Small Business Accounting in Long Beach, CA
No matter what kind of company you have, whether a sole proprietorship or major corporation, your business requires accounting support.
Accounting functions help owners track and determine the financial health of their business. These aspects are not only important but vital to the longevity of an enterprise.
Life On Thrive, Inc is located in Long Beach, and serves businesses throughout our community to help keep their general ledger on track and accurate. What do these functions consist of, though, and how does a CPA improve them?
Accounting functions consist of many tasks, performed daily, weekly, monthly, quarterly, and annually. The timely execution and review of these processes are paramount to maintaining the financial health of your business.
Daily – Each day should begin by checking your cash position. This ensures you stay informed of your financial strength on a day-to-day basis. This knowledge will factor into your other operational duties.
Weekly – Your weekly routine should include recording transactions, documenting and filing receipts, reviewing and paying vendor bills, invoicing, and reviewing your projected cash flow.
Monthly – Every month we balance your books, review past-due receivables, take stock of current inventory, process/approve payroll and tax payments, and review your month-end balance sheet against the prior year’s.
Quarterly – Four times per year, you must analyze your profit/loss statement, review your quarterly payroll reports, prepare and send in your quarterly tax payment, as well as estimate and pay any owed income taxes.
Annually – Once every year, the time comes to prepare and file your W-2 and 1099 forms with the IRS, and review your full-year financial reports and tax returns.
The Value of a CPA Handling Your Accounting
At Life On Thrive, Inc, we understand that not all business owners have a talent for crunching numbers. Furthermore, having to perform these functions takes away valuable time from running your company.
By enlisting our firm to help with the accounting side of your business you are putting your financial needs in the hands of an experienced professional. Rest assured, we have the experience and expertise to manage your accounting concerns in a timely and accurate manner.
Another benefit of outsourcing your financial operations is the potential for us to identify new cost-saving methods. Our experience gives us the perspective to find inefficiencies in your processes and help you correct them before they become problematic.
We’re Here to Help Your Business Grow
Life On Thrive, Inc is well-versed in the many aspects of small business accounting. Having performed the task for many companies in Long Beach, Seal Beach, Lakewood, and Torrance, we have the experience necessary to take your business to the next level.
Our office is open seven days a week, and we make ourselves readily available for our busier clients. Contact us today to schedule a free consultation, and find out more about our accounting services.