Co-op Services

Bookkeeping

  • Recording transactions in accounting software such as QuickBooks Online 
  • Basic financial reports for your co-op’s internal use, on a monthly or quarterly basis
  • Accounts payable and receivable support – taking on some of the work of making sure the bills are paid –  invoicing your customers, so that you get paid.

Accounting

  • Support with creating your co-op’s annual budget and preparation of financial statements as needed
  • Surplus and Patronage allocations – we’ll help identify and track key information, like revenue and hours worked, to support accurate and equitable surplus allocations and plan for patronage distribution.
  • If your co-op provides services, we’ll help you track and categorize your revenue, no matter how many contracts you have or complicated your fee structure is.
  • For worker co-ops selling products or maintaining an inventory, we can perform sales and inventory reconciliations to ensure numbers in your POS system or e-commerce platform match actual sales and inventory on hand

Payroll

  • Paying employees or contractors in software like Gusto or Quickbooks Online
  • Helping you get proper employee paperwork filed, such as new hire reporting and sending W2s
  • Making sure payroll reports are filed and payroll taxes are paid – accurately and on time.

Tax Preparation

  • Prepare and file your 1120-C – we can file your Form 1120-C, the federal income tax return for cooperative associations, due each year, and any state tax filings as needed.
  • Patronage compliance, IRS Subchapter T guidance, production of 1099-PATRs

Consultation

  • Meet with you monthly or quarterly to discuss internal financial reports
  • As-needed consulting for cooperative-specific accounting and financial infrastructure, risk management, Quickbooks troubleshooting, Chart of Accounts optimization — and more.
  • Forecasting and financial projections – providing tools to support scenario planning, budget-to-actuals tracking aligned with your fiscal goals, as well as training and mentorship for your team to run forecasts and projections themselves!

Reminders and Resources