Our Branch Banker team expertly managed payroll processing for each designated period, meticulously updating the payroll register and incorporating employee bonuses to ensure fair compensation. prioritized accuracy in tax filings, including the essential 941 withholding tax form, to maintain compliance. In addition, we efficiently processed sales tax, payroll tax, rent, utilities, and supplies for the respective months, guaranteeing that payments were made accurately and on time. This thorough approach allows us to support our employees and uphold our financial responsibilities seamlessly.

The Financial Reporting team has achieved significant milestones this quarter, including a robust monthly cash flow with a net increase of $196,000 by December. They successfully compiled comprehensive financial reports such as the Profit and Loss Statement, Balance Sheet, and Quarterly Report, which highlighted profit of $31,313 by the end of April. Additionally, the team conducted a thorough break-even analysis, establishing that total sales at break-even reached $3,416,976.86, with a break-even point approximately 1,178,268 units. Their contributions have also supported market and sales strategies, ultimately aiding in achieving $265,000 in sales at LIU.

Our bookkeeping team is dedicated to maintaining accurate financial records and ensuring the integrity of our accounting processes. We update the Trial Balance daily, verifying that total debits match total credits for a precise general ledger. general ledger serves as a comprehensive record of ongoing transactions, organized into assets, liabilities, revenues, expenses, and owner’s equity. Additionally, we meticulously record daily transactions in our bookkeeping journals, ensuring each entry is accurately posted to the general ledger for seamless financial management.