Service Responsibilities Acknowledgement Guide
I. Bank
| Accounting Modules | Responsibilities | User |
|---|---|---|
| A. Bank Statements | Send bank statement to accountant or provide online access | Client |
| 1. Bank Reconciliation | Tie out Bank balance with GL | OSI |
| a. Reconciliación Electrónica (Electronic Reconciliation) | Download bank statement transactions electronically | OSI |
| i. Evaluate electronic transactions | Evaluate bank balance and transactions sent by email to avoid overdraft | Client |
| ii. Define transactions | Define withdrawals and deposits | Client |
| b. Manual Reconciliation | Tie out Bank balance with GL | OSI |
| i. Register Bank Statement Transactions | Register disbursements, deposits and bank charges | OSI |
| ii. Evaluate Outstanding Transactions | (Accountant communicate with client to evaluate transactions in transit) | Client / OSI |
II. Payments
| Accounting Modules | Responsibilities | User |
|---|---|---|
| A. Data Entry Service | ||
| 1. Create Payees | Accountant will create the payee using "Add Payee Form" filled out by client | OSI |
| i. Send “Add Payee Form” | Complete "Add Payee Form" with required payee information and send to accountant | Client |
| 2. Register payee invoices | Accountant will register invoices received by email from client | OSI |
| i. Send supplier invoice to your accountant | Verify invoice, scan invoice and send by email to your accountant | Client |
| B. No “Data Entry” service | Client will create the payee using "Add Payee Form" filled out by payee | |
| 1.Add and Maintain Payees | ||
| 2. Register payee invoices | Client will register invoices received from payees | Client |
| 3. Maintain Payee information | Updates payee infonation (email, address,etc.) as necessary | Client |
| C. Quarterly Return of Tax Withheld on Payments for Services Rendered | Monthly 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 480s | Client will provide information required by his accountant to complete this process. | Client |
III. Receivables
| Accounting Modules | Responsibilities | User |
|---|---|---|
| A. Data Entry Service | ||
| 1. Add or Edit Customer | Accountant will create the customer with the information provided by the our client | OSI |
| 2. Register customer invoices | Accountant will register invoices received by email from our client | OSI |
| i.Categorize Expense | Categorize GL Expense Accounts | Client |
| 3. Send invoices to your customers | Client will send the invoices to their customers | Client |
| 4. Apply deposits to posted invoices | Define or register deposits to corresponding invoices registered in the receivables module | Client |
| B. No “Data Entry” service | ||
| 1. Add or Edit Customer | Client will create the customer with the information provided by its customers | Client |
| 2. Register customer invoices | Client will create and send the invoices to their customers | Client |
| 3. Send invoices to your customers | Client will send the invoices to their customers | Client |
| 4. Apply deposits to posted invoices | Define or register deposits to corresponding invoices registered in the receivables module | Client |
IV. Filing and Payment of Monthly IVU
| Accounting Modules | Responsibilities | User |
|---|---|---|
| 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 SURI | Client 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 Sales | Client will provide or confirm their monthly sales before the 10th of each month. | Client |
| 1. Sales analysis | Accountant 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 Return | Accountant will file in SURI the monthly Sales and Use Tax return | OSI |
| 3. Monthly IVU payment | Accountant 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 month | OSI |
| 4. IVU Municipal | Accountant will file and pay en municipality portal the portion corresponding to the IVU Municipal. | OSI |
V. Payroll
| Accounting Modules | Responsibilities | User |
|---|---|---|
| A. Add and Edit Employees Information | Client 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 configurations | Verify 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 module | Client |
| 2. Process payroll on time | Process payroll two or three days before the payment date | Client |
| 3. Submit payroll | Verify the payroll taxes in the payroll report. | Client |
| 4. Approve payroll | Client will approve payroll and ensure that has funds available in corresponding bank account. | Client |
| 5.Print and deliver checks | ||
| C. Payroll Taxes | The system will compute the corresponding payroll taxes for each payroll. | OSI |
| i. Option 1 | OSI will deduct full amount of payroll liabilities from client’s bank account and issue payments to appropriate agencies. | OSI |
| ii. Option 2 | Client must make payments to the corresponding agencies for the total monthly payroll liabilities. | Client |
| D. Quarterly Payroll Tax Returns | The Tax Department will analyze and file the quarterly returns to the corresponding agencies. | OSI |
| E. Clients with Recurring Payroll | The accountant will process recurring payroll as long as the payroll is for a single employee (Owner) and on a monthly basis. | OSI |
| 1. Approve payroll | The accountant will communicate with his/her immediate supervisor for approval of recurring payroll to client. | OSI |
VI. Financial Statements (Finance)
| Accounting Modules | Responsibilities | User |
|---|---|---|
| A. Request information | Client provide ALCHAVO with information requested by the Accountant. | Client |
| B. Preparation of financial statements | Prepare, review and post Financial Statements. Send to client for review. | OSI |
| c. Review Financial Statements | Review financial statements received by your accountant and provide feedback. | Client |
VI. Additional Available Services
| Accounting Modules | Responsibilities | User |
|---|---|---|
| A. Workmen’s Compensation CFSE (If agreed) | Provide provide workmen’s compensation policy. | Client |
| 1. Labor Class | Select 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 payment | Client 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 payment | Client 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 Modules | Responsibilities | User |
|---|---|---|
| A. Corporate Tax Returns | If agreed with client AFS CPA Group will file client’s Corporate Tax Return - yearly Due date April 15th. | AFS |
| B. Individual Income Tax Returns | If agreed with client AFS CPA Group will file client’s Individual Tax Return - yearly Due date April 15th. | AFS |
| C. CRIM - Property Tax Return | If 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 Declaration | If 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 Department | If 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 Reports | If 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 |