Are you a start-up looking for a bold beginning? An existing company in need of streamlining and updating? Or poised to take an exciting leap of growth?

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Baumann-Partners can help!

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Looking for a bold beginning?

In need of streamlining and updating?

Poised to take an exciting leap of growth?

 We're here to help!

Baumann-Partners can organize, simplify & optimize your business success.

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We offer the following support:

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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. 

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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

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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

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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

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Specialized Support

• Prepare Business Plan with Pro Forma Financial Projections

• 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 Reconciliations

• 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