We will save your time so you don’t have to
Managing finances for your business can be a hassle and can waste a lot of your precious time. If you or someone you know is a small business owner, outsourcing to an Orange County bookkeeping service is definitely a great decision, and here’s why.
We understand that you don’t need someone to handle your business for you, but making the tedious activities a little easier would help right? When you hire a CPA to manage your bookkeeping orange county ca, we can promise that they have all the qualifications and skills to properly manage your money. This person knows exactly what to do, as they have plenty of experience working in many different kinds of businesses. With laws constantly changing in our society, hiring bookkeeping services orange county will relieve you of that pressure and allow you to focus on doing what you love to do.
What is Bookkeeping?
A bookkeeper is someone who handles all or a majority of a client’s finances and ensures that all depositing and payments have been accurately recorded. This person is responsible for any everyday accounting procedures for your small business, from balancing accounts to keeping track of debits and credits. They will record and manage all payables and receivables for you, while you get to spend your valuable time on things that are more important.
Tasks they will complete
- Processing invoices, payments and other transactions
- Prepare initial financial statements
- Maintaining payroll
- Preparing reconciliation reports, reconciling accounts
- Manage accounts payable and accounts receivable
Tasks they won’t complete
- Won’t give any Taxation, Superannuation fund, or Financial management advice
- Business establishment assistance
- Representation in auditing cases
- Corporate reporting and compliance
Bookkeepers are permitted to small tasks, as shown above, and anything larger will require a CPA’s knowledge and expertise. It’s completely normal for a bookkeeper to control and organize the transactions that come in through your accounting system’s bank feed. Basically, it’s mostly adding transactions from your side to the banks side and making sure that they match completely and that each value is exact with each side. These are basic level accounting services Orange County, but a bookkeeper will also process invoices, prepare initial financial statements, as well as manage accounts payable and accounts receivable.
Now a bookkeeper shouldn’t be telling you how to run your business. They aren’t permitted to give any financial advice regarding your business, or assist in establishing your business. These tasks are more qualified for a certified accountant. For example, If you are concerned with being surprised by an audit one day and not being prepared, a bookkeeper is not the right person for the job.
What’s the difference between a Bookkeeper and a CPA?
When business is booming and your finances are becoming stressful to deal with, it is more necessary and well worth it to “go the extra mile” and hire a CPA firm for your bookkeeping services orange county. They will fully manage your finances, as well as give you advice and assist in growing your business. Also, you can always be sure that your transactions with the IRS are solid when tax season hits, or if you’re suddenly shocked with an audit.
With this in mind, small businesses don’t need the same amount of financial help that a larger business needs. Some small businesses can control their finances themselves and don’t really need a CPA. This is when a bookkeeper is the better option. They don’t have the qualifications or skills of a CPA, but they do fit better for most small businesses. For daily, weekly, and monthly tasks, it makes more sense to use orange county bookkeeping. Unlike bookkeeping services orange county, CPA’s are hired for more difficult tasks, or advice on legality issues, and are simply overqualified for most small businesses.
Make Your Appointment Now
For over 35 years, Wynkoop & Associates has gained our experience providing local businesses here in Orange County with the financial expertise they need. We assure you that working with us means that you comply with all federal, state, and local business and financial laws and regulations, while you continue to successfully grow your business.
Our notable experience gives us the knowledge to ask you the right questions, as well as answer any of yours as well. Every business is different, meaning there are special regulations that must be followed depending on the services you provide or products that you sell. We know that our job is to assist you with your finances, so that you can limit your focus solely to your business’s growth and success.