Embedded Files
Project Context
Project Context
Client Scenario:
"Mookie the Beagle Coach" – A hybrid startup offering professional pet training services alongside retail inventory sales. The entity operates as an LLC taxed as an S-Corp.
The Objective:
To build a scalable accounting system from scratch in QuickBooks Online that captures distinct revenue streams, tracks physical inventory, and adheres to California sales tax compliance.
My Role:
Full-Cycle Bookkeeper responsible for system architecture, Chart of Accounts design, and financial reporting.
Operational Complexities
Operational Complexities
The client required a system capable of handling two very different workflows under one roof:
Hybrid Revenue Recognition: Tracking income from intangible services (training classes) alongside physical retail goods (agility equipment), which triggered different revenue recognition and tax rules.
Inventory Tracking: The business needed to track Quantity on Hand and Cost of Goods Sold (COGS) for specific SKUs like "Treat Pouches" and "Weave Poles."
S-Corp Equity Structure: The entity required specific equity accounts for shareholder contributions and distributions to maintain tax status integrity.
System Architecture & Workflow
System Architecture & Workflow
1. Chart of Accounts Design
Customized the Chart of Accounts (COA) to align with S-Corp tax requirements (Form 1120S), ensuring proper categorization for Officer Compensation, Shareholder Distributions, and operating expenses.
2. Inventory & Sales Tax Configuration
Configured the Automated Sales Tax center for the California Department of Tax and Fee Administration (CDTFA). Executed a manual 9% rate override to address specific tax jurisdiction requirements, ensuring precise application to taxable retail products while keeping service revenue exempt.
3. Reconciliation & Data Verification
Utilized CSV uploads to simulate Bank Feeds, matching external bank data against the General Ledger. Verified that the Undeposited Funds account cleared correctly to prevent income duplication.
Supporting Documentation
Supporting Documentation
Outcome
Outcome
Built a QuickBooks company file from scratch, scalable for a service-and-inventory business.
Delivered a clean Profit & Loss statement, segmented by revenue stream (Service vs. Retail).
Established a workflow for monthly reconciliations to ensure audit-readiness.
Bring Precision to Your Financial Team
Bring Precision to Your Financial Team
Leveraging nine years of tax compliance experience and formal accounting training. Currently open to corporate accounting internships and full-time opportunities in the Central Valley.
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