In order to maintain operations and gain success,
organizations world over follow or must follow certain tested and established
number of methods. One of those methods is Bookkeeping, many call it Accounting
too. Los Angeles is a hub of innumerable businesses – small, medium and big.
The small ones may manage the bookkeeping tasks without the need of hiring an
experienced bookkeeper. But surely as they grow their business, trying to
continue such tasks would certainly affect the growth; failure to keep commitments
can result in an imminent failure, bringing disrepute. There are alternatives
available – one could hire bookkeepers; hiring CPAs’ services ensures they will have the bookkeeping tasks
accomplished from bookkeepers in their payroll.
If you are in Los Angeles and running a business, you know
how much work it necessitates. Now if you decide to take care of your funds,
manage the various files, records, and taxes then it can become overwhelming
sooner or later. For instance if you were to manage your taxes and did not have
the complete knowledge, it is like inviting trouble sooner than later. And it
is practically not possible to do all – managing taxes, performing business
tasks. You could be inadvertently causing an evasion that is criminal in the
eyes of the law. It is advisable to disburse time on your core business and
attempt not to delve too deep into taxes.
Another reason - your Banks or the Insurance company. They
need to review, inspect your company’s records – to see that you are taking due
care of the business and if the risk perception is getting the due treatment it
deserves then it lends its hand in the continuity of your business. So they
seek reports, registers, and files – possibly in specific formats.
Think more, would you be able to keep track of checks, other
incomes, paying bills, reconciling business checkbooks, paying your employees,
keeping track of receivables, following up with billing, collections and
innumerable such tasks?
It will be too difficult if not impossible for you to serve
such requirements if you do not hire the services of an experienced and
qualified bookkeeper or a CPA.
If yours was a larger business or you estimate it grow
exponentially, and then you would need a complete team to look after your
entire bookkeeping and accounting needs.
So for any business it is essential to assign the
bookkeeping and accounting tasks to a competent staff or services company.
One detail-oriented, honest, knowledge bookkeeping hand to
manage all the above should serve your purpose if yours was a small-sized
establishment. She or he should be conversant with the kind of business you are
pursuing; he should be aware of the requirements of the company, all the
stakeholders and the relevant government offices. Does he understand that yours
is a start-up? Is he willing to give the time such ventures seek? If he is the
one that specializes in start-ups and offers comprehensive knowledge transfer
plan at the conclusion, you should consider yourself fortunate. These days, it
may not be possible to find one who can serve without using a computer, so do
calibrate your needs according to trends in the current world. It will be no
less than a miracle if your needs were small and you find a hand that would be
able to forego a computer and accounting application software. However do keep an eye out on the operation methods
of your partners, stake holders; you need to match the expectations prevalent
around.
The smaller the company, the more interactions with the
bookkeeper or the CPA is the mantra for success. Avoiding him may not harm but
will not add value to your business goals. Keep talking, more often - make it a
point to sound like fun at business.
There are CPAs that specialize in advising certain sizes of
businesses, in case you were interested in outsourcing all of your bookkeeping
responsibilities instead of hiring a bookkeeper or an accountant. They would arrange to have all your accounting books
written in the most professionally acceptable manner, acceptable by all
government departments, with no risks - by their own bookkeepers. Larger
businesses tend to hire a regional or national CPA firm.