Improve Your Accounting System
An accounting system is one of the most critical parts of your management information system.
Sadly, it’s usually an afterthought of forming a business.
Most systems are inadequate and unable to provide management with prompt management data.
Some systems are not upgraded to catch up with business growth.
A fine-tuned system improves efficiency.
It provides timely critical data to successfully run your business.
A fine-tuned system improves efficiency.
We can design a new accounting system to help you run your operations more efficiently.
Fine-Tune Your Chart Of Accounts
Your chart of account is the heart and soul of your accounting system.
If the chart is messy, all journals, ledgers, and tax returns will also be messy.
On the other hand, a well-designed chart allows you to properly classify accounts and save time and fees to prepare your books of account and tax returns.
We review, revise, and fine-tune charts of all new clients.
We tailor your chart for your specific business in your specific industry and entity.
This is the first step in cleaning and improving your accounting system.
Design Excel Journals For Your Firm
Simplify recording of sales, collections, and disbursements with excel worksheets.
We design Excel worksheets for your operations.
We can even train your staff to use the worksheets.
For example, we can create check registers that automatically distribute auto, office supplies and other expenses to their correct columns that are automatically totaled at the end of the month.
Submit these distributed and totaled worksheets to your accountant and save professional fees.
Set Up QuickBooks For Your Operations
QuickBooks is popular because it was first marketed as a cheap accounting program.
Since then, it has been sold to large corporations who jacked up the price that has reached several hundred dollars.
It is not a reliable program, but is out there because many bookkeepers know how to use it.
We can set it up for you to make it more stable and reliable program.
We can also train your staff on the basic use of QuickBooks.
Prepare Journals & General Ledgers
Businesses are required to keep a set of records of revenues, expenses, assets, and liabilities.
The set of records indicate what you earn, spend, own, and owe.
Sales and collection journals record your sales and deposits.
Disbursements journals record your expenses and other disbursements.
Your general ledger is a record of your assets, liabilities, revenues and expenses.
In an IRS audit, you are required to show books of account - journals and ledgers.
Messy journals and ledgers are a major reason for losing IRS audits.
We can clean up your records and help you prepare better journals and ledgers.
Compile Financial Statements
• We prepare compiled financial statement for interim or year-end.
• Statement of Assets, Liabilities, and Equity - Income Tax Basis.
• Statement of Revenues, Expenses, and retained Earnings - Income Tax basis.
Our clientele includes companies in real estate, health, law, trading, manufacturing, and other industries. We have clients all over the U.S. including California, Nevada, Arizona, Hawaii, & other states. Our clientele includes businesses in the following industries
Professionals
Doctors, lawyers, accountants, architects, engineers, tax preparers, information technology, and other disciplines. We analyze the need for incorporating your practice. We help you avoid PSC flat rates of 35%, IRS audits, and worker reclassification problems.
Real Estate
Brokers, agents, investors, landlords. We know real estate well. We have been helping members of the Apartment Association of Los Angeles for about 30 years. Ask us about capital gains on sale of residence, apartments, raw land, and other investments. Ask us about 1031 tax deferred exchanges. Come to us when you have issues with foreclosures, debt relief, short sales, and voluntary conveyances. Thinking of investing in TICs? Let’s discuss first.
Health
Physicians, dentists, chiropractors, veterinarians, optometrists, medical labs, homes for elderly, home health and home care agencies, nursing care facilities, child and youth services, child day care facilities, hospice, durable medical equipment, and other operations.
Wholesale/Retail
Apparel, Jewelry, printing, produce, durable medical equipment, etc.
Manufacturing
Textile, Women's, Girls', and Infants' Cut and Sew Apparel Contractors, Corrugated Box, machine shops, etc.
Other Industries
Janitorial services, landscaping services, employment agencies, short and long haul, etc.