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Accounting & Taxation Support

Studio MFP’s Accounting and Taxation Support team provides an array of services in bookkeeping, accounting, and taxation to CPAs, accounting firms, entrepreneurs, and individuals.

Certification

Our qualified accounting professionals have a minimum of five years of international accounting experience, and can provide valuable support to your existing accounting department or act as a virtual accounting team depending on the level of support you need. Once we understand and get familiar with your books of accounts and accounting procedures, we can start handle all your routine day-to-day tasks such as preparing Invoices, updating bills, applying customer payments to invoices, issuing checks to outstanding bills, updating and reconciling bank and credit card transactions, maintaining accounts receivable and accounts payable, handling complex accounting systems for multiple location-based organizations and also supporting the preparation of US tax returns for CPAs.

Below is a range of support that our Virtual Assistants provide to our clients:

  • Bookkeeping Support Services
  • Accounting Software Setup
  • Preparing Chart of Accounts
  • Accounts Receivable (AR)
  • Accounts Payable (AP)
  • Bank & Credit Card Reconciliation (BRS)
  • Inventory, Payroll
  • Fixed Assets & General Ledger

Accounting Support Services

  • Books cleanup
  • Monthly, Quarterly, & Year-end Reviews
  • Preparing Financial Statements
  • Preparing Adjusted Trial Balance
  • Getting Reports (Book & Tax Purposes)
  • Management Reporting
  • Financial Analysis

Accounting Software

  • QuickBooks
  • Peachtree
  • MYOB
  • Quicken
  • Sage
  • NetSuite
  • Simply Accounting
  • And More

Taxation Support Services (only for US CPAs)

  • Form 1120 (Corporations)
  • Form 1120S (S Corporations)
  • Form 1065 (Partnerships)
  • Form 1040 (Individuals)
  • Form 1041 (Trusts & Estates)

Taxation Software

Go-system, Drake, Pro-Series, Pro-System, Pro-FX, Turbo Tax, Ultra Tax Lacerte, ATX, etc.

Tax Support Preparation Process:

The following is the process followed for tax preparation (Only for US CPAs):

CPAs’ Responsibilities:

Send us the scanned source documents, organizers and tax preparation instructions from your clients
Provide tax software access through Could9 or Remote Desktop Process (RDP) and provide login credentials for access
Review tax returns prepared by us

Studio MFP Responsibilities:

Tax preparer prepares the tax return and updates the current year’s working papers
The reviewer reviews the tax return and makes a list of open items
We update work status on a day-to-day basis for you
Move the completed files (workings) from the local system to Client FTP or Server for review

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What happens when I get my
Virtual Assistant?

Learn how our Virtual Assistant program works.
What’s the difference between Studio MFP’s virtual assistants than other companies?

Most virtual assistant services provide someone to do the research, communicate, or send you information. Our virtual assistants can do all that, but most importantly what separates us from the others is that we do the work. You need help with your hosting account? Done. Graphics designed? Done. Meetings scheduled, and your notes transcribed? Done. Logo formatted for your vendors? Done. We don’t stop with just helping out, we actually execute on the work you need.

Do virtual assistants complete my other Studio MFP services?

Studio MFP is exactly what we say we are, a studio. So if you request something more in depth than our standard virtual assistant services, we will work internally to transfer hours, or generate invoices to make sure your work is done. We all work together throughout our departments to ensure your projects are completed. It’s seamless!

Will my clients know I’m using a virtual assistant?

This is completely up to you. We can communicate directly with your clients, either with our email, or a branded email from your domain like “joesassistant@yourcompany.com” or even “tom@yourcompany.com.” Communicating with your clients is under your discretion. Some clients like having a support tool set up like Zendesk to mask all support communication. We can assist you, or work with your tech team, in generating a new email for your virtual assistant. Depending on your email service a small fee may be required for a new email address. Studio MFP is not responsible for fees incurred with any email setup. Contact us for more details!

How much does a Virtual Assistant cost?

We have premade plans set up from 12 to 80 hours per month, starting at just $420 per month. For custom plans, we have invoicing options for one-off months or custom Full Time Equivalent options. Register in the Studio MFP App to learn more.

How do I communicate with my virtual assistant?

We work solely through email for our virtual assistant program. This allows every task to be documented, and able to be sent to the appropriate team member. You will have a Digital Solutions Consultant (your general account manager) to set up the virtual assistant, then afterwards you will be able to communicate with them directly. We are hoping to offer chat and Skype/calling options in the near future.

When does my virtual assistant work?

Our virtual assistants are located in most time zones, but depending on the services you are requesting, it could be completed overnight by our international team. Our standard service business hours are 9:00am to 5:00pm EST, but what works well about our virtual assistant program, is that we complete most of our work while you sleep! Once we’ve received your request we will give you a confirmation by your VA, or DSC, and a timeline for completion. It helps if you send us due dates, or request when tasks be completed.