Accounting Solutions that Work.

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1 Accounting Solutions that Work. Your accounting department is the core of your business. It s how you measure your success, it affects your relationship with your vendors, customers, and employees, and it s how you maintain your income and build your wealth whilst working towards accomplishing your dreams. Your accounting infrastructure also interfaces with all other departments marketing & sales, operations, and HR and those departments depend on the relevance and reliability of your accounting team to operate effectively. If they skip a beat, the affects can be felt throughout your organization. Assess Design Implement Manage Though your accounting systems depend on the right software, appropriate supporting technologies, and clear protocols for operation, it ultimately comes down to the people that engage with the system where the success of your business is only as strong as the people you ve hired. Those individuals are guided by the policies, procedures and leadership that management provides for this department and in today s business environment, that team needs to remain flexible to the growing demands of your business. Like any well run machine, your accounting department needs expert attention to help run its best. This is where we come in! Our company, SUM Innovation, was designed to provide the guidance and oversight your accounting department needs to run smoothly, whilst remaining dynamic to the ups and downs of running a business. At SUM Innovation, we assess, design, implement and manage accounting solutions for startups, international businesses, established and growing business, and nonprofits across the U.S. As an accounting management and consulting firm, we focus on delivering outcomes aligned with the diverse needs of our client s short and long- term objectives.

2 Who Are You? I m a Startup. Great, we have plenty of experience guiding startups through those critical first steps you face in building a strong accounting system. SUM Innovation will consult on the steps you need to consider as you launch your new business. Our team can help you create budgets and forecasts for your business plan, and advise you on choosing the right accounting technology and POS system. We ll help you navigate the complexities of Sales Tax, and educate you on working with the right vendors. Our team provides you with accounting solutions that work for you, rather than against, so you can concentrate on growing your new venture. I m an International Business: Looking to expand into the U.S. market, or grow your current U.S.- based operations? Our team at SUM Innovation specializes in multi- entity International accounting operations. We currently work with clients in more than 10 countries in 6 continents. We can work with your international accounting department, CFO or COO, or act as your entire outsourced accounting department. Our passion and objective is to ensure that all expectations of your parent company are being met - - whilst working to meet the requirements of opening and maintaining a business in the U.S. I m an Established & Growing Business: Are you looking for ways to save money, create greater efficiency throughout your organization, or perhaps develop stronger reports to guide your team in their day- to- day decision making? Let SUM Innovation conduct a complete assessment of your current accounting operations and discover opportunities to help improve your bottom line. Whether we work in partnership with your business CFO or act as a third- party resource for the CEO, we work diligently to provide accounting solutions that have an impact on the growth and sustainability of your organization. I m a Nonprofit: For more than 30 years, SUM Innovation and its team members have worked with nonprofit organizations helping them to create stronger financial policies & procedures, provide more valuable reports to their board members, and guiding them through their compliance requirements. We understand the importance of accurate & transparent accounting practices when it comes to managing your programs, continuing your fundraising efforts and sustaining your operations. It s not easy being a nonprofit in this economy, but we are proud to support your efforts as you work to make the world a better place. Using our rigorous assessment method and leveraging our experience serving over 500 clients in 35 industries, the SUM Innovation team begins every engagement with a comprehensive review of your current accounting operations.

3 ASSESS During this process, we analyze your business procedures, technology, and use of human capital to develop a thorough understanding of current practices. Upon completion of the assessment, and in conjunction with the needs of management, we present our findings and discuss tactics to bridge the gaps. The assessment concludes with a Statement of Opportunity where we suggest ways to save you money, improve your bottom line, and get you to the next stage of your business growth and development. Features o Complete review of current accounting system, including software, procedures, and the integrity of your financial reports. o Stakeholder & management needs analysis. o Interview of key staff members involved in your accounting system. o Interview with your outside accounting professional or tax advisors. o Review of staff s day- to- day accounting activity. o Surveys of employees, customers, and vendors as needed. o Comprehensive management report outlining critical issues and next steps. o Presentation of report to stakeholders, including the Statement of Opportunity. Benefits o Improve the efficiency & effectiveness of your accounting system. o Align your accounting practices with your day- to- day needs. o Identify weaknesses in your accounting practices. o Review the performance of your accounting staff. o Mitigate risk and create more accountability for management. o Correct administrative mishaps. o Open up organizational bottlenecks. o Minimize opportunity for fraud. o Provide a corrective road- map to your management team. o Identify opportunities to improve other areas of your business, including customer and vendor relations. o Identify opportunities for you to save time, money and grow your business. Once we ve completed the assessment, you have several options.

4 DESIGN Expanding on the Statement of Opportunity, we can design an alternative to your entire accounting infrastructure. In this stage, we present a roadmap towards improved effectiveness and efficiency, including new procedures and technology, as well as a reallocation of your human capital. Our recommendations are based on an objective, pragmatic appraisal of your needs. The right solution for you might be to hire a controller or CFO, expand or retrain your in- house accounting staff, outsource parts of your accounting functions, or a combination thereof, in addition to reviewing all accounting related vendors such as outsourced Payroll, HR firms and technology providers. Though each business is unique, you can expect such outcomes as: New policies & procedures handbook for your accounting department. Revised job descriptions for key staff members. Revised organizational chart. Staff training & development plan. Step- by- step roadmap on how to implement this new system. Strategy for integrating cost & time saving technology. Vendor guidance & resourcing on outsource and staffing solutions. Cost savings & benefit analysis of new system to ensure return on investment. IMPLEMENT You can also choose to work with our team on the implementation of either the assessment or design by leveraging our outsourced accounting department including controller and bookkeeping services as well as our training and staffing divisions. Controller Services include: Standard Reports & Statements Custom Financial Reports and Statements Setup of Inventory & POS Systems Process Sales Tax Inventory Adjustment Budgeting Software Installation & Setup Payroll Provider Selection Setup & Modify Employee Info Payroll Management Issue W- 2, 1099, W- 3 & 1096 forms Issue 940,941 & NYS 45 forms Coordinating with CPA on tax filings Audit Preparations Adjusting Journal Entries Accounts Receivables Management Fiscal Year Catch- up & Clean- up Backup & Security Procedures Oversight Individual Group Seminars Training Staf?ing Bookkeeper Controller Placement Testing Consulting Outsourced Accounting

5 Bookkeeping Services include: Check Writing Credit Card Charges Debit Card Transactions Manual checks ACH Transactions Multi- Currency Transactions Petty Cash Reconciliations Bank Reconciliations Credit Card Reconciliations Marketable Securities Reconciliations Setup Vendors Setup Independent Contractors Enter Bills and Pay Bills Setup Customers Setup Estimates, sales Orders & Invoicing Enter Purchases Orders and Sales Orders Create Estimates Issue Invoices A/R Collections Enter Sales Receipts and Receive Payments Issue Credit Memos/Refunds Payroll Entries Payroll Processing Staffing Services include: Recruitment Testing Pre- Screening Interviewing Job Postings Job Descriptions Training Services include individualized training modules on all functions related to the accounting process, including software and best practices training. Group training is designed for companies with multiple employees in a single department working together, or for departments where employees need to be cross- trained. Past training has included seminars in: Fundamentals of Bookkeeping & Day to Day Accounting Procedures Computerized Accounting, including Advanced QuickBooks Special Topics, such as Sales Tax & Inventory Management MANAGE Or, you can work with our leadership team to manage your accounting operations on an on- going basis, as your outsourced CFO. CFO Services include: On- going financial operations consulting Back- office management and oversight

6 Maintenance of financial administration policies and procedures Establish & monitor financial performance metrics Software selection, transition & technology integration Review & maintenance of backup & security protocols Coordination with CPA for tax filing and planning Customized financial reporting & analysis Creation & maintenance of management dashboard Comprehensive budgeting & forecasting Cash flow management Working with your bank to establish lines of credit & loans Develop and track your Exit Strategy Reporting to business bankers, investors, boards, shareholders Non- profit donor and grant management Non- profit: financial presentations for board meeting To Sum It Up: Whether you choose to utilize our expertise solely for an assessment, or prefer a combination of the suite of services we offer, we are certain that our team can be your final resource for all things accounting! SUM Innovation s comprehensive, holistic approach isn t right for everyone. We spend time getting to know our clients and view each assignment as a unique opportunity. And, our team values strategies that meet the needs of your business bigger picture. Our clients understand the importance of accounting as it relates to the success of their business. SUM Innovation s unique approach provides our clients with the solutions they need, designed exclusively for their business. Visit Us Online at or Call Today: Accounting Solutions that Work.

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