LANstar llc - An zon Ari a IT all Sm sine Bu ss nc e si...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: An zon Ari a IT all Sm sine Bu ss nc e si Click icon to add picture History Ø Started business out of garage Ø 6 months hired first employee Ø Partnership Company Ø 10 Employees Ø 1 Office Manager Ø 1 Bookkeeper Ø 1 Cable Technician Accounti ng Documents are kept for 10 years. Ø Source The original hard copy is kept along with a Process digital copy. Ø Software : QuickBooks & ConnectWise Ø Keep track of accounts payable Ø Keep track of employee hours and sales invoices Ø There is no standard procedures in handling cash. The company believes that there is no need to undergo such trouble in Internal Control Procedu res 7 Internal Control Principles Establish responsibilities Maintain adequate records Insure assets and bond key employees Separate recordkeeping from custody of assets Divide responsibility for related transactions Apply technological controls Perform regular and independent reviews Compan y Overvie w Ø Although they do not have a standard procedures for handling cash they rely heavily on the trust they have for the bookkeeper. The company otherwise has in place relatively good internal control practices. ü They employ an outside CPA firm to process their tax, depreciation and as keeping up with the practices of accounting would be more cost effective ü The CPA firm also act like a second opinion for their books. ü The company has 2 separate bank accounts. ü One for processing solely credit payment ü The other is used for all payable and payroll ü Their engineers are all issued with a Blackberry phone with ConnectWise software which reduces errors incurred from handwritten receipts. Questions & Answers NK THA OU! Y ...
View Full Document

Page1 / 6

LANstar llc - An zon Ari a IT all Sm sine Bu ss nc e si...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online