Bookkeeping Services Glendale CA
Helping our clients with accurate and timely financial information ensures business operations will run more efficiently. We can provide you with periodic accounting services in Glendale & Los Angeles, CA area which will best serve your company\'s needs. The following services are available for businesses:
Monthly or Quarterly Accounting for your Business
It's essential to keep accurate and timely data of all the transactions in your business for a few reasons. Probably the most important reason is to see the financial health of your business and track the progress of your business for a period of time. Once we complete your monthly or quarterly bookkeping we can provide you financial statements to help you see this clearly. The balance sheet will give you a financial snapshot of the assets, liabilities, and equity in your business while the profit & loss will show all the income and expenses of your business. On the most basic level, every business will want these statements to monitor their finances!
Another reason you should have professional bookkeeping is the amount of time and energy needed to go through all of your transactions for a given month. We commonly see small business owners try to manage their business and at the same time do their own accounting. What happens is the time spent on the accounting function takes up an enormous amount of time away from them doing what they\'re best at...which is growing their business! Our trained staff are highly efficient and can accurately complete your books in a fraction of the time. Your numbers will also be looked at multiple times when we review all transactions and should your business ever need to provide the IRS or state any documentation, you\'re already ready to go!
Financial Statements Preparation
The Balance Sheet and Income Statement are the 2 most important reports that every company depends on to see the overall financial strength and operations of a business. An optional report which may be useful for your company is the Cash Flow Statement which shows the affects certain activities have specifically on cash. These reports are also provided to banks, investors, and vendors for various loans and credit your company may need.
The Income Statement is used to
Track revenues and expenses by categories, which show how the business is operating for a period of time. Find unusual expenses or expenses which seem too high or low for certain businesses. Determine areas which the business can improve by cutting or raising costs. See percentage or amount of change from period to period to appropriately make operating changes.
The Balance Sheet is used to
Show all assets, liabilities, and shareholders\' equity of a company on a specific date. Analyze how assets were acquired or funded. Determine the overall health of a company to see if operations can continue without any concerns. See if your company receivables or payables have grown to large or small and how to counter these effects.
The Cash Flow Statement is used to
See how much cash came in and out of the business. Show the current operating results and changes in balance sheet accounts. Determine if a business has enough to pay all its expenses or repay debt. Determine if cash was used or made in operating, investing, and financing activities.