ACCOUNTING

We can manage, evaluate, and supervise your bookkeeper (or accounting staff) who may handle all of your bookkeeping, cash management, accounts payable (AP), and accounts receivable (AR). When you hire our Controller accounting services, you can be confident that we would ensure that best accounting practices are followed in your business or Non-profit in order for your staff to accurately capture and classify all of your transactional data while following the accrual method of accounting.

We can also manage and supervise your bookkeeper (or accounting staff) to make sure that cash controls like bank and credit card reconciliations are implemented at least monthly.

Applying cash controls to your business or Non-profit like segregation of duties are also very effective to the handling of cash receipts (AR), and cash payments (AP) to prevent theft and misuse of cash as well as reduce erroneous payments and fraud.

We know that as a small business or Non-profit, you may not have a full accounting team to do segregation of duties where one person handles cash including bank deposits, another AP, and another AR. Therefore, Taxnomics Tax And Accounting Services' part-time Controller services can be a great partner and provide that extra oversight.

The Balance Sheet reconciliation is an important step in closing your monthly financial books to ensure that the numbers in your Balance Sheet are accurate and complete.

We start with the Balance Sheet reconciliation to ensure that your assets, liability, and equity line items ending balances are in agreement with their supporting documents. This process may require us to reconcile the balance sheet ending balances against third party statements (ex. bank statement) or create additional work papers for prepayment, receivables, inventory, fixed assets, and payable accounts. Furthermore, the Balance Sheet reconciliation is a good way to identify weaknesses and detect fraud, etc.

We would reconcile the Income Statement (Profit & Loss (P&L)) after the Balance Sheet reconciliation to ensure that your income and expense line items ending balances especially large expenses are free from errors when compared to their source documents (invoices, receipts, etc.).

Are your books a mess? If yes, your business' or Non-profit's financial books -if any- are probably not useful for decision making, strategy, and regulatory compliance with government entities like the IRS.

Messy books have a hidden cost to your business or Non-profit because that cost is not reflected in your financial statements. Do you know what that hidden cost is?

Call Taxnomics Tax And Accounting Services today!

Do you know how much money your business or Non-profit needs to generate each month or year to break-even (cover fixed and variable expenses) to stay in business without incurring a loss or a gain? At Taxnomics Tax And Accounting Services we can run this calculation for you and remove your uncertainty and stress of not knowing how much money do you need every month, and/or year to stay in business.

Good bookkeeping records or a good estimate of fixed or variable expenses are needed to run a Break-Even Analysis.

Budgeting is a crucial step to a business's or Non-profit's financial success. A budget is like a financial road map that would guide your business' or Non-profit's financial management of cash inflows and cash outflows on a monthly, quarterly, or yearly basis.

Budgeting is also important to help allocate your business' or Non-profit's limited resources like cash among different projects and expenditures.

Budgeting can also align with your business' or Non-profit's objectives and goals. Therefore, at the end of a period, you as the business owner or Non-profit executive or board member(s) can compare actual financial results to budgeted line items. And from there, you can take corrective action(s) -if needed- to straighten your business or Non-profit on the path to continue delivering results based on your vision, mission, and goals.

Forecasting uses your business' or Non-profit's historical data to predict future financial performance, manage your budget, uncover potential opportunities and unexpected risks, etc.

Call Taxnomics Tax And Accounting Services today! We can help you quantify your objectives and goals and translate the results into useful data for decision-making purposes.

Your business' or Non-profit's long-term success depends on a positive cash flow year after year.

At Taxnomics Tax And Accounting Services, we can help you manage your business' cash flow and improve profitability by understanding your business in detail. As part of understanding your business in detail, we would evaluate how accounts payable and accounts receivable, credit terms, inventory management, and other finances are currently handle and recommend a plan of action.

Taxnomics Tax And Accounting Services can also manage your Non-profit's cash flow by understanding your Non-profit in detail. And from there, we can run a Statement of Cash Flow to better understand your organization's uses and sources of cash as well as to further understand accounts payable, and accounts receivable which can help us create a plan of action.

Close your books every month and match your income and expenses in the same month (known as the matching principle).

As part of your business' or Non-profit's month end closing, all of your bank, credit card, and other accounts need to be reconciled each month.

We can do the month end closing of your business or Non-profit as well as to calculate and post accruals, deferrals, depreciation, and amortization.

Call Taxnomics Tax And Accounting Services today!

Financial statement analyzes is a process to evaluate and review a company's balance sheet (statement of financial position), income statement (profit and loss (P&L)), and statement of cash flow.

The three financial statements are interconnected and provide a different story of the business' or Non-profit's activities and performance.

We can analyze your business' or Non-profit's three financial statements using ratio analyzes to gain insights on how fast your organization can convert liquid assets into cash, how efficient are its operations, and how profitable your business is, etc.

If you are starting a business and have a business plan and strategy, we can help you do the financial projections, so you can incorporate them into your business plan.

Financial projections are both science and art.

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Need a specific report out of QuickBooks, or excel? Please contact Taxnomics Tax and Accounting Services to find out how we can help.

We can evaluate your business' or non-profit's internal cash control and recommend how your assets can be better protected if your internal cash controls are found to have weaknesses.

The benefits of having strong internal cash controls in your business or non-profit include sleeping better, reducing stress, and protecting cash from being stolen with segregation of duties.

Call Taxnomics Tax And Accounting Services today to find out how we can help.

Do you have a financial project in mind but do not have the time and/or resources to do it internally in your organization?

Do you have accounting work to catch up for the year-end?

No project is too small.

Call Taxnomics Tax and Accounting Services today to find out how we can help!

Taxnomics Tax And Accounting Services can help your business' stay compliant with the California Department of Tax and Fee Administration by reporting and submitting your customers' sales taxes.