Three Ways An Accountant In Palm Springs Can Streamline The Bookkeeping Process Of Companies Large And Small
Most business owners don’t start a company because they enjoy accounting, and many often struggle to maintain accurate financial records. Improper oversight of a companies books can lead to many problems and prevent a manager from having the information they need to make sound business decisions. An accountant in Palm Springs CA that offers contract based services can solve this dilemma by assisting a company with the following items, which allow a business owner to gain insights on the financial health of a corporation.
The easiest way to determine if a business has cash flow issues is to perform regular account reconciliations, as these compare bank statements with any items that are reported in a company’s books or accounting software. Proper reconciliation can also provide more transparent financial records, and help stave off issues related to embezzlement and company theft.
Receivables and Payables
It is essential to keep track of the bills that come in and the invoices that go out. If receivables are not paid promptly, it can lead to significant cash issues and prevent a company from having the money needed to maintain day to day operational expenses. An accountant in Palm Springs CA will be able to track all funds that go in and out and make sure that any outstanding invoices are addressed and collected on as soon as possible.
End of Year Filings
Businesses are required to submit the proper tax filings to both state and federal revenue departments by specific deadlines, and failing to do so can cause a tax liability to increase through the assessment of fines and fees. Let an accountant handle this aspect, as they will make sure that any information submitted is accurate and that required forms are filed by the expected deadlines.
Maintaining the finances of a business isn’t easy, but an accounting firm is standing by to help. The tax and accounting professionals at Miller and Mehr offer a wide array of customizable services that can give any business owner up to date information and keep a company compliant. Visit millermehr.com to learn more or call today to see how hiring a professional firm can save time and money.