Service Responsibilities Acknowledgement Guide

I. Bank

Accounting ModulesResponsibilitiesUser
A. Bank StatementsSend bank statement to accountant or provide online accessClient
1. Bank ReconciliationTie out Bank balance with GLOSI
a. Reconciliación Electrónica (Electronic Reconciliation)Download bank statement transactions electronicallyOSI
i. Evaluate electronic transactionsEvaluate bank balance and transactions sent by email to avoid overdraftClient
ii. Define transactionsDefine withdrawals and depositsClient
b. Manual ReconciliationTie out Bank balance with GLOSI
i. Register Bank Statement TransactionsRegister disbursements, deposits and bank chargesOSI
ii. Evaluate Outstanding Transactions(Accountant communicate with client to evaluate transactions in transit)Client / OSI

II. Payments

Accounting ModulesResponsibilitiesUser
A. Data Entry Service
1. Create PayeesAccountant will create the payee using "Add Payee Form" filled out by clientOSI
i. Send “Add Payee Form”Complete "Add Payee Form" with required payee information and send to accountantClient
2. Register payee invoicesAccountant will register invoices received by email from clientOSI
i. Send supplier invoice to your accountantVerify invoice, scan invoice and send by email to your accountantClient
B. No “Data Entry” serviceClient will create the payee using "Add Payee Form" filled out by payee
1.Add and Maintain Payees
2. Register payee invoicesClient will register invoices received from payeesClient
3. Maintain Payee informationUpdates payee infonation (email, address,etc.) as necessaryClient
C. Quarterly Return of Tax Withheld on Payments for Services RenderedMonthly analyze withholdings on Professional Services (PS). Pay the corresponding PS withholding in SURI monthly. Reconcile payments and file return quarterly.OSI
D. Additional Services (If agreed)Annually, during January and February, the 480s informative filing service will be carried out. Clients must confirm if they want this additional service.Client
1. Filing Informative 480sClient will provide information required by his accountant to complete this process.Client

III. Receivables

Accounting ModulesResponsibilitiesUser
A. Data Entry Service
1. Add or Edit CustomerAccountant will create the customer with the information provided by the our clientOSI
2. Register customer invoicesAccountant will register invoices received by email from our clientOSI
i.Categorize ExpenseCategorize GL Expense AccountsClient
3. Send invoices to your customersClient will send the invoices to their customersClient
4. Apply deposits to posted invoicesDefine or register deposits to corresponding invoices registered in the receivables moduleClient
B. No “Data Entry” service
1. Add or Edit CustomerClient will create the customer with the information provided by its customersClient
2. Register customer invoicesClient will create and send the invoices to their customersClient
3. Send invoices to your customersClient will send the invoices to their customersClient
4. Apply deposits to posted invoicesDefine or register deposits to corresponding invoices registered in the receivables moduleClient

IV. Filing and Payment of Monthly IVU

Accounting ModulesResponsibilitiesUser
On a monthly basis, the accountant will analyze monthly sales and file the Sales and Use Tax Return (IVU) before the 20th of the following month.OSI
A. Biweekly deposits in SURIClient will deposit in SURI on day 15 the IVU collected from days 1-14. And will deposit on day 30 the IVU collected from days 15 to 29 of the current month. The total deposits for the month must meet 80% or more of the IVU collected for the month.Client
B. Monthly SalesClient will provide or confirm their monthly sales before the 10th of each month.Client
1. Sales analysisAccountant will analyze the sales, imports, purchase credits, etc. provided for the filing of the Sales and Use Tax Return (IVU)OSI
2. Filing of IVU Monthly ReturnAccountant will file in SURI the monthly Sales and Use Tax returnOSI
3. Monthly IVU paymentAccountant will pay together with the filing of the return any difference between the deposits made in the month. This payment must be less than 20% of the total IVU collected in the monthOSI
4. IVU MunicipalAccountant will file and pay en municipality portal the portion corresponding to the IVU Municipal.OSI

V. Payroll

Accounting ModulesResponsibilitiesUser
A. Add and Edit Employees InformationClient will create and maintain all employee information including, selecting the corresponding CFSE classification, apply the vacation and sick rule. Client
B. Payroll preparation
1. Attendance
i. Attendance configurationsVerify that all configurations are set up as requested.Client
ii. Employee attendance configurations.Verify and maintain employees’ with specific configurations, waivers or penalties.Client
iii. Verify and import the time cards.Check the time cards and import the hours in the payroll moduleClient
2. Process payroll on timeProcess payroll two or three days before the payment dateClient
3. Submit payrollVerify the payroll taxes in the payroll report.Client
4. Approve payrollClient will approve payroll and ensure that has funds available in corresponding bank account.Client
5.Print and deliver checks
C. Payroll TaxesThe system will compute the corresponding payroll taxes for each payroll.OSI
i. Option 1OSI will deduct full amount of payroll liabilities from client’s bank account and issue payments to appropriate agencies.OSI
ii. Option 2Client must make payments to the corresponding agencies for the total monthly payroll liabilities.Client
D. Quarterly Payroll Tax ReturnsThe Tax Department will analyze and file the quarterly returns to the corresponding agencies.OSI
E. Clients with Recurring PayrollThe accountant will process recurring payroll as long as the payroll is for a single employee (Owner) and on a monthly basis.OSI
1. Approve payrollThe accountant will communicate with his/her immediate supervisor for approval of recurring payroll to client.OSI

VI. Financial Statements (Finance)

Accounting ModulesResponsibilitiesUser
A. Request informationClient provide ALCHAVO with information requested by the Accountant.Client
B. Preparation of financial statementsPrepare, review and post Financial Statements. Send to client for review.OSI
c. Review Financial StatementsReview financial statements received by your accountant and provide feedback.Client

VI. Additional Available Services

Accounting ModulesResponsibilitiesUser
A. Workmen’s Compensation CFSE (If agreed)Provide provide workmen’s compensation policy.Client
1. Labor ClassSelect labor class applicable to each employee.Client
2. File “Declaración de Nómina del CFSE”The tax department will file the “Declaraión de Nómina del CFSE”.OSI
3. Payment Options
i. Option 1 - OSI will process paymentClient should provide credit card information or bank account information to pay in one or two installments as agreed. First payment in July, second payment in January.Client
Accountant will pay using CFSE portal as agreed with client one or two payments using client’s credit card or bank account information.OSI
ii. Option 2 - Client will process paymentClient should use CFSE portal to pay the amount for the workmen’s compensation policy in one or two payments. First payment must be made in July, second payment on January.Client
B. W-2 Forms (If agreed)If agreed with client the tax department will fill out the W2 Form for each employee. Due date January 31st each year.OSI
C. 480s Forms (If agreed)If agreed with client the accountant along with the tax department will file a 480s informative for each payee subject to withholding or disclosure. Due date February 28th each year.OSI

VI. Services to be provided by AFS CPA Group LLC (If agreed)

Accounting ModulesResponsibilitiesUser
A. Corporate Tax ReturnsIf agreed with client AFS CPA Group will file client’s Corporate Tax Return - yearly Due date April 15th.AFS
B. Individual Income Tax ReturnsIf agreed with client AFS CPA Group will file client’s Individual Tax Return - yearly Due date April 15th.AFS
C. CRIM - Property Tax ReturnIf agreed with client AFS CPA Group will file client’s Return for Propiedad Mueble e Inmueble - yearly Due Date May 15th.AFS
D. Municipal Volume of Business DeclarationIf agreed with client AFS CPA Group will file client’s Declaración sobre volumen de negocio - yearly Due Date April 15th.AFS
E. Corporate Annual Report - State DepartmentIf agreed with client AFS CPA Group will file client’s Corporate Annual Report with the State Department - yearly Due Date April 15th.AFS
F. Exempt Corporate or Personal Annual ReportsIf agreed with client AFS CPA Group will file client’sExempt Corporate or Personal Annual Reports.AFS
G. US Personal Tax Returns (1040 or 1040PR)If agreed with client AFS CPA Group will file client’s US Personal Tax Returns (1040 or 1040PR).AFS