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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. PABS understands the business challenges which are extremely complex and support this by providing Accounting as well as Business Advisory Services to help you make effective decisions. Simply, we Manage More Than Accounting!

PABS Accounting Firm support will provide you Industry Specific and Management Specific Reports which will assist you in the Cash Management, Financing and Strategic Business Advise you need to succeed.

Service options include

  • Daily Revenue Accounting
  • Accounts Payable
  • Payroll Support with Direct & 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

  • PABS manages 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. The other way is based on the Manufactured Product that’s sold by raising AR Invoices which PABS can also manage the Accounting along with the Process of Generating Invoices 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

  • PABS manages Timesheet Processing as well as Recording of Payroll Entries based on Payroll Services Providers Report. We also understand the importance of Reporting Direct and Indirect Labor Cost and Segregate Costs accordingly.

Bank Reconciliation & Cash Flow analysis

  • PABS goes beyond the Daily Bank Verifications, and performs a Full Reconciliation of the Cash Activity for your business. PABS can provide Cash Projections so you know at any given time what to expect for Cash Flow and based on that make a decision of the various important payments.

Inventory Tracking

  • PABS understands that a Manufacturer carries an Inventory which normally requires using 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 purposes, but to understand the business visibility. If Inventory is not accounted correctly, it will hit Gross Profit margins and will not allow Management to make the right decisions. PABS Accounting Team will suggest the best methods to Track Inventory and help you provide accurate financials.

Financials Reporting

  • PABS can prepare & submit Monthly Financial Reports like Profit & Loss (P&L) Reports by JOB & Consolidated, Balance Sheet, Cash Flow Report, AP and AR Ageing Reports, etc.

Statistical Reporting

  • Do you want any Statistical Data tracked in your Reports? PABS reporting can include such Statistics.

1099

  • PABS can Track & Store W-9s.
  • PABS can provide Year-End 1099 and 1096 Processing.

Sales Tax

  • PABS can include Monthly Sales Tax Processing & Filings.

Accounting Software

  • PABS uses various Accounting Software like Quickbooks, Sage-Intacct, Abila, QuickBooks Online, Xero, etc. You can pick one of the Accounting Software Programs based on your business 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

  • ABS provides a complete Year-End Package to your CPA reducing the effort they put into the 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? PABS complete and accurate Record Keeping has saved clients from a lot of trouble with their IRS audits.