PS20 - Practical Solutions

Ps20 is an accounting firm specializing in bookkeeping services for churches, non‐profits
and small businesses. Essentially, we become your accounting department and we ask
that you treat us as such. You’re basically outsourcing your accounting, bill pay, etc. to
us.

Ps20 stands for “Practical Solutions”! From time to time, you will hear us refer to
ourselves as “Practical Solutions”. Our legal name is Ps20, Inc. and our web address is
www.ps20.net

• Enter all bills into Quickbooks and record them to the appropriate expense account.
  • Regular monthly bills (telephone, copier lease, rent, etc.)
  • Credit Card company bills (Including itemized transactions)
  • Personal expense reimbursements
  • Capital expenditures and maintenance of depreciation schedules
  • Payroll transactions (record payroll journal entries if not completed by Ps20,inc.)
• Issue and distribute all checks
• Record Deposits
• Reconcile all monthly bank statements including all deposits, checks, wire transfers, etc.
• Process payroll transactions
• Provide month end financial statements and executive package

Ps20, Inc. will determine monthly costs on a client by client basis. This determination is
based upon transaction volume and not necessarily revenue volume. The average price
range is between $500 and $1,000 per month plus general and administrative expenses
such as postage. These general and administrative expenses typically range from $5 to
$50 per month.

Ps20, Inc. also provides payroll services. These services are charged monthly based
upon employee count. Additional fees will apply for Quarterly 941 filings, Year End
processing and W‐2 preparation and distribution.

• A computer with Windows XP or newer or Mac OSX or newer; Ps20, Inc. uses Microsoft Terminal Services for you to access your data.
• Windows XP and Mac OSX have Microsoft RDP communications built into them.
• A fax machine or Scanner ‐ All files (bills, bank statements, Expense reports, etc.) will be submitted via email or fax.

• Bank Account Information
  • Bank Name
  • Bank Routing Number
  • Bank Account Number
• Online Banking Information
  • Website Address
  • Login / Username
  • Password

We will provide you with a customized implementation plan based upon your church. This will further outline what is necessary to get started.

If you are currently using Quickbooks, It is no problem for Ps20, Inc. to convert your data to the latest version of Quickbooks.

If you are not currently using Quickbooks, we will work with you to effectively convert balance sheet and income statement data. We will not convert data on a transactional level.

Ps20, Inc. utilizes ADP for payroll processing. If you are currently using a different payroll provider, we will handle the conversion to ADP.

• Quickbooks access – Ps20, Inc. is located in the Atlanta, ga area and Quickbooks will be
  hosted out of this office. Because many of our clients are located outside of Atlanta, we
  provide you a login to our server via Microsoft Terminal Services as well as a login to
  Quickbooks. This gives you the ability to access your financial data at your convenience,
  from any internet connection.
• Submitting bills and other paper files – You may either scan your bills and email them to
  Ps20, Inc. or simply fax them. We ask that you submit bills once a week on the day of
  your choice. Once the bills are received by us, we will send you a confirmation email
  stating that your bills have been received and will be processed shortly. It is very
  important that you ensure you receive a confirmation email from us. If you do not
  receive that email within 48 hours, then we have not received your invoices. Please
  contact your account manager immediately to resend your bills.
• Filing – It is your responsibility to maintain all files for audit purposes. We will even give
  you some of the files that you’ll need as well as the processes associated with them.
  Here are some examples…
  • Bills to be Paid – We will provide this file for you and even the processes
    associated with “What to do when a bill comes in”.
  • Vendor File System – We recommend creating a hard copy, paper file for each
    letter of the alphabet. Once the bills have been sent to us, please file each bill
    accordingly, by name.
  • Manual check file – This is for any manual checks that you write.
• Deposits – We will provide this file for you to. This will contain any deposits that
  you make!
• Cash Requirements Report – If necessary, this report will be emailed to you before each
  check run and is a heads up on: 1) your current cash balance before the batch of bills are
  paid, 2) the amount of your pending bills and 3) your cash balance after your pending
  bills batch is paid. This report is very useful in recognizing your cash position. It may be
  necessary to hold checks based upon cash balance, vendor management, etc. This is the
  time to confirm all vendors to be paid and perhaps delay payment of one or more bills.
  This is also the best time to confirm that all bills have been entered and are scheduled
  to be paid on time.
• Manual Checks – On occasion, you will need to write a check yourself, using hand
  written check stock. This is typically done when a vendor needs “Cash on delivery” or
  when you need something to be paid when purchased. Please make a copy of this
  check and fax or email this copy to us in a separate batch from your weekly bills. Make
  sure to file this copy in the “Manual Checks” file discussed above.
• Deposits – It is recommended that you make all deposits yourself. Please make a copy
  of the deposit slip and each check. Be sure to let us know what revenue account to

  book the deposit to. You can just write the account number on the deposit ticket. Fax
  or email this report on a weekly basis, separate from your bills.

• Payroll Transactions – If you do not utilize Ps20, Inc. for payroll, please fax or email the
  payroll reports from your current payroll provider. It is highly recommended that you
  utilize Ps20, Inc. as your payroll processor. This greatly alleviates confusion with regards
  to the month end process.
• Month End ‐ We will provide a copy of the general ledger showing each transaction
  (Check, Deposit and Adjustment) for the month. You will need to review this report
  provide any changes (utilizing the “Journal Entry Form”) within 10 days of receiving the
  report. If we do not hear back within 10 days, we will assume all transactions are
  approved and will move forward with closing the books. Once the books are closed, we
  will provide you with your Balance Sheet and Income Statement. If there are any other
  reports that you would like in the monthly “Executive Package” we will do our best to
  facilitate that need.

• Expense Reimbursement Form – We will provide this form for you. This is for expenses
  that the employee paid for out of their own pocket. Employees will need to submit
  their expense reimbursement form for approval to their supervisor on a monthly,
  weekly or bi‐weekly basis. This form will need to be approved by their supervisor and
  then faxed or emailed to Ps20, Inc. along with the other bills. It is very important that

  you collect receipts for all expenses and that you file these receipts and expense reports
  in the vendor file system. It is not important that Ps20, Inc. receives copies of the
  receipts. Just the expense reimbursement form is sufficient.

• Check Request Form – We will provide this form for you. This form is for payments that
  need to be made where no bill is available. This might be for 1099 contractors,
  volunteer reimbursements, Payments for conferences or other events, etc. It is
  important that appropriate approval processes are implemented and that the check
  request form is included in the weekly email or fax of bills.
• Fax cover sheet – Whether you fax or scan and email us, every time you send us
  something, it’s best to utilize this form. In fact, we’ll even put the template together for
  you!
• Other forms – Ps20 will provide other customized forms for you to use. For example,
  payroll change forms, direct deposit auth form, housing allowance calculator, weekly
  checklist of tasks, etc. If you would like a form that we don’t currently put in the new
  customer package, then just ask, and we’ll get one for you. We want to do our best to
  over communicate with you and give you all the tools that you need to operate.