Skip to main content
6. Onboarding Complete!

Your onboarding with Collective is complete!

Updated over a week ago

All Done!

Your onboarding with Collective is now complete!

The following sections walk you through what to expect from Collective.

Your Dedicated Team

Your dedicated team can be found at [email protected].

  • Your primary contact with Collective is through our e-mail system.

  • Any time you have a question, please e-mail us, and one of our experts dedicated to your account will reach out.

  • There are no scheduled calls, but you can always request one through the e-mail

Thank you for choosing Collective. We are excited to help with your finances so you can pursue your passion.

Monthly Payroll

Remember that you will need to run payroll each month (auto-run might be turned on for you). Here is information on updating your salary. Remember that occasionally Collective will perform a "reasonable compensation" review and may recommend adjusting your salary. The general guidance is that if your income increases/decreases year to year, your salary may need to be adjusted accordingly.

Monthly Collective Bookkeeping Services

At the beginning of each month, your bookkeeping team will reach out and ask for the following:

  • Previous month's statements for checking, savings and/or credit card accounts

  • Your accountable plan Reimbursement for the previous month. Video instructions

  • Any business transactions that need to be manually added to your accounting software

  • Your initial bookkeeping was done during onboarding. Financial reports reflecting what we went over will be published to your dashboard in a few days.

Please submit these items as quickly as possible. Once received, they will categorize and reconcile your account and put your reports in your Collective dashboard

  • Your bookkeeping team will do the prior month's categorization and reconciliation after receiving the requested documents. They will not be going into your books outside of that or before receiving the documents.

  • Once your completed financial reports are uploaded to your dashboard, please reach out if you have any questions or concerns.

  • Please review your financial reports provided by the bookkeeping team each month. I would encourage bookmarking this article with helpful tips on reading and interpreting your financial statements.

Quarterly Tax Estimates

Collective will automatically provide this service for you every quarter, starting a few months after your onboarding is complete. Until the automated process begins, please follow the instructions here.

Annual Tax Returns

Collective files an 1120S Business Tax Return for your S Corp every year. Depending on your subscription, we may also file your 1040 Personal Tax Return. Learn more about our annual Tax Return Process here.

Disclaimer: The information contained in this document is provided for informational purposes only and should not be construed as financial or tax advice. It is not intended to be a substitute for obtaining accounting or other financial advice from an appropriate financial adviser or for the purpose of avoiding U.S. Federal, state or local tax payments and penalties.

Did this answer your question?