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1. The Manager agrees to review, direct and supervise
the following accounting and bookkeeping services for the
Owner in the operation of the Center.
A. Receipt for and deposit in a special bank
account selected by the Owner, separate from all other
monies of the Manager, all funds received from the
operation of the Center and supervise the disbursement
of such funds for the operating expenses of the Center;
B. Maintain the books of account, including all
journals and ledgers, check register and payroll
records;
C. Post all patient and other charges, including
necessary analysis and corrections;
D. Establish adequate receivable, credit and
collection policies and procedures;
E. Process vendor's invoices and other accounts
payable;
F. Prepare payroll checks from time sheet
summaries prepared under the Manager's supervision;
G. Prepare payroll and supervise preparation of
the Owner's tax returns (fees paid to independent
accountants will be the responsibility of the Owner);
H. Prepare monthly bank reconciliations;
I. Prepare and distribute to the Owner monthly
profit and loss statements;
J. Establish patient insurance billing
procedures;
K. Furnish the Owner on or before the 30th day
following the end of each calendar quarter (i) an
accrual basis balance sheet of the Owner at the end of
the previous quarter and (ii) an accrual basis
statement of income for the quarter then ended of
"available cash" at the end of such quarter and (iii) a
list of all outstanding and unpaid obligations of the
Owner at the end of such quarter. * * *
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