Equity & Help Inc

DATE: 9/17/2021

NAME OF POSITION: Vice President of E&H Finance (VP E&H Finance)

PERSON’S SENIOR: Chief Executive Officer (CEO)

SENIOR’S NAME: Jaime Gomez

PURPOSE (The reason why the position exists): To ensure all E&H funds are fully accounted for, recorded and correctly distributed. To collect, verify and get approval on all company bills. To ensure all vendors and employees are paid accurately and on time. To keep all legal financial rudiments in for the company and easily demonstrate the company’s financial reports at any given time.

VIEWPOINT (The viewpoint that an employee should have, to be successful at

the job):

We are operating with high quantities of money, and it is important that every penny that is received is correctly accounted for and recorded. There can be no errors in its accounting, and it needs to be as perfectly recorded as a bank. In the same way that you would want your money perfectly accounted for and tracked, we want the execs and owners of the company to have complete peace of mind that the money is in safe hands, that every bill that is paid is valid, and every report they see it completely accurate and up to date. The company’s financial survival is the most important point for its continued existence. If this is affected then every family, employee and customer that depends on Equity & Help Inc for housing and income

will have their livelihoods affected if you are not there to handle Div. 3A standardly and efficiently. As a result, any balance or reconciliation that does not check out or any report of unaccounted for money that we receive is of extreme and immediate importance to handle and get cleared up above any other duty.

COMPUTER SKILLS REQUIRED: Knowledge of QuickBooks, Microsoft Office and general PC computer knowledge. Able to create and correct formulas in Microsoft Office, especially Excel documents. Can create and operate Google Docs as well as

having experience with Google Drive or One Drive. Knowledge or quick duplication of bank portals, wires, transfers, etc.

SKILLS REQUIRED: Good math and accounting skills, accurate and up-to-date administration. Can keep track of dates and can complete tasks before their due date. Good duplications and detail oriented specifically regarding numbers and correctly inputting them into software or excel documents. Is particular about completing cycles of action. Good knowledge of finances, ledgers, checks, reconciling accounts, W9s, Profit & Loss reports and Balance Sheets.

RESPONSIBILITIES OF THE POSITION:

 Handle all incoming money to E&H as well as ensuring it is logged appropriately in QuickBooks.

 Reconcile all bank accounts.

 Ensure no account goes negative and that the necessary amount of money is in each account to cover outstanding checks, etc.

 Ensure all accounts have enough to cover the bank fees and replenish the money once the bank takes out the fees. Make sure to have the bank remove any incorrect fees.

 Handle all office supply requests and ensure that employees are using the Office Supply form. Then create POs for any needed office supplies and write EPOS weekly to make sure you have enough to cover anything under $50. I would recommend keeping a stock of often used supplies even if not requested by another yet so that when they are needed you can hand them out and then order more to replenish your stock.

 Keep track of company’s physical in house assets including office furniture, desks, computers, etc.

 Receive and handle any incoming mail to Div. 3A and either handle the situation yourself if it falls under your scope of knowledge or turn it over to the appropriate terminal.

 Handle all financial points, forms, requirements, etc. related to taxes including enrolling new employees W4, providing W2s and 1099.

 Handle finance are requirements for our employee Humana & Allstate.

 Do collections for anyone who is not an investor who owes money to Equity & Help Inc.

 Handle any refunds for Equity & Help Inc.

 Verify all bills received as accurate and approved expenses.

 Keep an updated bills dateline.

 Create POs for any automatic bills.

 Report any unapproved expense or financial irregularity to HR, CEO and CFO.

 Provide financial reports to execs, accountants, government agencies, etc. as approved by the CEO. Ensure financial reports are accurate and properly categorized. This includes frequent review of the P&L and Balance Sheets to ensure all items are logged and in the correct account and subaccount.

 Handle all E&H related disbursements and payments to management.

 Onboard new employees to payroll system and ensure you have all necessary documents.

 Process payroll weekly, get it approved by CEO & CFO before submitting.

 Pay Ambassador commissions quickly and accurately.

 Do all Div. 3A filing and ensure no backlogs are created.

 Get W9s for all vendors who are paid $600+ in a given year.

DAILY ACTIONS:

1) Check hangouts and handled as needed.

2) Check emails and answer.

3) Get all R/F in Div. 3A and complete them.

4) Update the bank accounts in QuickBooks and categorize as needed

5) Verify pending bills and POs as valid and approved

6) Pay any verified and approved bills and POs

7) Log all transactions in QuickBooks

8) Receive checks or Money Orders for E&H, log the payment in QuickBooks and

get them deposited in the bank.

WEEKLY ACTIONS

1) Update the weekly bills summary with any auto bills for that

corresponding week.

2) Monday after FP is completed, pay approved and verified bills.

3) Tuesday, reconcile the accounts but don’t finalize it.

4) Wednesday do payroll and get CEO/CFO approval on SurePay link.

5) Wednesday afternoon, go to the A/C weekly meeting and make sure you

are lined up so that your stats are up.

6) Thursday, reconcile the accounts but don’t finalize it.

7) Friday morning finalize the weekly reconciliations for all accounts. Do not reconcile anything that is in transit, leave those for the next weekly reconciliation.

8) Friday, ensure all your stats are logged by 2pm and reported uplines.

9) Friday morning send any POs for Div. 3A to FP.

10) Send checks and wires for EMDs and closings of homes being purchased

that week.

11) Review P&L and BS in QuickBooks and correct any discrepancies.

MONTHLY ACTIONS

1) Print and send invoices to collect money owed to E&H Inc.

2) Make a new updated Bills Dateline for the month

3) Review disbursement accounts and see which checks have not cleared. Notify the appropriate employee to reach out to their vendors to get the checks deposited and fully paid.

4) On the first day of the month submit the previous month’s P&L and BS to

CFO for monthly review and approval. Handle any corrections as needed.

YEARLY ACTIONS:

1) Using SurePay create W2s for all E&H employees and issue it to them and

to the IRS by the 31st of Jan each year.

2) Create and send W9s to all 1099 vendors used throughout the previous

year and send to the IRS by the 31 st of Jan each year.

STATISTICS:

Audit Points % : calculate the following points and divide by the total to get

the audit points percentage. Condition is based on a range of percentage.

AFFLUENCE = 90%+

NORMAL = 80 - 89.99%

EMERGENCY = 70 - 79.99%

DANGER= Below 70

1) Payroll done right and on time

2) All FP distributions are correctly logged in their corresponding QBs S/A and are moved to the appropriate bank account = 1pt.

3) Up to date statements go out monthly to all persons who owe money to the company =1pt.

4) Bills dateline is up to date with all bills owed verified, filed in a folder, and with POs created to pay them with correct due dates. = 1pt (no queried bills must be pending) 

5) Bills paid by dateline and current = 1pt. for dateline at 0 or better.

6) Payroll is done accurately and on time = 1pt (-1pt for any payroll that is not submitted by the Wednesday cut off time) 

7) Ambassador commission are paid quickly (in the same week as the sale) and accurately = 1 pt (-1pt if not); By week is meant Mon - Fri, so if sold Thursday then has to be paid by Friday.

8) All company accounts are reconciled weekly = 1pt. for 1762 & 1788 and half a point for all the rest. reversely, if any of the accounts are not reconciled by FRIDAY 2 pm the corresponding points taken as a negative. 

9) Balance Sheet & P/L are accurate and current weekly = 1 pt. for each

10) Routine org supplies inventory are available = 1 pt.

11) Company material is in good repair = 1pt. for all material being in working order (negative point if any company material is broken or inoperable and not replaced or fixed by week ending) 

12) Company material sign out log is up to date = 1 pt.

13) There is no pending Div 3A R/Fs waiting in treasury = 1 pt

14) Company records are safely packaged, easily available, and easily auditable (both physical and digital). = 1 pt. 

15) All filing is correct and completed weekly = 1 pt. (There is a negative 1 pt. for any backlogged filing)

16) Cash is greater than bills = 1pt. for every $50,000 that is greater than bills.

17) W-9 on file for all vendors paid $600+ = 1pt.

VALUABLE FINAL PRODUCT:

ALL EQUITY & HELP INC. FUNDS ARE PROPERLY BANKED, RECORDED AND ADMINISTERED. FINANCIAL LEGAL RUDIMENTS ARE FULLY IN AND FINANCIAL REPORTS ARE ACCURATE AND CURRENT.

Fast Start Hat written by:

Angelica Gomez

Establishment Officer E&H Inc.

VP E&H Finance Fast Start Hat - Glossary of terms:

 Reconciliation: In accounting, reconciliation is the process of ensuring that two sets of records (usually the balances of two accounts) are in agreement. Reconciliation is used to ensure that the money leaving an account matches the actual money spent.

 Statements: A document setting out items of debit and credit between a bank or other organization and a customer.

 Disbursements: the act of paying out money, especially from an amount that has been collected for a particular purpose.

 Bills Dateline: Paying all the bills behind a certain data and none closer to present time than that date. This is usually reported by noting how many days past due the oldest bill is (i.e. “The dateline is at 30 days” this would mean the oldest bill we have was due 30 days prior to the current date).

 Assets: property owned by a person or company, regarded as having value and available to meet debts or commitments.

 Balance Sheets: a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.

 Audit: Financial auditing is the process of examining an organization's (or individual's) financial records to determine if they are accurate and in accordance with any applicable rules (including accepted accounting standards), regulations, and laws.

 1099 Tax form: When a business pays an independent contractor $600 or more over the course of a tax year, it is required to report these payments to the IRS on an information return called form 1099-MISC. Businesses use the name, address and Social Security or tax identification number from form W-9 to complete form 1099-MISC.

 IRS Form W-9: is most commonly used by individuals when they are working as a freelancer or independent contractor. If you ever find yourself filling out a Form W-9, it generally means that a business or person who is paying you money needs your Social Security number, so it can notify the IRS of the amount. This form is used by our field vendors.