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CNR Consulting’s

Accounting Services

Bookkeeping Services

CNR Consulting LLC utilizes QuickBooks Accountant for all client bookkeeping and accounting needs. As QuickBooks ProAdvisor accountants, this allows us to pass savings on subscription fees directly to our clients who will never pay the full subscription costs that Intuit QuickBooks advertises for all plans on their website. After completing the Exploration Phase detailed below, our team will determine which QuickBooks subscription level is best suited for your business and will perform all the setup legwork for you.

We at CNR Consulting LLC know that every small business is different, therefore the bookkeeping needs of each potential client must be assessed on a case-by-case basis rather than using the more common cookie cutter approach that other web-based bookkeeping services offer. Onboarding quotes and retainer fees are not standard but are carefully crafted based on what your small business should have to be set up for the greatest level of success. Our goal is to start on a solid foundation by understanding as many expectations as possible, so our onboarding process occurs in phases, starting with:

Phase I

The Exploration: During this phase we complete a comprehensive review of both the quality and accuracy of the existing bookkeeping practices along with the accounting systems and processes in place which include but are not necessarily limited to the following:

  • Bookkeeping and financial data accuracy
  • Income recording process – understanding invoicing and received payments
  • The QBO Company setup and information within the online file
  • Bill payment processes and volume
  • Expense reimbursements and volume
  • Identify the potential for and provide fee ranges for implementing and connecting any new software applications. (Ex: payroll)
At the conclusion of the exploration phase, CNR Consulting’s staff will provide a comprehensive results report which details all exploration findings that are scored based on the five firm principals that dictate our promises to you as your future accountants:

1) Organization Results:

  • Company structure, account, and settings.
  • Merchant account and settings
  • Banking & Connections, Reconciliation Histories
  • Balance Sheet – Assets & Liabilities
  • Profit & Loss – Income & Expenses
  • Lists – Classes, Recurring Transactions, Products and Services
  • Payroll & Contractors

2) Accuracy Results:

  • Bank & Credit Card Transactions and Reconciliations
  • Trial Balance Review & Tax Classifications
  • Accounts Payable, Accounts Receivable Review
  • Attachments, Backup Documents, Receipt Review

3) Transparency Results:

  • Contract Attachments for Customers
  • Contract Attachments for Vendors
  • Backup attachments for all Journal Entries
  • Backup Statement Attachments for all Reconciliations
  • Audit Log Review

4) Compliance Results:

  • Chart of Accounts Review
  • GAAP Review of Income Recording Practices/Processes
  • Sales, Service, Payroll Tax Review
  • Comprehensive Review of Current & Long-Term Liabilities
  • Comprehensive Review of Assets and Depreciation
  • Comparison of Federal Tax Returns to Books

5) Security Results:

  • Review of Banking/Credit Card Connections & Password Storage
  • Review 2-Factor Authentication Practices
  • Review CPI (Card Processing Industry) Compliance
  • Review Employee/User Access Levels
  • Review Document Storage and Security Practices
After having gathered as much information about you and your business as possible during the exploration phase, we will review the results together with you to determine if you would benefit from our services. If it is determined at any point that you would better benefit from other sources for accounting management aside from our firm, up to and including hiring a full-time accounting and administration professional, we would so advise. It is our mission at CNR Consulting to serve and advise all Kansas small business owners honestly and honorably, with discretion and in their best interests, regardless of whether we represent them as a contracted client. Upon ascertaining that you and your business may benefit from our services, we move on to Phase II.

Phase II: Scrub & Polish

  • This phase consists of either one of two courses of action which are connecting and/or migrating your existing books to our firm QuickBooks account, or creating a new QuickBooks account, both of which will be managed directly by us. So, rest assured that you will be in expert hands.
  • After connecting an existing or creating a new set of books we will review established small business prior tax filings against the most recent federally accepted tax returns (as applicable), create a chart of accounts that is most suitable for your business type and its operations, lock the books for any closed periods, then bring all account reconciliations to current. This includes but is not limited to bank reconciliations, loan account and other liability account reconciliations, investment account reconciliations, payroll tax reconciliations, and depreciation account reconciliations.
  • This phase is also the setup phase where we will link and/or migrate all your existing banking and credit cards, POS merchant services, and any other existing cloud-based applications to your QuickBooks Online file; as well as connect any new applications or services that may result from our proposal for Phase III for Process Improvements.

Phase III: Process Improvements

  • This phase is developed during the exploration phase and is included with any quotes for Phase II, the Scrub & Polish phase. As part of our commitment to ensuring your success, we may recommend improvements to your accounting/bookkeeping and record keeping practices that will align with our cloud accounting migration services. This includes documenting workflows and timelines, due dates, and client to accountant communication expectations.
  • Secure cloud document storage and electronic signature for client requested documents is included as part of the bookkeeping service with CNR Consulting. We will create a set of folders within the firm’s Citrix Share File account for both storage and secure file exchange, as well as to process any electronic signature requests.

Phase V: Retainer Onboarding

The final phase of Retainer Onboarding is precisely that. We implement all the process improvements agreed upon and execute a client contract for ongoing retainer accounting and bookkeeping services, with each client contract crafted to include the specific needs of you, the owner(s), and your business.
All client retainer agreements include the following, what we consider to be our most basic bookkeeping package with a cadence that is necessary for your business based on estimated transaction volumes:

Weekly:

Your bookkeeper will log into the QBO file for your business once per week to update the bank feeds and monitor cash flow. Your bookkeeper will also monitor accounts payable against bank balances to ensure no overdrafts, or no overdue bills. Your bookkeeper will also monitor accounts receivable against source systems to ensure no outstanding or pending deposits. During the weekly updates, CNR Consulting staff will perform the following:
  • Refresh bank feeds and categorize all transactions to appropriate accounts and locations or projects, or other classes as dictated during set up for analytics during the process improvements phase.
  • Sort, label, upload, and attach all receipts and documents associated with all incoming and outgoing transactions.
  • Revenue transactions will be split in the chart of accounts to their respective product or service income accounts after confirming revenue types with source systems (where your cash comes from.)
  • All bills received will be entered with bill copies attached and added to the Accounts Payable report.
  • Daily monitoring of emails and communication from business ownership and other vendors/customers.
  • As needed: Prompt resolution to any banking and credit card connection issues to QuickBooks.
  • As needed: Prompt response to any document requests from CPA, attorneys, or others with approval of ownership.
  • As needed: Notary Public services performed in person when requested by ownership. (Complimentary w/ mileage reimbursement – local clients only and encompasses the Topeka areas, Manhattan, Junction City, Ogden, Milford, Fort Riley, Abilene.)

Semi-Monthly or Bi-Weekly:

Should your business employ anyone, your bookkeeper will perform the following actions in addition to the weekly accounting updates:
  • Run company payroll per the established cadence, then sync the payroll to your QuickBooks file.
  • Provide all payroll reporting to ownership including PTO balances, benefits balances, and insurance balances.
  • Onboard and/or dismiss employees as necessary – including management of all confidential employee files and documents, background checks, and contracts.
  • Ensure all employee taxes including Department of Labor for UI, state Department of Revenue for state tax withholdings, and Forms 941 for all federal tax withholdings are filed in a timely manner.

Monthly

Your bookkeeper will log into the QuickBooks file once per month (approximately 3-5 days after the month is over) to perform the month-end close work. Month end close work includes:
  • Downloading all bank, credit card, investment, other interest, and revenue source system statements; and reconciling all cash and balance sheet accounts every month including all payroll register accounts.
  • Entering all monthly journal entries to record depreciation, interest expenses, and any other recording of changes in assets, liabilities, or owner’s equity during the month including those from any external accounts.
  • Provide all month-end reporting including Cash Flow, Budget v. Actuals, Balance Sheet and Profit & Loss reports to business owners and/or management.
  • Your bookkeeper will file and submit all state and local tax payments that may be due monthly.

Quarterly:

At the end of every fiscal quarter, your bookkeeper will perform a spot-check review of the books to ensure that everything is being recorded properly and all licenses and business details are up to date. This includes a thorough review of all vendor accounts for tracking 1099 vendors, customer accounts for any outstanding items, and balance sheet accounts for any transactions that appear rogue or out of place. Your bookkeeper will also file all estimated payroll, state, and local taxes and will provide a quarterly update and report packet to ownership/management.

Annually:

Your bookkeeper will perform all year-end preparation for filing tax returns during the month of January of every year, which includes but may not be limited to the following:
  • Filing all 1099s and employee W-2s after reconciling all payroll accounts (by January 31).
  • Ensure all accounts are reconciled and locked for the year after December reconciliations.
  • Works directly with the CPA to ensure all federal taxes are filed accurately and in a timely manner. (Prepared books are sent no later than February 10th of every year.)
  • Your bookkeeper will also store all completed tax returns and enter any adjusting entries as dictated by the CPA.
  • If applicable, your bookkeeper will file all state and local taxes at year-end (January).
  • Your bookkeeper will monitor and renew all applicable business licenses.
  • CNR Consulting hosts an annual meeting with ownership to discuss the year-in-review reporting provided, including Budget vs. Actuals, (to prep for the next fiscal year), service performance for the year, Profit & Loss for the year, and review of retained earnings and equity accounts.

Service Agreement Disclosure:

Ethically and legally, we must point out that you are responsible for executive management decisions, business functions, and internal controls. We are responsible for performing specific bookkeeping and accounting services. As a client, you are ultimately responsible for evaluating the adequacy and results of our services to you. It is your responsibility to establish and maintain internal controls, including monitoring ongoing activities and the results of your business’s employees (as applicable), subcontractors (including CNR Consulting,) and volunteers. CNR Consulting, LLC shall not be liable to client for any incidental, consequential, indirect, or punitive damages, including but not limited to lost profits. The services provided by CNR Consulting, LLC cannot be relied on to detect errors, fraud, or illegal acts that may currently exist in your organization or occur in the future. However, we will inform the appropriate level of ownership and/or management of any material errors and of any evidence or information that comes to our attention during the performance of our bookkeeping procedures. In addition, we will report to you any evidence or information that comes to our attention during the performance of our bookkeeping procedures regarding illegal acts we suspect may have occurred in the past.

Virtual Mail Services

  • CNR Consulting LLC had utilized Earth Class Mail for all cloud mail and virtual deposit services prior to January 1, 2024. Earth Class Mail has recently been acquired by Legal Zoom which increased the prices for the same services previously offered by Earth Class Mail. CNR Consulting is currently sourcing new cloud-based mail services and will update this page with our recommendations by December 31st, 2024.
  • Until that time, we highly recommended that all payments received be done so via direct bank ACH methods versus mailed paper checks, and that regular PO boxes be established with the U.S Postal Service for any home-based businesses.

Bill Pay & Expense Management

  • CNR Consulting LLC utilizes Bill.com for virtual bill payment services, and Tallie Emburse for all credit card expense management services, and only should these services be unavailable from any client’s regular banking services. Both systems are a part of the QuickBooks App integration feature and can be mapped and synced to an existing set of QuickBooks. Utilizing external applications for expense management is a common process improvement recommendation for more established small businesses that issue employee credit cards, or mid-sized businesses that require more extensive expense management and bill pay services.
  • Utilizing these external cloud-based applications for expense and credit card management that communicate directly with QuickBooks allows us at CNR Consulting LLC to automate as many processes as possible in order to keep accounting retainer fees low for you, our clients, and to save some trees in the process.

For more information on Bill.com for expense management and bill payment services, its plans and pricing, and its features, click here.

For more information on Tallie Emburse for credit card management, its plans and pricing, and its features, click here.