As a small business owner you have more important things to do than to keep your own books. As one of the top tax preparation firms in Rancho Cucamonga you can trust us to expertly manage your books for you, so you can get back to the job of running your business and generating profits!
Each month or quarter we'll do the following things for you...
These tasks form the solid foundation of your small business AccountingBookkeeping system. You can customize the package of Rancho Cucamonga tax services you receive by adding payroll, tax planning, tax preparation, or any of our other services including Quickbooks support.
Bank Reconciliation
Reconciling your business checking account each month allow us to keep your bank account, AccountingBookkeeping, and taxes up-to-date.
Having us reconcile your account each month allows you to...
Identify lost checks, lost deposits and unauthorized wire transactions.
Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
Detect and prevent embezzlement of funds from within your company.
Know how your business is doing? You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.
Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.
Income Statement
An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.
An income statement allows you to...
Track revenues and expenses so that you can determine the operating performance of your business.
Determine what areas of your business are over-budget or under-budget.
Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
Determine your income tax liability.
Balance Sheet
A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.
A balance sheet helps you...
Quickly get a handle on the financial strength and capabilities of your business.
Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.
Determine if your business is in a position to expand.
Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses?
Determine if you need to take immediate steps to bolster cash reserves?
Determine if your business has been slowing down payables to forestall an inevitable cash shortage?
Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.
Maintaining a Clean General Ledger
The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.
Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept in tip top shape.
Unlimited Consultations
We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.
Contact Paramount Tax & Accounting - Rancho Cucamonga if you'd like to receive a Free Consultation on our Small Business AccountingBookkeeping Service.
Love Chris and his entire Team ! They are awesome !!
— Angelica Shimmin,
Posted May 15th 2023 on google
Chris Collins is hands down the best CPA around. Was referred by a family friend over 15 yrs ago and have been going to him ever since for taxes, mortgage, investments and any money/ life advice. Chris has become like family and his entire team at Fusion Financial is amazing .
My wife and I have been with Chris for close to 20 years. He is patient, personable, professional. Will take the time to answer questions. He is now preparing the tax returns for our kids too!
Love coming here and working with the team, especially Chris. He has been working with my family for 15 years and would never go anywhere else. Super helpful and knowledgeable. Always friendly. Will continue coming back.
Chris is the best tax accountant you can go to. Very knowledgeable about everything and answers all questions you have.
— Matthew Velasquez,
Posted May 1st 2023 on google
Chris and team are excellent, thorough, and very professional. Highly recommend for all tax services.
— Andrew Saltsgaver,
Posted May 1st 2023 on google
I had my tax done today with Chris and I was very pleased with the service. He was very professional and very patient. For sure, they offer high quality service.
— Ladan Modallel,
Posted April 29th 2023 on google
Chris and his team is amazing, it is a great comfort knowing that I have a team of people protecting me and my family!
— Mike Howard,
Posted February 10th 2023 on google
They were a great help with my taxes and also gave me some advice Ways to help me with my future planning.
Thank you David
— David Pusczewicz,
Posted April 28th 2023 on google
We love them… still going back after 17 years. They’re honest, dedicated and helpful in anything taxes. Everything else, they can help with that too. Keep up the amazing work. Thank you so much Chris and Mike.
This is my second year working with Chris and the team at paramount to file my taxes. The whole team is great! They treat you like family and are truly there to help. Ill be a customer for life from now on.
Many people do not know how a professional tax firm differs from a tax preparer. The main difference when working with a professional tax and accountingbookkeeping firm, such as Paramount Tax & Accounting - Rancho Cucamonga, is that our firm utilizes the services of CPAs, EAs, and Attorneys who are distinguished from other finance professionals by stringent qualification and licensing requirements.
Paramount has worked hard to create relationships to deliver the value that our clients expect. In fact, our goal is to be the No. 1 Bookkeeping firm in Rancho Cucamonga. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting - Rancho Cucamonga!
Whether you are filing personal taxes or you own a business, if you are not already using a professional tax and accountingbookkeeping firm, you have most likely already missed out on major tax benefits, deductions and credits. This is because a professional tax and accountingbookkeeping firm utilizes licensed professionals such as CPAs, EAs and Attorneys, who can not only advise individuals on personal financial matters but who are qualified to advise businesses, financial institutions, nonprofit organizations and government agencies on a wide range of financial topics.
Our strict standards ensure that we understand the complicated tax laws and how to implement strategies that return the most benefits to individuals and businesses. Give Paramount Tax & Accounting - Rancho Cucamonga a call or visit our
tax and accountingbookkeeping firm in Rancho Cucamonga
for a free consultation.
Through dedication to the three underlying principles of professionalism, responsivenessandquality, Paramount is committed to providing outstanding service to our clients.
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