February 2018 - Accounting X

5670 Wilshire Blvd. Suite 1800 Los Angeles, CA 90036

AccountingX Recognized by Expertise as Best Accountant in West Hollywood

AccountingX Recognized by Expertise as Best Accountant in West Hollywood

(PRLEAP.COM) AccountingX, the leader in virtual accounting services, was recognized by Expertise as Best Accountant in West Hollywood. The honor is based on a twenty-five point variable scoring system including: reputation, credibility, experience, availability, and professionalism.

AccountingX is a virtual accounting firm offering bookkeeping, controller and financial advisory services to small and mid-market organizations. They specialize in Medical, Non-Profit, Professional Service firms, and with their convenient location in Los Angeles, the Entertainment industry. Expertise conducts in-depth research of professionals to objectively qualify the best local experts. They pride themselves that businesses cannot buy the distinction.

 

 

Tim Hughes, Founder and CEO of AccountingX, commented on the award, “We are honored to be recognized as one of the best accounting firms in the LA area. Over the past year we have really redefined who we serve and how we deliver our expertise to businesses across the US to help them be more profitable, and efficient. We look forward to continuing the service of this great community!”

AccountingX provides over thirty-five years of experience to clients across the U.S. as the leading virtual accounting firm. Focus is on the overall health of the organization and is enabled through state of the art cloud technologies so business owners and executives have anytime, anywhere access to financial data.

About AccountingX
AccountingX: Virtual accounting, bookkeeping, controller, and financial advisory services for your business. We manage your day-to-day accounting needs so you can focus on growing your business. Our experienced staff includes CPA’s, bookkeepers, controllers, financial advisors, and more. Working together we supplement or replace your current accounting and bookkeeping functions, implement up to date technologies and support you in creating goals and tracking your financial goals. Visit www.AccountingX.com for more information.

For more information on how you can have the best accountant in West Hollywood handle your financials get in touch with us today!

Financial Health: Do You Know Where Your Business Stands?

Financial Health: Do You Know Where Your Business Stands?

Do you know how much money your business makes every month? Businesses are in the money-making business to make a profit. But if they are not careful, they may confuse income with profit. They write in a book or a spreadsheet their sales, track their income coming in/out. They total it up at the end of the day and see the total. Well, that sure isn’t the profit, it is income. So, it is imperative that you know what you make every month and compare what is coming in and then minus what is going out.

REVENUE – COSTS = PROFIT

 

A lot of business owners are missing out on important data and financial reports that can influence their success. Sure, they might have information about their commodities or how they link to their customers, but what they really need is to ensure their understanding of the business’ financial health.

 

Make it a priority to stay informed about financial tracking, and it would behoove you to hire a bookkeeper to help with the continuing tasks.

 

Don’t make that fatal mistake of waiting until the end of the year to formulate your financial reports. Instead, it is better to inspect productivity once a month, in order to have an understanding of your company’s financial health. By waiting even, a half-year, you might notice a problem that could have been rectified 5 months ago but now, too much time has gone by and the issue has become too big.

 

By being consistent with the tracking of your company’s financial health, you will see that inspecting your financial reports monthly is very advantageous to help you prevent financial ruin and make better business decisions.

 

You need to be proactive in keeping abreast with the financial numbers of your company to maintain success in your business.

 

When your management sees the tracking and publishing of the company’s numbers, they can see what is important and continue to do more of it while making the best decisions possible when it comes to the budget, critical spending, and even loan approval.

 

To receive a free financial health check for your business click here.

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