Virtual Bookkeeping Services
Why Not Choose Us?
Again, we are the BEST Bookkeeping and Income Tax Service Firm around!!! Clearly, our business accountants, bookkeepers are trained, highly qualified, and specialized in working on the most up-to-date bookkeeping/accounting software programs available to you. We make sure that you can access your data without any hassles to keep you on top of your finances.
Free Book an Appointment
Free Income Tax Organizer
Pricing for 1040 Income Taxes
Pricing for Bookkeeping Services
Pricing for Business Income Taxes
Virtual Bookkeeping
We will analyze your business operations, trends, costs, revenues, financial commitments, and obligations, to project future revenues and expenses.
We will establish tables of accounts and assign entries to proper accounts.
We will develop, maintain, and analyze budgets, preparing periodic reports that compare budgeted costs to actual costs.
We will survey operations to ascertain accounting needs and to recommend, develop, and maintain solutions to business and financial problems.
We will advise you about issues such as tax strategies, and the assumptions underlying budget forecasts.
We will provide internal and external auditing services for your businesses or any individuals.
We will advise you in areas such as compensation, the design of accounting and data processing systems, and long-range tax and estate plans.
We can investigate bankruptcies and other complex financial transactions and prepare reports summarizing the findings.
- Provide reliable, efficient, and experienced bookkeeping/accounting support to your business.
- Ensure sound financial advice based on regular maintenance of your financial data.
- Contribute to long term and sustainable success of your business by keeping an eye on the projections and performance with regular financial reports.
The cornerstone of our business philosophy is extensive and continued communication with you as a client. We keep our clients in the loop at all stages of their accounting procedures with regular reports for the client’s review. In addition, we also act as outside controllers maintaining and analyzing your accounting data. This extra set of eyes allows you to focus on your business needs and permits you to grow your business without the distractions of needing to constantly look over your bookkeeping/accounting needs.
- We are well versed with various cloud and desktop accounting software packages. We are also comfortable working with excel spreadsheets or custom/industry-specific software.
Our Bookkeeping Services
El Cid Bookkeeping, Inc. Accountancy and Taxation will commence work on your file once the engagement letter is executed by both parties. Upon commencement El Cid Bookkeeping, Inc. Accountancy and Taxation will require documentation from your company to proceed. We require us to have restricted access (review only) to your bank accounts and credit accounts and the following items;
- Copies of every day issued checks from all checking account
- Copies of receipts both checks and credit card transactions
- Identification of all cash receipts as to source (i.e., loans, sales, etc.), and information concerning all transactions that are consummated with cash.
- Copies of Bank Statements
- Copies of last Bank Reconciliations
- Copies of Credit Card Statements
- Copies of last Credit Card Reconciliations
- Copy of last Financial Statements – Balance Sheet and Profit and Loss Statement
- Copy of last filed return
- Annual Statement of Information (SOI -California)
- Annual City of Los Angeles (City Tax)
- Payroll Services for W-2(s) and Year-End 1099
The cost of hiring a bookkeeper can vary depending on the size of the business and the Bookkeeper’s experience. However, on average, a bookkeeper will charge anywhere between $40 – $85 per hour, depending on the size of the business.
Bookkeeping involves the recording, regularly, of a company’s financial transactions. With proper bookkeeping, companies can track all their books to make critical operating, investing, and financing decisions.
Our bookkeepers manage all financial data for companies in or around North Hollywood CA and Hollywood, CA.
Bookkeeping is the recording of financial transactions and is part of accounting in business and other organizations. It involves preparing source documents for all transactions, operations, and other business events.
Transactions include purchases, sales, receipts, and payments by a person or an organization/corporation. There are several standard bookkeeping methods, including the single-entry and double-entry bookkeeping systems. While these may be viewed as “real” bookkeeping, any process for recording financial transactions is a bookkeeping process.
The person in an organization employed to perform bookkeeping functions is usually called the bookkeeper (or book keeper).
Above all, efficient accounting and operating procedures ensure that the business runs smoothly. Clearly, future growth is possible, only if the books are in good and accurate order.
Moreover, El Cid Bookkeeping, Inc. has been providing accounting services to small, medium, and large size businesses. Apart from this, El Cid can perform functions as general ledger accounting, payroll, financial analysis, bank reconciliations, and financial statement reports.
Methods of Bookkeeping Services
Before you begin bookkeeping, your business must decide what method you will follow. When choosing, consider the volume of daily transactions your business has and the amount of revenue you earn. A complex bookkeeping method designed for enterprises may cause unnecessary complications if you are a small business. Conversely, less robust methods of bookkeeping will not suffice for large corporations.
Importance of Bookkeeping Services
Proper accounting services and bookkeeping and payroll services give companies a reliable performance measure.
It also provides general strategic decisions and a benchmark for its revenue and income goals. In short, once a business is up and running, spending extra time and money on maintaining proper records is critical.
El Cid can give you consulting services on your bookkeeping. We work with many small businesses. We can provide you with monthly financial statements and your income tax return for IRS and State.
Many small companies don’t hire full-time accountants to work for them because of the cost. Instead, small companies generally employ a bookkeeper or outsource the job to a professional firm.
Bank Account Balancing
Bank account balancing is the process of finding identical transactions in your bank account and your bookkeeping records.
Balancing your bank accounts is a crucial step in bookkeeping.
Because, after everything else is logged, it is the last step to finding discrepancies in your books. Bank account balancing helps you ensure nothing amiss with your money.
Why is it Mandatory?
Bank balancing is a must because it:
- Provides the exact financial situation of your company
- Tracks cash flow accurately
- It helps detect fraud or bank errors
Contact El Cid