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Small Business

Online Accounting Services

PacWest Accounting is committed to offering the most up to date accounting solutions for small business owners. We are proud to offer online accounting services which allows us to streamline workflow and increase productivity in our firm as well as with your business. This is a simplified solution for storing and exchanging documents easily and securely between clients and PacWest, and is easily accessible from a client login on our website. It allows you to scan or upload documents (receipts, bills, invoices), share files and collaborate within QuickBooks.  Our online accounting services are integrated with our Paperless Office services.

Paperless Accounting

PacWest Accounting takes pride in staying on top of technology and modifying our services to accommodate this ever changing industry.  Those days of looking for paperwork in the old metal filing cabinets are long gone!   We work with your company to implement and maintain a paperless office.  We can custom design or modify existing procedures to accommodate this great costs savings feature.  Please call us for details on how to integrate your business to a paperless office.

General Ledger & Financial Statement Preparation

One of the final steps in the accounting cycle is the preparation of the financial statements. The information from the general ledger is used to develop the income statement, statement of retained earnings, balance sheet, and statement of cash flows -- in that order. Information from the previous statement is used to develop the next statement so it important to have this information up to date and accurate.  PacWest Accounting educates its small business owners about the flow of transactions to the financials.  Having a basic understanding of these important elements of your business is vital for understanding how your business is doing, what changes need to be made and can be used as a great tool for projecting growth.

System set up for new businesses

Setting up your accounting system is an important step when starting a new business.   Having this done in the beginning will save time and money to avoid having to make correction later in the year.  We can help guide you with a system that is customized for your particular business.  We help implement accounting procedures for those clients wishing to handle their day to day accounting so that they can be confident they are doing the necessary steps to ensuring they are properly recording transactions. 

Processing Accounts Payable and Accounts Receivable

With PacWest Accounting handling your accounts receivable and accounts payable functions, you put those responsibilities in the hands of professionals. By reducing demands on you,  the business owner, you free up time to support other areas directly related to your sales, your clients, your services, your products, and your core business

Cash Flow & Budgeting Analysis

A business can be profitable but still have cash flow problems.  We can help businesses evaluate their financial condition by tracking cash flow sources and uses.  This information is important for forecasting and looking to the future.

Preparing month-end and year-end close

Have peace of mind come year-end that your financials are in order and ready for tax filing.  Having your books up to date allows you to make sure you are not missing any valuable deductions. It is also a great time t any given time to see how you are going to end the year versus how you forecasted for year. Have you achieved all you thought you would or did you fall short? What were the reasons why you might not have ended the year how you thought? What can you do a little differently for next year's planning? 

QuickBooks

Whether your business has been up and running for 10 years or you are just starting out, we will work closely with you to help customize QuickBooks for your unique needs. QuickBooks has become the standard for small business accounting software. It is a great tool for all of your bookkeeping and payroll needs. We offer an assortment of QuickBooks services.  Whether it is basic installation to full service and support services, we will take the time to assess what will be the best fit for your business and make certain we answer all your questions and teach you tricks and shortcuts for your company’s maximum results.

Clean-up and organizing

Do you have all of your receipts in shoe boxes and in your car?  PacWest Accounting can work with you to get your business transactions into QuickBooks and design accounting procedures to make the accounting function of your business organized going forward

New Business Formation

Starting a business is such an exciting time.  It also can be a stressful time making sure you are completing all steps necessary to ensure success.  Our firm will guide and give you the direction you need each step of the way by helping you implement or review your existing business plan.  We can help you determine:

  • What your start-up capital needs are
  • Select the right business structure by looking at the tax advantages of choosing one structure over the other and determining your legal exposure
  • Implement an accounting system designed specifically for your business
  • Prepare a cash flow budget to help you determine how much money is needed to grow
  • File for your Federal Tax Identification Number
  • When it comes time to hiring your first employees, we can help you set up payroll and payroll tax filings with Payroll specialists we know and trust
  • Prepare and file all state and local licenses and permits needed
  • Take a look at what types of insurance you might need to make sure you are accurately covered