CP Financial Services, LLC

CP Federal Credit Union is continuously hard at work creating new products and services that we feel will be very beneficial to our business members.  We are extremely excited to introduce our Business Accounting Service.  This complete bookkeeping service is provided by CP Financial Services, the Credit Union Service Organization of CPFCU, in accordance with GAAP.

The accounting services that are now being offered to our business members include:

Maintaining Account Payable

• The entering and issuing of payment of monthly bills
• Allocating payments to the proper accounts

Full Payroll Service

• Full set-up of payroll system
• Weekly or Bi-weekly payroll processing
• Payment of all Liabilities

Maintaining Accounts Receivable

• Producing invoices for services performed
• Posting all payments on invoices

Bank Reconciliation

• Monthly reconciliation of all bank accounts and any certificates
• Detailed reports included

Inventory Management

• Record all purchases and sales of merchandise
• Monitor cost of goods and cost of sales

Monthly and Quarterly Tax Payments

• City, State, and Federal
• Electronic Federal Tax Payment Service (EFTPS) available for Federal tax payment

Monthly Financial Statements

• Produce monthly Balance Sheet, Income Statements, and Quarterly Cashflow Statements

Financial Statement Analysis

• Review all monthly Financial Statements
• Report any out of balance situations
• Make recommendations for resolution