Telesia & Company, LLC

Value Added Services

The Partners and Managers of Telesia&Co work on site to provide management, staff and officials with direct access to our most experienced professionals;

Our senior management team has an excellent working relationship with regulators at all levels of responsibility;

The Partners and Managers of Telesia&Co are available throughout the year to provide cost-free telephone assistance and advice and your telephone calls will generally be returned within two hours;

The firm's senior management team has direct access to a broad range of Corporation specialists and consultants (attorneys, compliance auditors, EDP (IT) auditors, Federal examiners);

The Partners and Managers of Telesia&Co have significant experience working with fraud related issues and can provide meaningful internal control recommendations;

Telesia&Co has established a technology partnership with Security Exchange Commission Compliance to assist our clients in reviewing/developing policies and standards to meet the requirements of SOX Rules and Regulations, perform information security assessments, and conduct system vulnerability scans and computer forensic services. Security Compliance Associates is an information security consulting firm specializing in Policy Review and Development, Vulnerability Assessment, Computer Forensics, and Information Security Training designed specifically for credit unions;

Telesia&Co hires "Seasoned Audit specialists" to enhance our audit reviews and internal control recommendations;

Telesia&Co will keep your management team abreast of important accounting, IT and regulatory changes that impact corporations or companies;

Our services and audit fees are in line with your budget and they can be negotiated based on the amount of work conducted or outline by management;

Credibility, Integrity and Honesty - we don't recommend unnecessary services;

We are very familiar with the computer software programs used by the smallest companies and major corporations.

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Audit Related Services

Certified "opinion" audits

Balance sheet audits

Reports on examination of Internal Controls over call reporting

Audit in accordance with "Sarbanes-Oxley Act (SOX) Guide"

Agreed-upon procedures

COSO audits

Internal audit services to assist the Audit Committee

Fraud audits

IT audits

Internal control and compliance reviews

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Consulting Tax Services

Assist management in responding to regulatory findings

Assist in developing the company's internal audit department

Assist in performing due diligence of merger candidates

Assist in the development of an appropriate financial and IT policy and model

Preparation of IRS form 990 for state chartered companies

Preparation of IRS filings

Evaluation of policies and procedures

Bank reconciliation preparation

Loan policy and portfolio reviews

Ballot counts

X9/TG3 - (ATM/POS) - Network Security compliance audits

Data processing reviews

Data processing system selection assistance - Assistance in developing/updating disaster recovery business/audit

resumption plan

Training for accounting, Financial and IT staff, management, and members of the Supervisory Committee and Board of Directors:

* Understanding the company's financial statements and key ratios

* Developing effective procedures for active staff members

* Increasing internal control/fraud awareness

* Implementing new accounting pronouncements that affect the company

* Understanding and implementing new Rules and Regulations, and state statutes

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Training & Education

At Telesia&Co, we believe that Training and Education are integral to your successful Company Practice Development. That's why we offer a comprehensive series of classes and seminars covering practice development, new developments in technology, and the critical issues that impact your daily accounting, financial or IT internal controls at your office.

Our core training resources are classes, so you can conveniently attend our classes from the comfort of your office, home, or any other location with an Internet connection. As your partner in practice development, Telesia&Co typically makes training easier and simple.

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Payroll Services

Our firm offers complete payroll preparation and payroll tax reporting services. We prepare all federal and state returns and offer full magnetic media and electronic filing capabilities.

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Cash Flow & Budgeting Analysis

Our firm offers expert cash flow and budgeting analyses that can help you minimize cost overruns, lost purchase discounts, and uncollectable receivables. Many of our clients state that these value-added services are indispensable.

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Full Charge Bookkeeping Plus Controllership

Our Full Charge Bookkeeping PLUS Controllership Package is designed to complete your daily financial record-keeping tasks as well as your month-end closing tasks, followed by preparation of your monthly financial reports and analysis of your business.

We want you to feel confident that your accounting system accurately reflects your current situation so you can concentrate on running your business instead of trying to stay on top of your books. The steps involved with basic bookkeeping can be overwhelming depending on the size of your business and the number of transactions. If you no longer feel like you have control of your books, give us a call. We will manage your business finances and keep you on the right track.

- Accounts Payable

* Input vendor invoices to payable system

* Classify invoices to the proper G/L account

* Request and maintain vendor W-9 information

* Maintain vendor master files

* Respond to vendor inquiries about payment status

* Retrieve copies of payments as necessary

* Prepare and file required 1099 forms

* Process requests for stop payments when necessary

* Cut checks to vendors based on due dates or client instruction

* Reconcile vendor statements to accounts payable ledger

* Reporting to organization on detailed aged payables and cash requirements

* Year end 1099 forms

- Accounts Receivable

* Billings prepared as needed by TAD and mailed out (all billings provided to Client for approval prior to mailing)

* Record and account for revenue

* Input receivable transactions into the accounting system

* Prepare and deliver periodic statements

* Issue client-approved credit memos and refund checks

* Maintain subsidiary receivables ledger

* Process client-approved adjustments

* Apply cash received to customer accounts and resolve "short pays"

* Light phone collections as needed by client

* Client to photocopy checks and provide to TAD

* Client to prepare deposit slips (provide to TAD) and make bank deposits

- Cash management

* Process daily sales and deposit reports

* Verify daily deposits and report variances

* Reconcile and verify credit card deposits

* Reconcile monthly bank statements

- Journal entry and general ledger

- Account reconciliations

- Payroll

* Time cards, after approval, will be scanned and uploaded to TAD prior to payday

* TAD completes payroll and client prints, signs and distributes paychecks

* Prepare employee earnings statements complete with current pay period and year-to-date wages, taxes, and adjustments

* Prepare department summaries of month-to-date payroll data in addition to customized reports specific to Client

* Prepares timely and accurate notifications of tax liabilities and deposits

* Completes Year end W-2 forms

* Respond to requests for employee verifications

* Process and submit garnishment payments

* Respond to employee payroll inquiries

* Prepare and file new hire reporting to state

* Prepare, file, and pay all Federal, State, and local payroll taxes

* Reconcile health insurance payments and make payroll deductions when required

* Prepare necessary HR reports such as turnover

* Allocate payroll expenses for multi-store employees

* Prepare and process payroll accruals when necessary

- Monthly Closing

- Fixed assets accounting & depreciation what goes here?

- Monthly financial analysis and reports what goes here?

Your CPA manager's primary responsibilities involve supervision of the bookkeeping and data entry, ensuring the integrity and accuracy of your accounting system. On a monthly basis, they close the books, prepare your financial reports (balance sheet, profit and loss statements), review your outstanding payables and aging receivables and check your cash flow to help identify specific areas that need attention.

Your CPA will present this information so you will be able to understand your company's financial position each month.

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