BRIAN T. STONER, CPA  

  You can count on us to count for you!

 Award for Best Accountant in Burbank, CA by Best Businesses - 2014 and 2015







November 2, 2015

   

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Accounting Background
 
 EMAIL NOW AT  bstonercpa@sbcglobal.net
  
2600 W. Olive Ave, 5th Floor
Burbank, CA 91505
  

 
I write a BLOG  called 'MUSINGS OF A BURBANK CPA' on Financial and Tax Items I feel are worth sharing!  You can access
MY BLOG here:
 
 
 
  
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ACCOUNTING MISTAKES TO AVOID AND WAYS TO SAVE TIME
 
 Article one talks about three costly accounting mistakes and Article two has eight ways to save time. 
     
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818-333-5095 or 818-317-6035 
  
  
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Three Costly Accounting Mistakes to Avoid
 
Small business owners have a lot on their plates, and time simply does not allow you to become an expert in all the areas required for running a business.  Here are a couple of common mistakes that we see all the time.  Correcting them will help you be more productive and profitable in your business. 
 

1. Mismanaging receipts

 
Maintaining receipts are challenging for everyone, but the IRS requires that you have proof of business expenditures.  Periodically, we come across people who feel that keeping the credit card statements are enough; unfortunately, they're not.  You'll want to create a process to keep your receipts all in one place so they don't get lost. 
 
Receipts printed on thermal paper (think gas station receipts and many more) will fade within a year or two, and the bad news is the IRS could audit several years back if they come calling.  Correct this by scanning them in or taking a clear picture of them using your smartphone. 
 
Some accounting systems and/or document management applications allow you to upload the receipt and attach it to the transaction in your accounting system.  This is a great solution, and if you're interested in this, please ask us about it. 
 

2. Ignoring the accounting reports

 
There are gold nuggets in your accounting reports, but some business owners don't take the time to review them or are uncertain about how to interpret them.  Your accountant can help you understand the reports and find the gold nuggets that can help you take action toward profitability. 
 
Some of the things you can do with your reports include:
 
  • Identifying your highest selling services or products
  • Projecting cash flow so you're not caught short at payroll time
  • Getting clear on your top customers or your demographic of top customers
  • Evaluating your marketing or business development spend
  • Pointing out trends compared to prior years, budget, or seasonality effects
  • Checking up on profit margins per product or service to make sure you are priced correctly
  • Managing aging receivables or speeding up collections
  • Measuring employee profitability, if relevant
  • And so much more
 
Being proactive with your accounting will help you spot opportunities in your business that you can act on, as well as spot and correct problems long before they manifest into trouble. 
 

3. Mixing business and pleasure

 
In your bank accounts and on your credit cards, mixing business and pleasure is to be avoided when possible.  All businesses should have a separate bank account, and all business transactions should go through there.  It takes an accountant much longer to correctly book a business deposit that was deposited into a personal account. 
 
Taking out a separate credit card and putting all your business transactions on it will save your bookkeeper a ton of time.  The credit card doesn't even have to be a business credit card.  It can just be a personal credit card that's solely used for business.  If you have employees making credit card charges, sometimes a separate card for them helps you control fraud. 
 
The hardest area in which to separate business from pleasure is cash transactions.  Be sure your accountant knows about these.  The accountant can either set up a petty cash account or a reimbursement process so that you can get credit for cash expenditures that are for the business. 
 
How did you rate on these three mistakes?  Avoid these three and your accounting department as well as your business will run a lot smoother.  
 
    
 
You can count on us to count for you!
 

 

 

Issue 93

 
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BRIAN T STONER, CPA

 

   

 

 

Accounting Employment Opportunities 

 

 

Pauline Casbon of Casbon & Associates, LLC is a professional recruiter I have known for quite a while. She is very professional and can help accountants looking for work get a new position as well as find accounting professionals for business and industry.

  

 

 

Full Time Job Opportunities: Contact Pauline Casbon at
310 859 3805
 
 
 Referral fee for any potential employee that is placed in any of the following positions.     

 

  Immediate Hires!   

 

  

 

 
Tax Managers needed for Encino, Woodland Hills, West Los Angeles and Century City.  $$$ Competitive and top salary! 


 

Staff Accountant/Tax Accountant up to $80k West Los Angeles Business Management Accounting firm.


 

Account Managers for Business Management Accounting firms in West LA, Sherman Oaks and Encino. Immediate hires!


 

 

Tax Seniors for West LA, Century City, San Fernando Valley and the San Gabriel Valley, CPA firm and Business Management Accounting firm, seeking potential  employees looking for a career path!

  


 

Bookkeeper for Business Management firm in

 West Los Angeles and Beverly Hills; up to $62k 

plus great benefits for CPA firm and Business Management Accounting firm.


 

Bookkeeper for Entertainment Law Firm in Beverly Hills.  Full-Charge Bookkeeping required.  Salary up to $70k.


 

Professional Bookkeeper for CPA firm in Santa Monica. Salary up to $70k commensurate with  experience. Also, staff accounting responsibilities.  Must have experience with accrual bookkeeping.


 

Assistant Bookkeepers (2) for Woodland Hills, Sherman Oaks and West Los Angeles. Datafaction experience required. Immediate Hires!


 

Human Resource Coordinator for CPA firm in Beverly Hills. Previous experience required.


 

Office Manager for Business Management Accounting firm  in Encino.


 

Audit Seniors for CPA firm in Santa Monica, Woodland Hills and Century City.  Great career path. Competitive salary and great benefits!


 

Audit Manager, CPA for a great firm located in Pasadena and Woodland Hills. Immediate Hires!

  

 


 

Staff/Tax  Accountant for Business Management firm in Brentwood, West Los Angeles, Beverly Hills and Encino. 

 


 

Senior Accountant, Bus. Management Dept. of CPA firm in Pasadena.


 

 

Business Manager for Bus. Management Accounting firm to become a Partner.  Century City and Woodland Hills.

 

 

Business Manager for firm in Encino in the Entertainment Industry. Oversee operations, Oversee bookkeeper and/or handle books. Up to $120k.


 

 

Tax Manager. CPA with Big Four experience to work with Business Management       Accounting firm in West       Los Angeles.


 

 

Tax Accountant for Century City 1 to 2 years experience of tax preparation with a CPA firm and/or Business Management accounting firm.


 


 

 Senior Tax Manager, CPA.  Firm located in Arcadia and Pasadena.

 

 

Audit & Tax Manager, CPA for CPA firm in Van Nuys. 


 

 

Audit Senior with 2 to 4 years experience for CPA firm in Van Nuys. Candidate must be pursuing CPA certification.

 


 

Tax Partner/ Tax Senior experience with real estate syndication, West Los Angeles.

 


 

Audit Senior for a great firm located in Santa Monica, ocean views!!!

  


 

Tax Partner, Encino.  Preferably with a Book of business.


 


 Tax Manager looking for an opportunity to go to Partnership.  West Los Angeles.


 Two tax personnel in

Los Angeles, 90064.

3 to 10 years experience.

 

   

Looking for immediate hires! 
 

I am looking to expand my client base, if you would like further information regarding my staffing services, please do not hesitate to call.  I am happy to visit your office which helps me gain an even better understanding of your firm's culture and staffing requirements.

 

Call 310 859 3805 for further information.  Send resume as a word attachment to :

  

 

 

   
 
Eight Ways to Save Time You Might Not Have Thought About
 
 
  
Time is money as they say, and if you can save time, you're also saving money.  Since your time is limited to 24/7, both personal and business time saved is profitable.  Here are eight ways to save time (and money) for your consideration.  Go through all of them with an open mind, and see which one might work best for you.
 

1. The trip to the grocery store

 
If you're making several trips to the grocery store throughout the week, this one is for you.  Cut down on those trips by taking inventory of your kitchen and seeing what you'll need for the week (or longer).  Shopping once a week will save precious time throughout the week. 
 
Better yet, have your groceries delivered.  Some shops will also pick and bag your times so your selections are ready for pickup.  Even better, hire an assistant to shop for you so that your refrigerator and pantry is stocked when you get home. 
 

2. Appointment scheduling

 
Automate your appointment scheduling and you'll free up weeks of admin time for either you or your staff.  There are dozens of apps, many industry-specific that can help you save time making appointments.  Once you've set it up, send the link to the people you'll be meeting and voila, it will appear on your calendar. 
 
Here are a few to check out: 
 
  • https://acuityscheduling.com/
  • https://10to8.com/
  • https://www.flexbooker.com/
  • And so many more: Google "appointment scheduling" to find more
 
For field service companies in the home repair or maintenance industries that serve commercial and residential customers, Google "field service scheduling" to get the right software for your business. 
 

3. Office supplies

 
Order your supplies online and have them delivered. 
 

4. Email interruptions

 
Turn off automatic send and receive in your email software to get rid of that nasty interruption.  Mark your calendar to check and answer your email three to four times a day.  You'll go home happier and feeling more in control of your work with this one change. 
 

5. The commute

 
If you can manage it, working from home one to two days a week can save you commute time.  You may also be able to avoid rush hour by altering your work hours if you have some flexibility.  After all, it's your business. 
 

6. Those errands

 
Batching your errands all into one day will save precious start and stop time on your other work days.  Better yet, choose one day a week for outside errands and personal appointments so that you can get into the habit of this for the long term. 
 

7. Takeout

 
Do you go out for lunch every day?  You may need the break or you may need to have that power lunch with a new business partner or client.  But on days you don't, have takeout delivered so you don't have to waste time ordering and standing in line. 
 

8. The bank

 
Are you going to the bank constantly?  If so, you can avoid it in a number of ways:
 
  • Take credit cards, and have clients pay online.
  • Ask your bank about remote or mobile check deposit options.
  • Hire a company to transport your cash deposits - Google "Cash logistics" to find companies with armored car services.  It won't hurt to find out how much it costs and you might be surprised.
 
Did you get an idea on how to save time?  If so, it's your turn to implement and reap the benefits.  

 
   
  
    
 You Can Count On Us to Count For You!      
Brian T. Stoner, CPA 
2600 W. Olive Ave., 5th Floor
Burbank, CA 91505
(818) 333-5095  CELL (818) 317-6035
FAX (818) 566-1499
bstonercpa@sbcglobal.net