Small Business Accounting Service
Although there are many corners that may need to be cut when forming or starting your own business, having proper accounting services is not one of them. A small business accounting service offers benefits that considerably outweigh the cost.
Admittedly, there are some excellent software programs that can help you keep track. But for businesses that are growing rapidly this is normally not enough. You can hire someone from within your company, but that takes additional training, time, and effort. Plus, if they ever leave you will have to do the process all over again.
Our Whittier, Los Angeles based firm offers accounting service that specializes in small businesses just like yours and can do all the bookkeeping, tax work right from the start. This means that you are hiring experts in the field who will not leave you for another job and need no training to set up the accounting for your business, industry specialized accounting help, non-profit, tax exempt organizations, health & wellness, medical doctors, dentists, pharmacies and medical equipment rentals, we also help professionals, such as lawyers, attorneys, insurance agents, real estate agents, mortgage brokers, we also help contractors, HVAC, plumbers, painters, electricians, and other construction businesses, we also help restaurant owners, franchises, franchisors and specialty stores. But that is not the only benefit that you will receive.
Get a free evaluation today at 562-204-6700.
What follows are five good reasons why your business can benefit from our professional tax service.Avoid Unnecessary Payments
While your bank statements offer some information, they cannot take the place of a professional accounting service. This means that you can make decisions which are not based on your current financial state. The result is overdraft fees or added interest payments that drive up expenses.
You can avoid that by hiring a professional accounting service that stops an overdraft from taking place and helps keep interest payments down. When you know what your current financial state is, you will not be writing checks on money you do not have. This means no overdraft fees or paying additional interest on any outstanding debt.Payroll
You may be the only employee now, but that will change as your business expands. When your business grows and starts hiring employees, having an accounting service can do wonders in keeping up with your payroll. This means that they will write the checks for you to sign, mail or hand them to the employees, or deliver the checks to your office so you can do the rest.
This service not only includes employees, but also freelancers who work on contract for you. For tax purposes, they will prepare a W-2 or Form 1099-MISC to ensure that you are covered in that area as well. Having an outside firm handle your payroll means one less headache and helps avoid misunderstandings.Track Income Sources
There is a considerable amount of accounting that needs to be performed when you are running a business. One aspect that often gets overlooked by new business owners is the number of ways that your company can earn money. From landing contracts to selling products and more, the sheer number of ways you can earn income can be overwhelming.
For many, they invest in software options that help, but are often difficult to use and fully understand. It does not take long for many business owners to either skip this option or miss important details due to the sheer amount of work involved in keeping track of income sources.
This is where our Whittier, Los Angeles based professional accounting service can help. By combining with you and the software such as Quickbooks, you can enter the information from your end or our accounting service can take it from there. That way, the service can do all the mundane work from creating bank statements to reports that are all forwarded. This means that you can stay on top of your income sources, various expense categories and work on your business growth at the same time.
We serve different industries, such as non-profit, tax exempt organizations, health & wellness, medical doctors, dentists, pharmacies and medical equipment rentals, we also help professionals, such as lawyers, attorneys, insurance agents, real estate agents, mortgage brokers, we also help contractors, HVAC, plumbers, painters, electricians, and other construction businesses, we also help restaurant owners, franchises, franchisors and specialty stores.Reading Financial Reports
Do you know the true financial state of your business? You may be surprised to learn that many business owners could not tell you their current financial state. If you are not engaged in a regular effort to examine your finances, then you cannot make the best-informed decisions about the future of your company. But keeping on top of your finances daily is probably not possible.
This is where having a small business accounting service can be crucial. You can receive reports on the state of your finances every week, two weeks, or once a month depending on your needs. Whichever form you choose, you can receive accurate financial reports that will let you see the state of your business.
In this manner, you can make the best-informed decisions about where your business needs to go. Imaging how many mistakes you can avoid by having accurate, timely information in front of you. By using the right accounting service, you can make the right decision time and time again.Pay All Bills on Time
You may be surprised with all the responsibilities of running your business that a bill does not get paid. Paying bills on time is not only smart it also helps keep your credit score up so you can qualify for more loans if needed. Plus, it avoids any unnecessary issues with suddenly discovering that a bill has not been paid.
As organized as you may be, having a professional small business accounting service will ensure that you pay all your bills on time. You can do so by arranging to have the service oversee your accounting, schedule the payments when they are due, and ensure that you make the proper payments to avoid issues associated with being late.
Another important advantage is that you get a second set of eyes on your finances. It cannot be overstated just how important it is to pick up on the little things. This is especially true of your finances where one small mistake can turn into a big problem. What one person can miss another can see. This not only applies to you, but to the accounting service that employs more than one professional to ensure the work is performed correctly.
Our professional small business accounting service keeps accurate records and double-checks your finances to ensure that everything is in order. That way, you can focus more attention on expanding your business, building up a customer base, and providing new products and services.
Get a free evaluation today at 562-204-6700.