Business Services in Beverly Hills
Solid accounting and financial guidance are the foundation of a strong, healthy business. At Cory Franklin & Associates, Inc., our experienced accountants deliver the assistance, and insight your Beverly Hills business needs to thrive.
Our complete suite of business services makes it easy to manage accounting, bookkeeping, long-term financial strategy, and multi-state business growth. We work with companies in a wide range of industries and are proud to be friendly to LGBT-owned businesses. We will support you every step of the way to meet your business goals!
Our skilled financial professionals, Cory R. Franklin, CPA and Mark D. Esperti, CRTP, are excited to put their expertise to work for your company or practice. No matter where you are in your business journey, you can rest assured your financial documentation is in the hands of a recognized leader in the field.
With expertise in a wide range of industries, we have what it takes to help you excel and reach your full potential. We take the time to learn about your company, team, and vision, so all of our services are custom-tailored to you.
We've worked hand-in-hand with countless businesses from these thriving industries:
Dentists - Sound financial planning helps dentists be more competitive even in crowded markets. We will help you plug the gaps in your financial strategy and drive costs down. Strong foundations make it simpler to achieve robust reinvestment in your business so you can truly thrive.
Entertainment & Creatives - In entertainment, you're often faced with a tough accounting landscape. No matter the nature of your project or how many states it reaches, we can assist you. We eliminate bookkeeping errors and streamline filings so you can stay within budget more effectively.
Healthcare - Providing advanced services in the healthcare industry often revolves around long-range financial plans. Our accounting and bookkeeping services empower you with the rigorous financial discipline you need to acquire capital equipment or expand your facilities.
Marriage & Family Therapists - Whether you are self-employed or work within a joint practice, the accounting landscape for therapists can be quite murky. Our team is skilled in uncovering opportunities that allow your revenue to go further. In the long run, that's essential to serving more clients.
LGBT-Owned Businesses - According to the latest statistics, LGBT-owned businesses add about $1.7 trillion to the economy and provide 33,000 jobs. Even if your enterprise doesn't fall within the scope of one of the industries on this list, we will work with you to develop financial plans that really work.
Hospitality - Hospitality can present complex bookkeeping challenges not often faced in other industries. You have more costs to keep track of across more categories and may have a complex blended workforce. Our "deep dive" approach optimizes your business for enduring success.
Law Firms - As a legal professional, you understand better than perhaps anyone else the value of regulatory compliance. An accounting or bookkeeping issue can damage your hard-earned reputation, even if it has nothing to do with your legal services. We help you ensure complete compliance.
Real Estate - Whether you're a real estate agent, a landlord, or a short-term property investor, real estate is full of opportunities - but it's also full of accounting pitfalls. We make sure your financial plan is completely aligned with the unique realities of real estate accounting and bookkeeping.
Small Business Accounting
Accounting is the science of maintaining accurate and timely financial records and using that data to make sound decisions for overall business strategy. A skilled accountant allows you to project future financial performance, reduce costs, and maintain tax compliance.
Small business accounting can be complicated. It takes a deep understanding of the industry, the legal landscape, and the principal's goals. Empowered with financial analysis from an expert, however, you'll be able to make decisions that chart your course to success.
Benefits of Small Business Accounting
There are many key benefits to small business accounting:
- Save hundreds of hours a year on maintaining and verifying your financial records.
- Protect yourself against costly mistakes and oversights common to DIY accounting.
- Fully understand your company's past and probable future financial performance.
- Make more effective strategic decisions backed by advice from a trusted expert.
- Save money by stopping financial "leaks" and preparing completely for taxes.
All in all, the biggest benefit of small business accounting is peace of mind. As a business owner, you already wear many hats. There's no need to reinvent the wheel on accounting and try to do it all yourself. Your interests are protected when your books are in experienced hands.
Why Choose a CPA?
A Certified Public Accountant (CPA) is a financial adviser who has attained the highest level of formal training in the industry. The title "CPA" represents a gold standard in both accounting skills and ethics. Only a tiny fraction of accounting professionals reach this level.
Standards for a CPA are defined at the state level. They include in-depth education and work experience requirements. Each aspiring CPA must complete four rigorous examinations widely understood to be among the most challenging professional tests. If they fail one, they fail all.
What's more, a CPA designation is not a "one and done deal." CPAs must perform a full slate of continuing education credits, usually around 40 hours each year.
A CPA trains diligently to ensure he or she can deliver you the highest quality of service. When you trust your accounting to a CPA, you can truly rely on world-class accuracy and transparency.
Dynamic Bookkeeping to Empower Your Business
Bookkeeping is the process of recording all the financial transactions impacting a business. That includes revenue, sales, and expenses. Good bookkeeping should give you a comprehensive view of how your accounts payable and accounts receivable are influencing your financial picture.
Bookkeeping is only one element of accounting as a whole. For many business leaders, however, it is the most important in the short term. It ensures you can make the most of your financial resources and move forward with full confidence about current plans.
Expert QuickBooks Assistance
QuickBooks is one of the most popular accounting software packages in the United States. Most versions of QuickBooks are optimized for small business accounting. With a variety of simple reports, the software lets you understand your situation at a glance.
QuickBooks allows you to track expenses, payroll, invoicing, and mileage in one convenient place. If you already use QuickBooks, our team will be glad to help you get more value from it. Our CRTP Mark is a QuickBooks Certified ProAdvisor, who can help you tailor your experience and optimize it to the needs of your business.
It's not always easy to figure out all the features of a new software package. We can help you establish your software and customize it to your business so that you have everything you need from day one. With help from our knowledgeable staff, you'll get clear, immediate answers to all of your questions.
Even if you have QuickBooks already, many businesses are unaware of some of the helpful features the software offers that could make a real difference for your daily & weekly efficiency. Training from a ProAdvisor can be a great way to get a whole team up to speed at once. We'll work with your employees to help them take advantage of opportunities in the program and really help your business thrive. With our capabilities, we offer training both in-house or remote via screen sharing to accommodate your business needs.
QuickBooks Remote Access
Already set up on QuickBooks? Our CPAs can provide a completely hands-off experience with remote access. We verify your QuickBooks configuration and then perform all key bookkeeping tasks for you. You can instantly check your results right from your QuickBooks interface.
Part-Time CFO Services to Propel Long-Term Growth
For large organizations, a Chief Financial Officer (CFO) is a key member of the executive team. Small and mid-sized enterprises can get this same in-demand skillset on an as-needed basis.
With our team, You'll have all the benefits of a CFO at a fraction of the price. Your CFO services are personalized to your business needs. Services often include:
Monthly Bill Pay - Ensuring the bills are paid on time is the first responsibility of businesses and individuals alike. As businesses acquire more financial obligations, however, things are easily overlooked. We ensure your monthly bills are paid, and your expenses are tracked.
Project Budgets - Have a major project in mind? A budget is a vital element in getting the ROI you expect. Our experience in financial strategy allows us to accurately price materials, equipment, contract workforce, technology, and other elements of your project while saving money. Even if you're looking to optimize your budget for daily, weekly, or monthly operations, you'll have continuous access to our insight and expertise.
Financial Strategy - A long-term financial strategy clears the path to get you where you need to go. Our part-time CFO can find unnecessary costs in your business, uncover accounts receivable oversights, and locate opportunities to access cash or capital at favorable rates.
New Business Formation
The decisions you make at the very start of your business will reverberate through its future. Choosing an entity affects several aspects of your business, from when and how you pay taxes to who is liable for what in your business. We can help you determine the right moves for a strong start and long-lasting financial health.
Selection and Formation
The legal formation of a business entity is an exacting process. Many of the choices made at this stage are difficult and costly to revise later on. We will help you select the right legal entity for your needs and meet all obligations in forming your new endeavor.
Incorporation and Reporting
Many jurisdictions have specific reporting requirements that recur on a quarterly or annual basis. We will equip your business to meet all reporting obligations from the start. We can advise you on the documentation needed and what information you must retain long-term.
Business Plan Development
A formal business plan is crucial to "reality checking" your business idea. It enables you to uncover potential pitfalls and plan to overcome them. It's also going to be a valuable tool when approaching potential lenders or investors. We help you draft your business plan in a way that matches your goals and expectations to the work it will take to get there. Having a CPA associated with your business at this early stage also shows investors you're a serious entrepreneur and makes you a more appealing investment.
New Business Consulting
The first two quarters of a business are essential to its life. Combining insight into finances and business operations, we'll advise you on securing your first business wins. Our goal is to ensure you go forward with momentum. We can also advise businesses in a mature growth stage.
Do you fully understand the tax benefits of your selected entity? We will inform you about the key benefits and what you need to know to align your operations for maximum effectiveness. If your tax situation changes in the future, we will be there to help you adapt.
Helping Your Business with Multi-State Tax Filings
Most successful enterprises will eventually have operations, personnel, or other resources in other states. This can be a necessity, but it adds immense complexity to all accounting practices. Cory Franklin & Associates, Inc. understands the issues you may face when it comes to filing taxes in multiple states, and we can help you manage this task efficiently and accurately, so you don't have to worry about overlooking something that could come back to haunt your business in the future.
The Importance of Accuracy in Multi-State Filings
Operating your business in multiple states naturally exposes you to legal and regulatory liability across all of those jurisdictions. Filing requirements often differ dramatically across states. Some states may even have accelerated timelines for certain kinds of filings.
With this in mind, it's critical to have a tax professional who can decipher and map out all these requirements. Although problems in one state don't always affect others, they can disrupt your operations or cash flow or leave you tied up with administrative concerns.
The longer your company's documented history of accurate filings, the easier it will be to resolve issues if an error is ever made in the future. Partnering with a CPA allows you to set up the conditions to protect your business even if state regulations become stricter later on.
The Relationship of Multi-State Filings to Accounting and Bookkeeping
Bookkeeping is central to correct multi-state filings. More than anything else, state officials look for errors and omissions in filings that should be caught during your routine bookkeeping tasks.
Bookkeeping is the biggest factor protecting any multi-state business from aggressive oversight. However, accounting lets you measure the overhead a multi-state presence adds to your business. While bookkeeping protects your business in the present, accounting is the key to its future. For multi-state enterprises and those launching in new jurisdictions, a complete CPA review is ideal.
Providing Experienced Support for Your Business
Whether your business is ready to expand into fresh waters or just getting off the ground, having expert help to organize and optimize your financial side can really empower your business. If your company or practice is looking for an accountant who knows your industry, don't hesitate! Schedule your consultation with Cory Franklin & Associates, Inc. today!