Hello there! Great job on setting up your accounting and payroll through your Collective dashboard. Now that you’ve submitted your banking information and all necessary payroll accounts are in place, the next step is to meet with your Onboarding Accountant. They are currently reviewing everything to ensure all details are accurate. This review typically takes 3-4 business days.
Preparing for Your Zoom Call
While our team diligently works on your account review, there are a few things you can prepare to ensure your upcoming Zoom call is as productive as possible:
Essential Documents to Upload:
Business Account Bank Statements: Please upload your PDF bank statements from your S election date to the most recent statement. This includes all business accounts—checking, savings, credit cards, etc.
Previous Payroll Information: (only if you are already an S-corp)
Previous Years' Balance Sheet: (also only for members who are already S-corp)
What Happens Next?
Once your Onboarding Accountant has completed their review, you’ll receive an email with a prompt to schedule your training call. This call, which will take place over Zoom, is designed to last about 45 minutes. It’s a fantastic opportunity to ask questions, clarify any doubts, and make sure you’re fully comfortable with your new setup.
We’re here to support you every step of the way, so don’t hesitate to reach out if you need anything while you wait for your review to be completed. We’re excited to help you get started on this new journey with your business’s finances neatly organized and streamlined!
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.