Small Business Accounting In Redding, CA
One CPA to Manage Your Entire Financial Picture
There are many departments in a small business. Most business owners don’t have the adequate time it requires to focus on all areas. This is when deadlines get missed, and penalties are assessed. That’s when hiring a small business accountant in Redding makes sense. Susan’s small business accounting services include accounting, compliance reporting, sales tax and payroll. No need to have separate providers, having everything done by one CPA reduces errors and increases operational efficiency.
- CA License # 96754
- One provider of complete accounting services
- CA License # 96754
- One provider of complete accounting services
- Serving Shasta County since 2007
Fragmented accounting setup
Bookkeeping Maintains Records, Small Business Accounting Runs the Operations
Bookkeeping and accounting are not the same thing, although they are closely related. Bookkeeping simply records transactions. Accounting manages the financial health of the business. Most small businesses focus on keeping the books but stop there. This leaves many business owners without a clear understanding of their true financial position.
- Bookkeeping is for recording transactions. The data is classified and the accounts are reconciled. That is an essential starting point, but it’s not sufficient enough to determine if your entity structure is costing you money, if your chart of accounts is appropriate, or if your financials make sense to a lender.
- Multiple disconnected providers. A bookkeeper who does not communicate with your tax preparer. A tax preparer who is not familiar with your business. A payroll service that creates forms that no one reads. You might have all of the pieces in place, but there is room for error if it's not being reconciled within your business accounting.
- Non-compliance issues without oversight. No one's overseeing the sales tax registration, 1099 filing, annual reporting, and entity elections. Discovery happens when the penalty notice is received.
Full-service small business accounting is when one licensed CPA manages the entire accounting process, from the organization of the entity to the year-end process.
Years in accounting
Licensed CPA
Worked directly with Susan
- Paying thousands more in self-employment tax than is necessary due to operating under the wrong entity structure.
- A chart of accounts that is unable to provide useful management reports for sound decision making.
- Penalties for operating in a taxable state without being registered for sales tax.
- 1099 filing errors or omissions which lead to IRS backup withholding notices.
- Inaccurate financials due to last minute preparation in order to meet deadlines for bonding or loans.
Redding Small Business Accounting All Under One Roof.
Full service accounting is not bookkeeping with extra steps. It covers a completely different set of services. Susan manages the entire financial relationship, structure, systems, compliance and reporting as one service.
- Entity structure review and planning. LLC, S-corp, partnership, or sole proprietor. Determine if your existing structure is tax efficient, and if not, figure out what setup will be best for your needs.
- Customized chart of accounts for your business. This isn’t just using the default list offered by QuickBooks. Your financials are not just a filing requirement, but rather a meaningful part of your management decisions.
- Monthly bookkeeping and reconciliation as the base. Accounts reconciled, transactions properly classified, and books closed monthly.
- Accounts receivable management including e-invoices, past due collection strategies.
- Accounts Payable management, cashflow timing and efficient payable strategies.
- Financial statements prepared timely. Ideal for lenders, partnerships, and other third parties.
- Sales tax compliance, including registration, returns, and nexus analysis for California and any other states that have taxable activity.
- 1099 preparation and filing for contractors and vendors. A review of your vendor list annually to determine who should be receiving a 1099.
- Integrated tax preparation. Your entity return and owner’s personal return are prepared by the same CPA that prepared the books. That means there is no handoff errors and minimizes surprises at filing time.
- Payroll coordination: Susan coordinates with your payroll provider or sets up and oversees payroll and compliance reporting to make sure that your W-2s, 940s, and 941s match the books.
- Established businesses that have outgrown basic bookkeeping and require full accounting support.
- LLCs and S-corps that have not reviewed their entity choice since the time of formation.
- Business owners currently using multiple providers with no coordination of services.
- Companies requiring financials prepared regularly for a bank, insurance, partners, or investors.
- Businesses in California or other states with sales tax responsibilities that are not being administered.
Bookkeeping vs. Accounting vs. Full-Service + CFO Advisory.
Most businesses begin with only bookkeeping. As the business grows full service accounting become necessary. Some need both plus strategic advice. Here’s how to know which level fits where you are.
Bookkeeping
- Chart of accounts design
- Monthly reconciliation
- Transaction classification
- Monthly P&L and balance sheet
Small Business Accounting
- Monthly reconciliation
- Transaction categorization
- Monthly P&L & balance sheet
- Review entity structure
- Chart of accounts design
- CPA close at year end
- Sales tax compliance
- W2 & 1099 filings
- Quarterly tax preparation
- Accounts Payable
- Accounts Receivable
- Payroll & Tax Compliance
Accounting and CFO Advisory
- All things included in accounting
- Cash Flow Projections
- Variance analysis and budgeting
- Pricing and margin modelling
- Strategy meeting
- Lender and investor reporting
- Succession and exit planning
- Learn about CFO Advisory
Accounting Effects All Parts of a Business
There are a lot of different business operations that small business owners have to manage, from sales and customer service, to payroll and tax compliance. Susan can help manage everything accounting related, including the entity structure optimization, bookkeeping, accounting compliance, and the annual tax return, so they’re all reviewed and processed by the same person. This provides assurance that the financial happenings that took place during the year are reflected accurately at tax time.
The difference between a single-member LLC and an S-corp election can be thousands of dollars per year in self-employment taxes. Susan takes your entity structure into consideration at the beginning of the engagement and again as the business grows.
When a CPA who kept the books all year prepares the year-end close, there's nothing lost in translation. No scramble in March to reconcile the numbers. Financial reports agree and the tax return reflects the year.
Entity annual reports, payroll deposit schedules, sales tax due dates, 1099 due dates. These are monitored as part of the engagement. No more stressing about deadlines and past due notices.
Susan operates a small firm by design and works directly with clients. Have a question about your business? Susan is available to discuss.
CPA oversight, bookkeeping, and compliance monitoring
CPA for entity return & personal return (Billed Separately).
Questions and compliance checks are a part of the service.
A Simple Process to Get Started With Small Business Accounting
Receive a complimentary accounting review. You explain the business, including what it is, how you're doing your accounting currently and what you could use help with. Susan will ask further questions and suggest what she reccomends to be implemented in order to improve your business operations.
Susan reviews your current books, entity documents and previous year tax returns. She looks for any inconsistencies in the chart of accounts, financial structure, compliance, and will prioritize what needs to be done first in order to convert to full service small business accounting.
Susan proposes a monthly fee and what is included in the tailored service agreement. Should additional work be necessary prior to the beginning of the accounting engagement, additional services and associated costs will be discussed.
Relationships are established and services are in agreement. You no longer have to deal with managing compliance deadlines and different service providers. You'll have one CPA who has an understanding of your entire financial situation.
Common Questions About
Small Business Accounting
Bookkeeping is the recording part, which involves matching accounts, classifying transactions, and providing monthly reports. All that and more is included in small business accounting, and it's all done by the same licensed CPA who can also prepare your tax returns. It's the difference of having someone just keep your records versus having someone manage your financial operations and compliance.
This decision is based largely on net earnings. If you have a single-member LLC, you are considered the owner of a business, and you pay self-employment tax on 100% of your net profit. Owners with an S-corp election can split income into salary and distributions to reduce self-employment tax, but there is more administrative work like payroll, a corporate return, and documentation of reasonable salary.
Yes, if you are a seller of taxable goods or services in California. One of the most frequent issues Susan sees with new clients, is not understanding that even a single taxable sale is required for reporting. There is no threshold. Late registration and back filing may have serious consequences. Registration, sales tax filings, and nexus analysis are included in the accounting engagement.
It depends on the person doing the bookkeeping and whether or not they’re keeping the books to a standard Susan is comfortable with. Most of the time, clients hand over bookkeeping to Susan when she takes on the job and the entire accounting process resides in one place. For business owners who prefer to manage their own books or employ an in-house bookkeeper, Susan offers specialized mentorship and review services. Available on a monthly, quarterly, or annual basis, these comprehensive reviews can help catch errors early and provide peace of mind that in-house work is being done timely.
No. Susan provides in-person service in Shasta County, including Redding, Anderson, Shasta Lake, Palo Cedro, and Cottonwood, and also works with small businesses in California and the U.S. remotely. Most of the current accounting activities are done virtually, such as access to accounts, delivery of monthly reports, and compliance filing. Susan also offers in person on-site visits for clients where it might be required.
One CPA. Your entire financial picture.
Schedule a meeting today and discover how a full-service small business accounting firm can help.