Items
4

Returns are being tracked

Payroll Information

Does the company require Payroll Processing?

Current Payroll Provider

Date of last Payroll Reconciliation

1

Gross Wages broken out by COGS and Administrative
2

PTO being tracked
3

Other Company benefits being offered
4

Electronic Reporting of Payroll Taxes
5

Direct Deposit Checks

Managing Partner Review

Mike is Satisfied with Review

Additional Comments:

Matthew is Satisfied with Review

Additional Comments:

Discovery Review:

Partners Discuss Findings from Discovery

Mike's Notes:

Matthew's Notes:

Potential 3rd Party Apps

1

Knowify
2

Google Calendar
3

Bill.com
4

Toggl
5

CData Importing

Other

Expected Challenges

Describe The Challenge

Expected Time Requirment

Generate Project Timeline

Create New Group / Project

Add a new Project to Office 365

Proposal and Contract:

1

Calculate Proposal Based on Total Transactions
2

Create Proposal in Signnow and prep for email
3

Managing Partners Review Proposal
4

Schedule a time to Discuss Proposal with Client

Initial Setup:

Software Setup

1

Ledgersync
2

QuickBooks Online
3

SmartVault
4

Entryless
5

Anydesk

Financial Connections and Documents

1

Connect all Accounts in Ledgersync
2

Connect all Accounts in QuickBooks Online
3

Establish Read Only Access to Bank Accounts
4

Confirm all Check Images have been gathered
5

Confirm all Statements have been gathered

Smart Vault Setup / One Drive Setup

1

Setup Client Access
2

Setup CPA Access
3

Confirm Proper folder structure
4

Organize all Received Documents within SmartVault

Financial Rebuild:

Data Collection & Cleanup

1

Combine all transaction and check for missing statements
2

Gather all Payroll Data
3

Gather all Merchant Services Statements
4

Complete Company Entity Sheet
5

Make Requests for any missing Information
6

Export and Clean Customer List
7

Export Vendor List and matching Categories
8

Export Products and Services
9

Export Other Lists
10

Convert Chart of Accounts to Universal
11

Run new transactions through Data Transformer

Vendor List Approval

1

Compare New Vendor List with Prior List
2

Combine two Lists with Suggested Vendors and Clean up
3

Partners Review Vendor Report and Update
4

Highlight primary Vendors of Concern
5

Send Report to Client and Review

Transaction Reconstruction

1

Process all Transactions through Data Transformer
2

Organize all Transaction into Auto P&L
3

Process Missing Check Images
4

Create Banking Rules and Import
5

Modify Rules to Maximize Capture

Account Reconciliation

1

Reconcile all Transactional Accounts

Preliminary Profit and Loss Delivered

Form Transaction Entry:

Import of Estimate Tranactions

Import/Convert Estimates to Purchase Orders

Import/Convert Estimates to Invoices

Import Received Payments

Reconciliation of Form Transactions

Managerial Review:

Trial Balance Report Summary

1

Review Recociliations Dates for all Accounts (Report Tools)
2

Review Invoice Reconciliation compared against prior accounting
3

Review Payments Received Reconciliation against prior accounting
4

Review Customer Balances against prior accounting
5

Review outstanding credits and discounts both vendor and customer
6

Review journal entries to ensure all necessary are transferred and reck'd
7

Ensure any accounts transitioned into our accounting have been populated correctly from the former account

Balance Sheet

1

Review Prior Yearend Balance Sheet
2

Create Adjusting Entries to Link OLD COA to NEW COA

Special Instructions

1

Check for Project Specific Instructions and Complete

Accounts Receivable Balances

1

Confirm that all Customer Balances Match
2

Review all A/R balances by Quarter, then Month to ensure payments match the proper accounting period
3

Run Report of OUtstanding A/R Balances to Review with Client for Potential Bad Debt