What Does Your Accounting Department Look Like?

File cabinets, bank boxes, envelopes and even shoe boxes are what some companies consider the “accounting department.” Unfortunately for those companies, there are important tax and employment issues that need to be handled year-round—not just once a year or every few years. Not paying attention to such issues can ultimately destroy a company, which is something that is happening more often in today’s economy. On the other hand, when your company’s accounting is in order not only can you run more efficiently and provide better customer service, but you can also save money. If, however, your accounting department does in fact consist of a few file cabinets, consider hiring a San Diego accountant, like those at Allen Barron Inc. They offer a variety of accounting and bookkeeping services based on your monthly, quarterly and yearly needs. When it comes to these services, having a plan is most important. Therefore, our experts—who are well-versed in the intricacies of accounting in San Diego—will work with you to develop strategies for success.

Monthly accounting tasks can include the following:

• Preparing payroll
• Preparing payroll tax deposits
• Paying bills and generating financial statements
• Implementing commission reporting
• Credit card reconciliation

Quarterly accounting tasks may include the following:

• Analysis and review of quarterly financial results
• Inventory management
• Quarterly tax payments

People are most familiar with yearly accounting tasks, such as the following:

• Preparing W2s and 1099s
• Preparing W3 and state reconciliations
• Preparing federal and state corporate tax returns
• Preparing payroll tax returns
• Creating budgets and forecasting

Notice how often the word “prepare” comes into play when discussing accounting and bookkeeping services. A reputable accountant understands this and works with you to implement a dynamic plan of action. You can choose to have your financial representation manage these services on a continual basis or have them implement strategies that you manage in the future.

Examples include the following:

• Financial statement preparation
  • Prepaid expenses
  • Balance sheet
  • Budget/Forecasting
  • Cash Flow
• Inventory set up and management
• Preparation of accounting policies and procedures
• QuickBooks® software set up and training
• Royalty reporting
• Establishment of a general ledger

As you can see, there are numerous accounting and bookkeeping options available today. Wouldn’t you rather take the burden off your shoulders? Not worrying about administrative tasks allows you to focus more on growing your business, creating new products that attract new customers and developing new marketing for those new products. At Allen Barron Inc., we believe we can help you achieve just that. Contact us today for a free consultation and assessment of your current and future accounting needs. You can contact us via phone at (866) 493-5400 or find us on Facebook, Twitter and LinkedIn.