Accounting - Steve

This page is for Steve notes on Accounting.

Action Items - Done - Steve - 2/15/18
Payroll Timebilling
Goal Actions
  • Homepage bold with notes on changes and point to main wiki. Make sure main wiki clearly has changes: https://lifebushido.quickbase.com/db/bbqm96x8e
  • Client codes removed: REB and Systems
  • Work Types
    • Tracey and Toshua have admin access.
    • Tracey should build home page to have basic reports.

  • Work Types changes made -
    • Work Types: added
      Ishido - Learning
      Ishido - LB Internal
      Management - Mentoring - Training
      Accounting - LB
      Accounting - Client
      Remove:
      Clients:
      REB
      Systems
      Work Types:
      Accounting
      Ishido - Training - Mentoring
      Ishido - Training - Videos
      Management - Agenda
      Management - ATL
      Management - In person meeting
      Management - Kick off
      Management - Microventure
      Management - Quality Audit
      Management - Weekly Call
      Management - Other
      Systems - All




Action Items for 2/11/18
Tracey
  • Clients
    • Get Bob Sokoler on PayPal sub
    • Rick Wearing - does he owe money?
    • Homesnap - do we owe them a credit.
    • Recurring template list - one-time project clients - discuss with Steve/
  • Deposit - Jun 20th for $995 2017 - did we figure out who that was for? It was likely Casey I would think.
  • Client DB: Reports all organized. Please have 2 sections for Accounting Team.
    • The first one should just be for Accounting which we are doing for our clients, like Marketing team etc, and likely just have the 1 report showing Accounting info and financial info.
    • The second one is for all internal Lifebushido Accounting reports that you/me use for things.
    • Service Level Target - confirm completed for everyone. If not, make your own guess based on 10% of GCI.
  • Accounting - PayPal DB: Please improve homepage for reports. Add Wendy and Toshua for now as Viewers access and have them confirm.
    • Test basic reports and make sure we have what we need.
    • Create a report which has Rows for KA/Ishidos who got credit for action and then last 100 days with Months as Columns and it should show total of upgrades/downgrades - meaning exclude regular payments or new sales. Have me review.
  • Lifetime Value
    • We need to do data entry to confirm numbers. Please do summary report from QuickBooks of all clients total revenue to 1/31/18 to Excel and send to me. It will likely be 1,000 clients.
    • Take report which is used to data enter Total Revenue and Monthly Revenue each month and send that to me to modify to pull all 1,000 clients so you can have Global do data entry of all 1,000. So how long hours for a Globsal or multuiple Globals to data entry alpha order the date 1/31/18 and then total revenue number from reading off spreadsheet and typing into Client DB?
  • Monthly Accounting Pulls
    • Do you currently pull total revenue and it is updated in Client DB and you have total work hours and Accounting Box can answer basic summary report info without havuing to pull whole report?
  • Financials - Profit/Loss - Payroll Paychex
    • Budgeting: Please use Lifebushido Metrics page for a Budget - Monthly P/L which we will use for dollar amounts. Please put in the recurring ballpark numbers we know we have and have column to right of $$ the percent of revenue.
      • PayPal credit card fees are about 2.X%. Put in line items for the recurring stuff.
    • Payroll Monthly: Please update wiki of how you enter monthly payroll items and how allocated. I am not convinced it is correct. Let's use Jan 2018 payroll we just did as example.
      • Send me the part of P/L and Balance Sheet which would only list those Paychex/Payroll related items. Have a saved report from QB. Please have it include Mass Pay for Globals since that is part of total as well.
      • Also send PDF from Paychex showing summary numbers which SHOULD MATCH 100%. And the PDF of bank statement which shows transfers.
      • Here are some questions issues, my understanding: Employee withholdings are balance sheet, employer liabiklities are balance sheets which then become expenses?? I do not fully understand this myself. Workers Comp expense,
      • Tax deposits, so that is when the money comes out of bank account as a lump sum and gets applied to balance sheet items? I guess if expense it accrues as payable when we do payroll and then is paid by EFT date?
    • LB Financials compare 2017 to 2016
      • Weekly automated report - please have a automated Weekly P/L for past 60 days sent to me on Tuesdays. since you will have entered Monday into QB anything through Sunday. This is so I can check weekly revenue is flowing normal and expenses being entered normal monthly.
      • Monthly automated report - have on 15th send me P/L columns as months for past 6 months.
      • Please send me consolidate version (non-expanded)
      • Chunk stuff so we have Payroll, Advertitsing/MArketing, Bank Fees (paypal thing), Technology Officer (quickbase painful), and Otehr.
      • Questions/issues: Consiolidate little codes as possible. Book travel 2016? Payper click 2017 is missing and should be all the Google and Facebook PPC. Pls have sep lines in Advertising for Googgle PPC and Facebook PPC.
      • Why did PayPal fees go up in 2017 if revenue was down?
      • Pls send detailed Excel of all 2016 and 2017 separate P/L detyail.
      • Misc - get it to $0 show me what that is
      • Older expenses $4,995 - what is that stuff?
      • Payroll - dreict separate 2,000 ??
      • Why is state income tax appearing under expenses? Isnt all of that Employee costs, not LB.?
      • Yes, State SUI should be LB expense, but isnt state withholding employee? Make clear if SUI or WH on descriptions categories
      • do percentages make sense? meaning total for year of X% for Soc Sec and MEdicaire and FUTA.
      • why is FH witholding tax appearing under expenses??
      • pls change categories subcats so more clean like Federal, State SUI, State WH, Local Sui, Local WH, Workers Comp etc.
      • uncategiorized expense - clean up
      • Shareholder loan - the memo fields should say which bank account ending last 4 digits the money came out of. pls send details fotr current shareholder balabnce.
      • Audit PayPal account - have you confirmed you have all refunds by review of PayPal details pulls I gave you?
  • Overall Stuff - 2/11/18

Steve
  • Clients - PL
    • Billing hours - database calc in Client DB fix finally
    • BDA Systems $99 syub - add it for new proposals and sell it as well.
    • Raise prices
    • Coaching revenue - Paul P needs $995.
    • Exclude clients who are not active from being able to bill
    • Remove REB
    • Remove Systems
    • Track weekly
    • Refunds audit
    • Create new sub levels including $1,495 and $99 assistant stuff.
  • Misc items
    • Client Lifetime Value
    • goal actins tracey
    • paypal myutklie user access
    • MSR - sales by client for last year - review and focus
    • A/R report
    • MD SDAT report - personal properly. apr 16
    • taxes
    • gretchen
    • metrics folder
    • Barb
    • Where should I be spending time on capital raise etc?
    • Finding Jedishisods
    • Tracey role
    • quick base acct
    • hartford audit
    • sendout cards
    • citibank card and payments
    • clear lifebushido acct steve wuiki



Tracey
  • Review items below from Apr 2017 and update/confirm done or take action and reply to Steve so he can remove DONE items once verified.
  • Clients
    • Jeff Smith - run Steve summary report of work done for Jeff just since he revived and stopped. Send to Steve. Unsure if he has balance.


Version: 4/9/17 TB

STEVE ACTION ITEMS/QUESTIONS QUICKBOOKS/PAYROLL STATES

1. The Statements and Bank withdrawals from Paychex are for Prior Month Payroll, Is there anything else we need to do to account for this or is it fine being accounted for in them month paid?




4. Is there anything else I need to do with the Payroll liabilities to the State? Do I need to put in Invoices from the States into QB to all these payments to? (This has not been done so the Payroll Tax Payable account has a huge negative number currently)

  • Yes, start to reconcile 2016 and then 2017. Please ask Paychex person for understanding. 2016 DONE - 2017 IN PROGRESS
  • Whatever we figure out, document with real life examples - WORKING ON - Work in Progress


8. In October you wrote a check to Missouri for $178.52. This was put in the Payroll Exp - FICA account. Should this be Payroll Tax Payable account (liability)
  • I dunno, ask MO and track down - IN PROGRESS



OLD STUFF BELOW - IGNORE FOR NOW
Pages
  • Accounting - Steve - Payroll - planning payroll changes - 11/23/1

  • Accounting Test - Work Hour Balance
  • Once we confirm calc is okay and Gretchen gets Last Updated Acct/Rev date/numbers current, we will role out to KA.

  • Balance Paid Hours = This is based on revenue paid / $20 hour - work hours total.
  • Budget Partial Month = This reflects that fact that they are using hours for partial month until next payment. So if 50 hours a month and Billing Date is 10th, they will be using another 16 hours before next billing date so we need to subtract those partial hours from balance to show where they stand now. If 0 we are good or if they have a little positive. If negative, we need to slow down hours or get partial payment etc.
  • Balance Paid and Partial Hours = (Balance Paid - Budget Partial)

        • GRETCHEN DOES STUFF ABOVE THIS LINE

Steve
  • Update wiki from folder notes. Get daily flow smooth.
  • Minimize, reduce expenses, BDA accounting

  • Calc hours left - need calc formula for hours left.
  • Zero out balances of work hour balance credit/debit
  • System hours - automate so it can be done without Steve
  • Lock Client DB for acct fields
  • Financials: QB access, monthly up/down, amex - upload. Canada items
  • QB recurring template review
  • Other: book processing, qbase reports, Ishidos over X hours
  • GA reports automated, refunds, time billed to inactive clients
Gretchen Older Stuff




Steve - STUFF BELOW IS OLDER
  • Accounting
    • Decreasing costs, increasing systems, crowdsourced auditing
    • Decrease costs with automation and time estimates daily weekly monthly and Sched DB
    • Work Hour Balance:
      • Wording and calculation via Kathy for 50 hours on 10th of month
      • Work hour balance and date - clear these out every 3 months
      • Audit: Revenue Total and YTD
      • Months of service and revenue per month
      • MSR count versus on Checks
      • Useful for uogrades: Over hours, negative mnumber, under hours, positive number. date of when done.
    • Client Lost policy
    • Budget Hours - see summary report nothing EMPTY or 2. Empty should be 0.
    • Accounting kickoff - PAM to resolve count. - only for clients A rated.
    • Stop work policy - who to bill - check goal actions
    • Pause Slow - 995 to 99 downgrade. Why mistake, now, target resignup, agree with client
    • qbviewrecruit, qbviewpyroll
    • Slow Pause - Bill Walsom deadline date for usage. - put in mail
    • Client Grid: Columns for Call, Retainm, Delegate, Revive Upgrade
    • New DB of Client Changes All: Add, Drop, Upgrade, Downgrade, Pause: Client, Date, Type of change, Start Level, Ending Level, Reason, KA, CS, Other, notes, who was responsible. Points.
    • Check processing - actions for each type, what to do and templates
    • Billing practices: why bab and not. Generic VA no RE, RE VA, no business, Comp VA, Globasl, Other ?RE firms, compete, testimomnial, bda, owner, coaching clients.
      • Billing - part-time, better than inhouse, recruit, retain, elader, systems wiki, babwiki, monthly slow, CC Client Steve KA Acct audit. transapartent payroll 70 per month and questions for 1-3. never had a dispute
      • Problem asst error, billing fraud, over deliver, not slow
    • PayPal 2.2% to 100k and then 1.9%. Virtual terminakl $30/month, not online. web payments pro account. Refunds error,e Signup CC, email mass pay make steve primary email
    • Missing clients from Client DB: IonIdea Kishabn, Georgia McLaughlin, Todd Murphy, Jo Ellen Nash, Dan Rallo, Debbie Yost
    • MSR - BAB DB - Private Steve, Starrt amount, current amount, total amound, sdubs, single, refunds, NET.
    • Systems time - 5 hours * 3 is 15 hours
    • Accounting Budget for a client -
    • Client Grid: AW Newsletter, BBB, Restart, Toucbase hellos, Bold 100 days, Analyze by year srarted.
    • PayPal veriify email - make shorter and link to babwiki FAQ
    • Citicard - pull reports
    • CLient DB: Phone says whether office or cell
      • Retention - check box that review was complete for Client Revive - date reviewed last. This could be overall field for major review of client
      • Reason CS in Clien6t db is comnfusing




Budget - Lifebushido Internal - 10/11/11
This is draft budget for Lifebushido work which involves all work related to running and growing the company. This is budget for non-revenue work per month. Target budget is 10% of revenue work hours. If client revenue work hours is 3,000, then budget is 10% or 300 hours.
  • Total Hours: 350 hours
  • Core:
    • Accounting: 60 hours
  • Sales:
    • Calling Sales: 80 hours
    • Calling Client Revive: 40 hours
    • Sales Box: 10 hours
  • Marketing:
    • Overall: 50 hours
  • Kaizen:
    • Team Kaizen: 100 hours
  • Creative - Social Entrepreneur: 10 hours

Emails to Ishidos
  • Team Leaders - Cut Costs - Stop LB/REB billing
    • There should be NO time billed for October
    • Stop all Team Kaizen efforts until further notice billed to LB./REB
    • See previous policy which has been slightly updated at https://lifebushido.wikispaces.com/Team+Management+-+Team+Kaizen. Read that over TODAY and put any questions at bottom of wiki page under FAQs. I will answer all questions within a few days. There are a few TL who have been around and were aware of policy and have billing incorrectly for past few months costing company a lot of money. This is not good.
    • There will be an intensive audit of last few months of TL billing.
    • Please join Driver call and schedule date on Driver page per policy for next week. I need to speak to every TL by next Thu so book Mon-Thu - there are 3 slots per day. On that call I will tell you what LB/REB work, if any, is authorized for your team.
  • Key Assistants - Cut Costs - Stop LB/REB billing - Melissa
    • We need to stop any extra LB/REB billing ASAP.
    • Stop all LB/REB billable work ASAP until further notice or approved by Steve.
    • Email to Steve ASAP and CC Melissa to state number of hours you billed last month (roughly - do not need exact number) to LB/REB and for what purpose. Steve will reply with any questions and tell you if you are authorized to do any in future at what level.
  • Client Services - Cut Costs - Full Audit of CS - Sherilyn
    • We need to reduce CS costs and we will be doing full audit of CS for past months.1
    • Reply to myself and CC Sherilyn within a day:
      • How many hours did you bill to CS last month?
      • How many clients did you manage for CS last month?
      • Please detail, clarify, explain the average hours per client.
      • Of hours billed, how many hours were spent on client retention type of actions related to BC clients on your side and explain specifically the client and hours EXTRA beyond regular CS and what you did.
      • What ideas do you have to reduce overhead of CS hours overall but not reduce positive impact of CS?
  • Accounting - Cut Costs - Gretchen
    • We will pause a bit of proactive systems/accounting efforts for now except for a few items I want to push forward for.
    • Let's streamline and minimize regular Accounting work done. Send me link to wiki page which shows daily, weekly, monthly time estimates divided by Gretchen and Others for Accounting (not Systems) with total estimated monthly hours. I am looking for total hours for Gretchen and total for Others monthly to keep regular accounting flowing without new kaizen.
    • Delegate from yourself to Global Ishidos everything possible you can safely get off your plate to free up your time.
    • Systems: I want to cut time and costs and I also decided to allocate this cost to clients. Email each Systems person and have them reply to me and CC you and state total hours they billed for Systems to LB/REB last month and their top 5 ideas to possibly reduce those hours. DONE by Gretchen 10/10
    • Come up with draft policy to allocate Systems hours to clients starting in Month 2 for clients of one entry from one systems Ishido of perhaps .5 or 1.0 or whatever makes numbers sense once we look at numbers and keep it simple so perhaps rotate clients quarterly so they get 1 entry per quarthan having to make lots of little entries each month.