A/R - Accounts Receivable

  • Prepare Customer Invoices - Reconcile with Sales Orders
  • Process Payments for Deposit 
  • Process Credit Card Transactions
  • Reconcile Customers' Account Balance
  • Track Commissions and Bonuses

Depending on your current A/R process, there are potential changes to simplify the A/R process.

A/P - Accounts Payable

  • Match Vendors' (Suppliers') Purchase Orders with Invoices (Bills)
  • Prepare Payments 
  • Reconcile Vendor Balances with Accounting Software A/P
  • Record and Reconcile Petty Cash
  • Reconcile Travel and Other Personnel Reimbursable Expenses

Depending on your current A/P process, there are potential changes to simplify the A/P process.

Bank and Balance Sheet Accounts

  • Reconcile Bank and Credit Card Accounts
  • Reconcile Balance Sheet Accounts: We recommend reconciling owner-draw accounts and loan accounts that have monthly transactions, and inventory accounts at least quarterly; it's good to have cycle-counts for your inventory too. We follow your company's external auditor's recommendations. 
  • Resolve potential problems. We communicate potential problems with owners/management. 

Month or Quarterly and Year-end Closes

  • Balance Sheet Account Reconciliations
  • Review and Prepare Journal Entries for Prepaid Expenses & Accruals
  • Ensure Work Papers/Supporting Documents are available for your CPA
  • Monitor and/or Participate in Quarter or Year-end Inventory
  • Review and Adjust Fixed Asset Schedules for Purchases and Depreciation

Cost Accounting and Inventory

  • Prepare and Update Bill of Materials (BOM's):  We have experience working with Engineers and Manufacturing Personnel to identify and analyze Standard Costs. 
  • Implement Cycle Inventory Cycle Counts
  • Reconcile Finished Goods Inventory
  • Identify Obsolete Inventory and Adjust Inventory Account

Payroll

  • Prepare and Process Payroll
  • Prepare and Submit Monthly/Quarterly/Annual Federal & WA State Payroll Tax Returns
  • Prepare Year-end 1099's

Depending on the number of employees, outsourcing payroll can be cost effective.

Washington State Tax Filings

  • Prepare and Submit Monthly, Quarterly, and Annual Tax Documents

Financial Statements

  • Prepare Weekly, Monthly, and Year-End Financial Statements based on Owners/Managers Preferences
  • Prepare Cash-Flow Statements
  • Specific Detail Reports when requested by Owners/Managers

Specialized Support

  • Collections: Our experience is the collection process begins when the Customer Invoice is sent: We have been very successful with our approach to collections. However, we will always follow the Owner's/Management's protocol. 
  • Reconcile and Tag Fixed Assets
  • Work with Owners/Managers through the Budget Process
  • Create Chart of Accounts to Comply with US GAAP/IFRS
  • Audit Preparation and Liaison with External Auditors
  • International Accounting and Transfer Pricing
  • Intercompany Reconcilations
  • Prepare Federal Financial Reports for NIH Grants
  • Upgrade Accounting Software or Implement a New Accounting Software Program
  • Prepare Excel Templates to simplify the monthly Account Reconciliation Process
  • Document Internal Controls to be SOX compliant
  • Prepare Business Plan with Pro Forma Financial Projections