Skip to main content Skip to search
Manufacturing

Being a manufacturer brings some specific requirements, notably the need to use the accrual method in most cases, and the need to find a system to value inventory. We understand the business challenges which are extremely complex and support by providing accounting as well as business advisory services to help you taking effective decisions. Simply, WE MANAGE MORE THAN ACCOUNTING.  

Our accounting firm support will provide you industry-specific and management specific reports which would assist you in the cash management, financing and strategic business advice you need to succeed.

Service options include

  • Daily Revenue Accounting
  • Accounts Payable
  • Payroll Support with Direct and Indirect Labor Reporting
  • Bank Reconciliation & Cash Flow analysis
  • Inventory tracking
  • Financials Reporting
  • Statistical Reporting
  • 1099
  • Sales Tax
  • Accounting Software
  • Year-end Tax, Audit,& Review Support

Detail Content

Daily Revenue Accounting

  • We manage Daily Revenue recording based on the Daily Sales reports from Point of Sales machines. The bifurcation of Wholesale, Retail and Manufactured product is done based on the management requirements. Other way, if the manufactured product is sold by raising AR invoices, we can also manage the accounting along with the process of generating invoice copies in pdf and emailing/ mailing to the customers along with monthly statements to Wholesale/ Retail customers.

Accounts Payable

  • The Accounts Payable process includes Daily invoice processing, Monthly vendor statement reconciliation, Review of Vendor ageing reports, Payment processing and mailing out the checks to the Vendors.

Payroll Support with Direct and Indirect Labor Reporting

  • We manage timesheet processing as well as recording of payroll entries based on payroll service providers report. We also understand importance of reporting Direct and Indirect labor cost and segregate costs accordingly.

Bank Reconciliation & Cash Flow analysis

  • Beyond the daily bank verifications, we perform a full reconciliation of the cash activity for your business. We can provide cash projections so you know at any given time what to expect for cash flow and based on that take decision of various important payments.

Inventory Tracking

  • Because a manufacturer carries an inventory, it will normally be required to use the accrual basis rather than cash method when preparing accounts for tax purposes. It is always good to have proper tracking of the inventory items. Not just for tax purpose but to understand the business visibility. If Inventory is not accounted correctly, it will hit Gross Profit margins and will not allow management to take right decisions. Our accounting team will suggest the best methods to track inventory and help you providing accurate financials.

Financials Reporting

  • Preparing & submitting monthly financials reports like Profit & Loss report- By JOB & Consolidated, Balance Sheet, Cash flow Report, AP and AR aging reports etc.

Statistical Reporting

  • Want to track any Statistical data in your reports? PABS reporting can include such statistics.

1099

  • Track and store W-9s
  • Year-end 1099 and 1096 processing

Sales Tax

  • It includes Monthly sales tax processing and filings.

Accounting Software

  • We use various accounting software’s like QuickBooks, Sage-Intacct, Abila, QuickBooks Online, Xero etc. You can pick one out of those based on your requirements. If you would like to see live data in a dashboard, PABS can provide cloud-based solutions for accounting and file storage.

Year-end Tax, Audit,& Review Support

  • PABS provides a complete year-end package to your CPA reducing the effort they put in to that process and reducing your cost at the same time.
  • For those clients that have significant bank loans, PABS can provide full audit and review support services that meet your CPA requirements.
  • Going through an audit? Our complete and accurate record keeping has saved our clients from a lot of trouble with their IRS audit.