FINANCIAL NEWS – WHAT IS THE SLOGAN FOR BEING AN ACCOUNTANT? BE AUDIT YOU CAN BE.

The headline is appropriate as we head into our annual busy season. At the beginning of every year, the Accounting team is tasked with issuing W-2s to employees, 1099s to vendors, and closing the books for the year. After this is complete, the team then goes through an external audit that helps ensure internal controls and proper financial reporting. Additionally, this year the Accounting Department has been working to respond to the impact of selling 75 stores.

For this newsletter, the Accounting team came up with a list of friendly reminders:

We really appreciate the operations team and cannot say thank you enough for all that you do!
W-2 season has come to an end, but we are asking ALL employees to continue to set up their Greenshades account and especially confirm their address and avoid W-2s being mailed to the wrong place next year. There is also an option to only receive an electronic W-2 which will be available much earlier than the paper version. If an address needs to be updated, this must be done via the Greenshades portal: bbus.greenemployee.com.
Hourly employees need to clock in / out in order to be paid properly. This usually happens when “mismatched punches” are unilaterally deleted instead of researching them first. If all else fails, submit a fully completed Issues Worksheet, including an explanation in the notes area on the form, and include the corresponding ESR in a timely manner for us to include the “Unclocked” time in the next / currently open Payroll.
Store managers, if you need to deposit funds at branch instead of the safe, please let the cash team (Abram) know.
When doing inventory, please check the unit description and dollar amount per item for reasonableness. Also, if managers would go ahead and let accounting (Jacob and Tim) know if they receive a truck in the next period when the invoice date is in the previous period.
Please approve open IQBO and Corrigo invoices so we can ensure these are paid timely.

2021 welcomed two new team members, Jacob Bilberry and Karen Kellam. Jacob will be helping work on fixed assets, labor accruals, and special projects. He grew up in the Norfolk area and enjoys watching football and spending time with his family. Karen grew up on the Eastern Shore and spends her time with her three fur babies. She will be working with our Accounts Payable team.