Accounting and. Business Services for Amoco Dealers. Your Logo Here (800)

Transcription

1 Accounting and Your Logo Here Business Services for Amoco Dealers Franchise Franchise Business Business Systems Systems offers offers a a complete complete package package of of services services and and support support for for Amoco Amoco Dealers. Dealers. To To assist assist new new Dealers Dealers in in getting getting their their business business off off to to a a proper proper start start our our program program expands expands on on and and reinforces reinforces the the lessons lessons they they learn learn in in new new dealer dealer training. training. (800)

2 Services Offered! Monthly Accounting Service! Payroll Service! Tax Preparation & Planning! Business Plan Development! Pre Purchase Evaluation! Buyer Due Diligence Reviews! Retail Inventory Set-up! Merchandising Assistance! Incentive Plan Development! Audit Representation

3 Monthly Accounting Service Reports! Profit & Loss Statement! Balance Sheet! Departmental Sales, Cost of Sales & Gross Margin Report! Departmental Shrinkage Report! Gasoline Sales Graph! Gross Profit By Department Graph! W.A.M. ( Pool Margin) Report! Bank Reconciliation! Reconciliation of Daily Books & Daily Sales Analysis Report! Reconciliation of Accounts Payable, Accounts Receivable & Petty Cash! Complete Transaction Detail Reporting! Sales Tax Preparation! Quarterly Payroll Tax Returns

4 Monthly Accounting Service Also Includes! Free Custom Daily Books (Paper Books)! Free Daily Book Software & Support! Training on Completion of Daily Books! Training & Support for Retail Inventory System! Assistance With M.I.R. & D.I.R. When Necessary! Programming Ruby For Categories & Departments! Support For All Sales Tax Questions! Support For All Payroll Tax & Personnel Questions! Business Tax Planning! Assistance With Financing & Bank Paperwork! 1 Hour per Month Business Consulting Our basic monthly accounting standard fee is $ per month and covers the complete monthly accounting service. Amoco Dealers receive a 15% discount off our standard fee when referred by an S.O.M. To receive the discount, billing must be handled by EFT.

5 Monthly Accounting Service Setup There is a one time setup fee for all new Amoco monthly accounting service clients of $ This fee covers the following services.! Assistance with Amoco business plan! Pre closing meetings or telephone consultations! Review of purchase and asset allocations! Attendance at and assistance with closing! Conversion of retail inventory to cost for purchase! Programming of Ruby categories and reports! Initial training on daily books! Setup of accounting system

6 Sample Financial Statements For Retail Petroleum Dealers

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16 Sample Daily Books Recap For Retail Petroleum Dealers

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24 Payroll Services! Free set-up! Free checks! Free basic maintenance! Free new employee set-up! Free rehires! Free departmentalization! Fast payroll turnaround! We handle all payroll tax deposits! Personal service! Direct Deposit Available! Ready-to-sign Quarterly Tax Returns! We prepare reconciled W-2 s

25 Payroll Service Fees Number of Fee per Pay Period Employees Weekly Bi-Weekly Monthly Custom quotes available for 21 or more Fee of $5.00 per W-2 (minimum $10.00) at year end. Delivery/Postage at Cost

26 Tax Services! Our tax department provides complete tax preparation, tax planning, and audit representation services.! Because we specialize in helping retail petroleum, we keep up on all the latest tax matters that affect their business. We know what the IRS is looking for when they audit retail petroleum dealers, so we can help them avoid the tax traps that exist in their industry! We can help dealers comply with the complex sales tax rules for C-Store and Bay Operators.! Our year round tax planning, will help make sure you pay the lowest tax the law allows.! We can help you take advantage of the new Work Opportunity Tax Credit.

27 Sample Business Plan For Dealer School

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30 New Dealer Setup Outline First Meeting or Consultation Prospective Dealer Consultation 1) Review accounting needs and services available 2) Review choice of business entity 3) Supply prospective dealer with industry standards 4) Review areas of due dilligence Second Meeting or Consultation Dealer Approved By Amoco (Pre dealer school) 1) Complete accounting services agreement 2) Assist with completion of Amoco business plan 3) Assist with due diligence as requested Pre Closing Meeting or Consultation 1) Complete sales tax application 2) Complete application for temporary alcohol and tobacco license 3) Complete DBA paperwork 4) Setup payroll service & payroll information

31 New Dealer Setup Outline At Closing 1) Assist with inventory calculations 2) Program Ruby categories and reports 3) Provide shift report forms 4) Provide payroll setup for new employees 5) Review store layout and procedures with new dealer. 5 Days After Closing 1) Train new dealer on completion of daily books 2) Assist as necessary with accounting and accounting procedures 3) Obtain copies of closing statements and purchase documents 7-10 Days After End of First Month 1) Contact new dealer for monthly work 15th-19th Day After Month End 1) Sales tax sent to dealer After End Month Work Received 1) Financial statements sent to dealer

32 Closing Check List 10 Days Before Closing Review sellers sales tax records for successor liabilities Arrange for closing inventory to be taken Apply for sales tax number Apply for alcohol and tobacco licenses Obtain copies of sellers commercial personal property tax returns Apply for DBA as Amoco Set allocation of purchase price for assets, goodwill and non-compete with seller Arrange for transfer of existing phone number with seller 1 Day Before Closing Transfer funds for closing to your attorney s trust account (any excess funds will be returned at closing) Purchase change bank for opening Be sure transfer letters will be provided for pay phones, and other vending income sources Day of Closing Check inventory to be purchased for out of date items or items that are not in sellable condition