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
- 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
- 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
- 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