SCM Business Services LLC. A Full Service Bookkeeping, Payroll Processing and Consulting Firm.
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Industry Services:  Business Management  |  Property Management  |  Hospitality  |  Personal Heathcare  |  Construction and Related  |  Restaurant and Lounge
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Frequently Asked Questions

Q:        What do you need from me to get started?

A:        Based on the level of service, we generally will always need some historical data in order to begin.  These would include bank statements with cancelled checks or images, vendor or customer invoices, pay stubs and employee information, copies of sales tax returns, and a legal business name, address, and employer identification number.

Q:        How (and how often) do we exchange documents for processing?

A:        We prefer to have a minimum of weekly or bi-weekly communication with our clients.  This includes exchanging documents in person, via fax, email, or mail.  It is also beneficial to adhere to a standard schedule, knowing that payroll, checks, or various reports are available at the same recurring time, day, or date.

Q:        How will you process my paperwork?  What software do you use?

A:        We use a variety of software for different applications.  Our primary         software is MAS90.  Many clients use QuickBooks or Peachtree, but we have experience with Business Works, Great Plains, Timberline, One Write,  DacEasy, and many others.  We will also process your documents and provide reports for manual postings if preferred.

Q:        How will the checks get signed and distributed?

A:        All checks are processed and returned to you for signatures.  We will gladly distribute checks in accordance to your instructions, but prefer not to be an authorized signor on any bank accounts. 

Q:        Will you monitor my banking activity and work with the financial institutions?

A:        We have a strong working relationship with many personal and business bankers in the area.  You may authorize our firm to access your account(s) for informational purposes only – including cash balances, debit or credit details, bank statement requests, etc.  We will not have authorization to sign checks, transfer funds, or request any financial transaction without your consent.

Q:        What are your fees?

A:        Our fees are based on the desired level or degree of services.  We prefer to determine the level of service and set a standard flat monthly fee, which is subject to review occasionally to make sure the fee structure is fair for both parties.  If the services are sporadic or difficult to determine, we will implement an hourly rate.  The hourly rate is determined by the level of service and will be determined prior to commencing services.  Out-of-pocket expenses (such as postage, office supplies, check stock, or forms) will be billed at actual cost in addition to the standard fee.

Q:        What do you do with my documents when you are finished processing them?

A:        All original documents are returned to you at a specified time, usually semi-annually or annually.  All pertinent documents related to our services are copied and retained for our permanent files.  Such permanent copies would include bank statements, payroll registers, payroll tax returns, sales or use tax returns, financial statements, and other correspondence.  Unless requested, we normally do not copy all vendor invoices, cash receipts, or petty cash receipts.

Q:        I want to retain full control and access to my records.  Is there someway you can still assist me?

A:        Many clients are making their records available to us via remote connection.  This means the computer files and daily operations remain at your desktop, while we log-in when necessary to process transactions, payroll, prepare month-end statements, or complete your bank account reconciliation.  Naturally, there are security issues that we will want to discuss to make sure this is a viable option for you.

Q:        Can you prepare the necessary forms for a new business?

A:        After receiving the required information from you, we can prepare and file all necessary forms for a new business.  These would include the IRS Form SS-4 (Application for Employer Identification Number), fictitious name registration with the South Dakota Secretary of state and local Register of Deeds office, Department of Revenue license applications (sales tax or use tax), Department of Labor license applications (state unemployment),  and other industry-related registrations.

 

 

4700 West 26th Street Suite 100 • Sioux Falls, SD 57106 • Telephone 605.362.6020 • FAX 605.362.6021