Small Business Bookkeeping Services

Eugene PalovikMy Los Angeles Small Business Bookeeping Services firm offers accounting bookkeeping, and tax preparation at affordable prices to individuals & business owners. If needed, we can take these time-consuming, critical accounting and bookkeeping tasks off your hands so you can focus on building your business.

Tax Return Preparation – I also offer tax return preparation for individuals and businesses. Call me at (855) 791-1950.

Small Business Accounting

Palovik Financial Services provides affordable bookkeeping services, the preparation of accurate and useful financial statements.

Each month or quarter we can do the following things for you…

  • Reconcile your bank account
  • Generate an income statement
  • Generate a balance sheet
  • Clean up your general ledger
  • Provide unlimited consultations

These common bookkeeping tasks are the base foundation of any small business accounting system. We can sit down and brainstorm exactly what you need and customize our list of tasks you’d appreciate. For example, we could add tax planning and tax preparation.

Bank Reconciliation

Reconciling your business checking account with your books every month allow us to keep your bank account, accounting, and taxes up-to-date. It also quickly identifies identity theft, bank errors, and problems that if not found in a number of days may not be correctable due to your bank’s terms of agreement that you are obligated to agree to by having an account with them.

Having us reconcile your bank account each month allows you to…

  • Identify lost checks, lost deposits and unauthorized withdrawals.
  • Detect and prevent excessive or unjustified bank charges
  • Uncover transactions that are incorrectly posted by your bank.
  • Detect and prevent embezzlement of funds from within your company.

Know how your business is doing?

You can’t really know how your business is doing unless all your accounts are reconciled and meaningful reports and financial statements are generated.

Protect Yourself and your Business

WHen you regularly reconcile your bank accounts, it is easy to uncover any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank. We have clients who have caught these problems only at the end of the year when pulling data together for tax time. Too much time had passed and they were forced to take the losses.

Peace of Mind

You will experience peace of mind knowing your bank accounts are reconciled, in balance, and all your accounts, checks, credit cards, and disbursed funds are properly accounted for.

Primary Financial Reports: General Ledger – Balance Sheet – Income Statement

Primary Financial Reports – your General Ledger, Income & Expense Statement and your Balance Sheet are the primary reports that ALL businesses rely on to understand the financial condition of their business and business activities.

These Primary Financial Reports are absolutely necessary should you want to get loans from banks or the SBA, if you need vendors to finance materials and need to calculate how much credit to grant you; and to prepare the best possible tax returns where you can take advantage of the tax deductions that you are legally entitled to.

General Ledger

Your General Ledger is the core of your businesses’ financial records. Maintaining an accurate General Ledger is critical. The General Ledger is the CORE of a businesses’ “books.” Every transaction MUST, by definition, be recorded in your General Ledger. A problem with your General Ledger causes ripple-effect problems in your entire accounting system. When business owners, with no formal accounting training set up their own QuickBooks Accounting System, for example, they will often make a series of small errors in their General Ledger —or in their Chart of Accounts— that affects their General Ledger. At that point, almost all reports (Income & Expense Statements, and Balance Sheets) are never quite “right On” until those errors are uncovered and corrected.

Having me review your General Ledger each month allows me and my staff to track down any discrepancies such as double billings or any unrecorded payments. We can identify and fix any discrepancies so your books are always accurate and useful tools for you to grow your business.

Income & Expense Statement

An income & expense statement is a primary business report that itemizes of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for a month, quarter or year.

An Income & Expense Statements helps you:

  • Identify and quantify revenues and expenses so you can see at a glance the performance of your business.
  • Identify any areas of your business that are over-budget or under-budget.
  • Identify areas causing unexpected expenditures. Recently a client saw that old-fashioned landline phone, fax, and phone-company-provided Internet were dramatically expensive. Those expenses were cut in half in just a couple hours.
  • Determine your income tax liability that allows us to brainstorm ways to lessen it.

Balance Sheet

A Balance Sheet is a primary business report that gives you a financial snapshot of your businesses’ financial condition at a specific dates.

A Balance Sheet helps you:

  • Get a handle on the financial strength of your business; identify trends – especially payables and receivables.
  • Determine if your business is in a position to expand
  • Determine if your business is healthy as to the flow of revenues and expenses
  • Determine if you are getting into trouble so you can take actions to collect receivables

Unlimited Consultations

The handful of clients that I accept for small Business Accounting Services and Bookkeeping tasks can take advantage (within reason, mind you) of unlimited access to me so that you can fully understand how to interpret and utilize the primary financial reports we oversee and generate for you.

Eugene Palovik QuickBooks Expert and accountantIf you want a 27-year experienced accountant who teaches and works in the real world to oversee your small business accounting system, person, or accounting staff — to assist them with month-end, quarterly, and annual closings, tax returns and whatnot, call me and let’s talk. You can reach me at (855) 791-1950 most hours. If I’m not available, leave a message and e-mail me too, so I know that you’re serious.

Los Angeles Tax Preparers — Taxes & Accounting Services

Palovik Financial Services

Eugene Palovik
14241 E. Firestone Blvd – Ste 400
La Mirada, CA 90638

(855) 791-1950 – Office

(714) 441-1626 Fax

E-mail Eugene Now

Palovik Financial Services

For Accounting Clients

(855) 791-1950