Strong accounting is key for any enterprise, yet a surprising number of businesses have a poorly functioning accounting department that is ineffective, inefficient, and just too expensive. By outsourcing to a professional accounting company like My OC Bookkeeper you can improve the quality of your accounting capabilities and often save money at the same time. We are experts at what we do – let us help you.
At My OC Bookkeeper we provide a wide range of accounting services to businesses across industries. Each relationship is different, and we cater our services to your specific needs. In some cases basic help will do, in others you may need in depth reporting and financial analysis so you can make difficult strategic decisions. Whatever you may need, we are here to help you to create a lean, effective, and insightful accounting department that can be an asset rather than a liability.
We work with companies from all over Southern California whether they’re in Orange County, San Diego, Los Angeles, or Riverside. Our typical accounting services include: Financial & Management Reporting; Fixing Mistakes in Your Books; Monthly, Quarterly and Annual Reviews or Closes; Financial Analysis; and Family Accounting. Read on to learn more.
Financial Management & Reporting
Management and financial reporting involve creating reports that provide insights into either an entire business or a department within that business. They are usually done on a recurring schedule and often involve key performance indicators (KPIs) or other forms of financial data. Generally speaking, the goal is to provide management (or investors) with information that they can use to fuel their strategic decision making and/or better understand the innerworkings of the company. If you’re interested in creating reports that will provide you with actionable information on your company, let us know. Getting into the weeds and pulling out insights is something that we love.
Fixing Mistakes in Your Books
Are your books a mess? Disappointed with the work of your previous bookkeeper or accountant? That is something we hear all of the time. Mishandled books can cause confusion, stand in the way of strategic decision making, cause tax errors, and make your finance function slow and inefficient. We have seen it all when it comes to bookkeeping errors and can step in to fix mistakes so they don’t compound and get worse year after year. Don’t wait any longer, reach out to us today!
Monthly, Quarterly, Year End Close or Review
Accounts payable is the recording and management of bills sent to you by vendors, and accounts receivable is the recording and management of invoices you send to customers. Properly managing AP and AR ensures that you pay your bills on time and get paid on time. We can just record your bills and invoices and let you handle the payments, or we can manage the entire process start to finish. We can just do the AP and leave the AR to you, or just do the AR and leave the AP to you, whatever helps you the most.
Financial analysis entails scrutinizing the data resulting from day to day bookkeeping and accounting – often as expressed through financial statements – in order to better understand how a business is functioning. It often involves ratios such as the debt to equity ratio, ROI, days payable outstanding, or net profit ratio, and may be a component of the management reporting process. (See above.) There is nothing we like better than digging deep into the numbers to pull out insights. This is fun for us, so if you need some help with financial analysis, let us know.
Family accounting is a broad concept that can mean different things for different families. Typical services include tracking and paying bills, managing and preparing budgets, aiding with strategic planning, assisting with tax preparation, creating family level financial statements, and general support with issues as they arise. When we help families with their accounting we treat their books as if they were are own. If you are interested in taking a good look at your personal finances, reach out to us and let’s get to work.
Frequently Asked Questions
An outsourced bookkeeper is a professional bookkeeping firm (or individual) that provides bookkeeping services to a company but is not considered a regular internal employee but rather they are an outside service provider. This is a practice that has been going on for many years and is quite common.
There are many reasons why hiring outside bookkeepers is so popular. For one, a lot of businesses don’t have enough work to motivate hiring internal staff. Rather than incurring the substantial costs associated with adding employees (either full or part time), they pass the work to an outside service provider, thereby saving both time and money.
Another reason is the simple fact that a lot of business owners don’t have expertise in the realm of bookkeeping and attempting to do the work internally is can be inefficient, ineffective, and risky.
Yet another reason are the unique benefits which outside firms can provide – they can increase or decrease their workload depending on your needs, they are experts in a wide variety of tasks (My OC Bookkeeper, for example, can do everything from basic bookkeeping to advanced financial modeling), and they are a longer term solution than employees who often leave for personal or professional reasons.
These are just a few reasons. If you want to know some more just reach out to us and let’s chat.
Not much. Outside bookkeepers, virtual bookkeepers and online bookkeepers all do the same thing: serve as outside service providers who manage the books for their clients. To refer to a bookkeeper as remote or online just serves to emphasize that they usually do not work in their client’s offices. At My OC Bookkeeper we consider ourselves all of these things, but in some cases do go into our client’s offices as needed.
Take a look at our resource center. We’ve got great blog posts, videos, explanations of common accounting terms and useful links to help you on your business journey. Accounting, bookkeeping, and all things related to the finance department are our passion, and we love teaching others.
Side note: is there something in particular that you would like to learn about but can’t find anything in our resources? Let us know and we’ll write about it.
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