Accounting Services

Accounting services for small business owners

Covina Tax Services and Tax PlanningWhen you opt for SmartCPA as your accounting partner, we immediately get down to work and become a part of your company or business. We have offices in Chino Hills and Anaheim, CA and we are not blind to the fact that owners of small and developing businesses have a lot to cope with. Maintaining the accounting books is one of the most time consuming tasks to business owners. Our team will help you manage this part of your business so that you can concentrate on running your business properly and making as much profit as possible. Choosing SmartCPA means that every member of our team becomes a part of your team. We give our total commitment and dedication to each and every client we serve. We treat all clients like they are the only ones we’ve got. We have a remarkable history and an excellent reputation for excellent delivery of accounting and tax services over the years.

Remember, our accounting services are specially tailored to suit your business needs. Hence, processes such as tax planning, tax preparation, and payroll processing can also be done for you. Some of the accounting functions we assist you with on a periodic basis include:Bank Reconciliation: It is imperative to keep all your business bank accounts up-to-date. We do this by reconciling figures both on the debt and credit legs on a monthly basis. By this, you will be able to
  • Spot unauthorized debits and transactions, lost and unused check numbers and loss deposits
  • Identify excess/undue bank charges and wrong postings into your account
  • Trace and prevent fraud and embezzlement of funds by your employees and workers
  • Access the performance of your business. This would be impossible without an accurate bank reconciliation as part of a well-prepared business financial statement
  • Monitor cash flow and cash management. This helps you cut cost and make more money
  • Protect your business from unauthorized transactions and fraudulent checks. If such checks are presented and paid by your bank, they are liable. Fraud exists and crime is real.
  • Rest well. It gives you assurance knowing that every penny is well accounted for.
Income statement or Profit & Loss: Income statement is also known as trading profit and loss account. It adequately captures all revenues minus expenses and lets you know if the business is running at a loss or making a profit. It also allows you to
  • Monitor operating performance by tracking income and operating expenses
  • Determine the areas of your business that are sufficiently and insufficiently funded
  • Identify the items that contribute to high operating expenses such as telephone expenses, fax or mail
  • Keep track of sharp increment in product returns as a percentage of items sold
  • Calculate income tax figures adequately
Balance sheet: A balance sheet lets you know the financial position of your company at a given period of time. In other words, it allows you to see an accurate assets balances your company owns and what are the liabilities against such assets. It also helps you;
  • Identify your business financial strength and weakness
  • Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.
  • Consider and explore possibilities for expansion of your business
  • Gauge the amount of revenue and expense your business can handle
  • Draw out a plan to enhance cash reserves if need be
  • Make moves to avoid a cash shortage
Without an accurate and well-prepared balance sheet and income statement, it would be impossible to prepare a comprehensive financial statement report. Consequently, obtaining loans from banks and attracting potential investors would be challenging because it would be difficult to determine the profitability and value of your business.

Maintaining a clean general ledger

The general ledger is an essential part of your company’s financial records. Without a general ledger, there would be no financial records for your company. General ledgers is the foundation basis of your business bookkeeping because all transactions must be entered in it. We help you track errors such as double billings and unrecorded payments and correct same so that your records will remain accurate.

Free Unlimited Consultations

We are always available and easily accessible. We are at your beck and call and we are on the ground to guide you every step of the way. Our prices are reasonable. In fact, our consultations are already included in the price submitted to our clients. You can call on us if there is anything you do not understand. These tasks form the solid foundation of your small business accounting system.You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

Superb Small Business Accounting

The things we do shape the basis of the accounting system for your small businesses. No company wants to run at a loss. Every carefully managed business should earn enough income and make as much profit as possible as this is the essence of establishing an enterprise. In doing this, business owners strive to reduce cost, tax liability, and operating expense without failing to abide by existing laws or complying with already established procedures. Failure to comply with tax regulations and procedures usually lead to serious sanctions from different tax authorities. Furthermore, it is eminent to seek the help of experienced certified public accountants to handle your organization’s accounting, tax, and business consulting needs.There are many accountants offering these services but none can compete with the experience and knowledge SmartCPA has garnered over the years. There is a common saying that experience is the best teacher and SmartCPA clearly represents this line of thought. Our CPAs and staff have a combined experience of over 50 years handling tax and accounting issues for clients. Our senior and key employees have experience across different fields. Some are attorneys, CPAs, tax analysts, and accountants. When you work with us, you would have very little or nothing to worry about; Our team becomes a part of your team for the duration of work.Our team is friendly, courteous and highly professional. We have served many clients over the years and all of them are amazed of our professionalism and attention to detail. When you sign up with SmartCPA, we become a great asset and resource to your business and assist in achieving the ultimate goals of your organization. In any highly stressful moment such as being audited by any tax agencies our experienced attorneys and cpas will reduce the anxiety of being audited and capable of representing your organization in front of all tax authorities. From our standpoint, your pain is our pain and your gain is our gain. We are happy to serve at all times and we have a track record of exceptional service delivery. We are licensed to represent you in front of the IRS (Internal Revenue Service), Franchise Tax Board, Employment Development Department and Board of Equalization. With over twenty-five years of experience under our belt, owners of small and mid-sized businesses can greatly benefit from such experience and our wide array of services.