CALL US: (818) 827-6007
Blog
Posted by admin on April 1, 2022
To keep your business running smoothly, it's important to be up-to-date on the latest healthcare accounting regulations. One of the most important changes in recent years is Revenue Recognition. This new standard affects how healthcare providers account for revenue generated from services provided.
This blog post will discuss Revenue Recognition and how it impacts healthcare providers. We'll also provide some steps to comply with the new standard.
Posted by admin on April 1, 2022
There's no denying that owning a profitable business can be a huge challenge. But it's also an incredibly rewarding experience. When you're successfully running your own company, you get to call the shots, make decisions that affect your bottom line, and build something from the ground up. Are you curious if your business is profitable? There are a few ways to tell. This blog post will discuss five of them and the importance of accounting services to achieve a successful business.
Posted by admin on February 21, 2022
As a pharmacist, you likely have a lot of responsibilities. Adding another task to your plate might not be the best idea. Hiring a CPA can be incredibly beneficial for pharmacists and help take their businesses to the next level.
It's extremely important to have your pharmacy's finances treated by medical accounting professionals to ensure that every aspect is considered and analyzed to help make better and more efficient decisions.
In this blog, you'll find some reasons that'll show you how important it is for you to hire a CPA to handle your pharmacy's finances.
Posted by admin on February 21, 2022
When you dedicate yourself to the world of medicine and saving lives, handling your taxes might not be your top priority. Between long hours at work, seeing patients, and completing paperwork, there's not always a lot of time for tax planning. However, if you're not proactive about your taxes, you could be leaving money on the table.
This blog post will discuss why physicians should do tax planning and how hiring a professional tax preparer helps.
Posted by admin on February 21, 2022
Are you struggling to keep up with bookkeeping and other administrative tasks? If so, consider outsourcing your bookkeeping services. By outsourcing this work to a reputable company, you can focus on your practice and leave the financial record-keeping to the experts.
Bookkeeping services can save you time and money and ensure that your books are always in order. In this blog, you’ll find the reason why you should hire a bookkeeper for your clinic in Los Angeles, CA.
Posted by admin on February 21, 2022
How rusty are your accounting skills? Probably a lot since you barely remember taking a course during freshman year. However, now that you’ve decided to establish your dentist office, the accounting will become a necessary part of your everyday life if you want your business to excel.
Accounting is the process of recording, classifying, and summarizing financial transactions to provide useful information in making business decisions. By understanding it, dentists can make informed decisions about their finances and practices.
If you’re beginning to run your dental clinic, here are some accounting challenges you should keep an eye on.
Posted by admin on July 27, 2021
There are many types of accounting and tax professionals, like public accountants and certified public accountants. While the names might get confusing, and sometimes their functions might overlap, many differences are important to understand to better gauge which services are right for you.
Usually, a certified public accountant, or CPA for short, goes through a specific educational program and a grueling exam that greatly prepares them for the tasks they’ll be working on. Also, a CPA is allowed to perform certain tasks that accountants are legally not allowed to do.
There are many more differences between a CPA and a public accountant. That’s why we’ll go over most of them to help you understand what the best choice is for you!
Posted by admin on July 27, 2021
As a business owner, it’s pretty difficult to understand when’s the right time to give out the reins of your accounting responsibilities to a third party. Still, sometimes it’s best to do just that. Accounting services are a very important part of any business since they help you and your business make more financially sound decisions.
While you might go at it alone for a while, it’s good to understand that hiring a third party can be very beneficial because they have more experience in the subject and because having an external “eye” will help when making difficult financial decisions.
There are many accounting services available for you. Still, it’s important to understand their differences to gauge what’s best for you and your business. Two of the most common options are accountants and CPAs.
Up next, we’ll go over both of them to explain why most of the time, a certified public accountant is the best option for businesses looking for accounting services.
Posted by admin
If you’re a business owner, you’ve probably asked yourself a lot of times whether you actually need an accountant. You’re smart, savvy, and pretty sharp when it comes to numbers, so it makes sense to take your business accounting by yourself, right? Well… it’s not as easy as that!
Let’s just be completely honest: every business needs an accountant. Now, while you might be a little bit skeptical at the moment, after reading this article, you’ll be convinced that this is the right choice.
Posted by admin
Self-employment can be really liberating. You’re your own boss, and you have complete control over how things are run in your business. But, as they say, with big power comes great responsibility!
That holds true to self-employment, where you’ll be in charge of all financial, legal, and governmental business requirements related to your work and payments, like documenting financial transactions and filing tax documents.
A personal accountant can really help you out by taking care of these procedures. At the same time, you focus on more revenue-generating aspects of your business! Not only that but there are many more reasons you should consider working with a personal accountant. Up next, we’ll go over some of the most relevant!
Posted by admin on September 2021
Accounting is one of the most important aspects you need to understand to keep track of your business income and expenses. Accounting is necessary whether you are just starting your company or have more than 10 years on the market.
Many small and medium businesses tend to struggle to manage and organize their finances. Accounting can be a tricky subject for many business owners. Understanding exactly what each accounting service differentiates from each other and which one is ideal to meet their needs can be confusing.
Posted by admin on September 2021
Everyone knows that accounting services are a fundamental element of every business. Accounting plays an important role because it helps businesses keep track of their income and expenses. Accounting helps explain how your business works in numbers.
Like in any other profession, accounting has rules that need to be followed and applied. There are three golden rules that every accountant must know and follow. Something to keep in mind is that accounting companies or Certified Public Accountants (CPA) should know about these rules, as well as business owners to ensure their accountant is trustworthy.
Before knowing the three golden rules of accounting, you must know that each rule applies to different accounts in accounting. Now let’s take a look at the rules:
Posted by admin on September 2021
Many people know that accountants are needed in a company. Whether you are a small business that is growing or a firm that has been in the business for more than 10 years, accountants are a must in their business management.
However, many business owners fail to hire accountants because they think it's not necessary for them. Finance is an essential part of the company’s business cycle. This helps managers and owners keep track of the business growth or how much they are losing.
Here are 5 reasons you should hire accounting services:
Posted by admin on September 2021
Now that you are considering hiring an accounting company, you might be wondering what services I should hire for my business. Do I need only one service, or should I have multiple services? What comes next?
There are 4 main accounting services every business should have
Posted by admin on September 2021
Now that you are considering hiring an accounting company, you might be wondering what services I should hire for my business. Do I need only one service, or should I have multiple services? What comes next?
There are 4 main accounting services every business should have
Posted by admin on 2021
Is bookkeeping and accounting the same thing? The answer is no. Many things done in these roles are the same; however, bookkeeping is a subset of accounting, which refers to recording financial transactions daily.
Bookkeeping is mainly composed of the following tasks:
Posted by admin on 2021
You've got the idea, and you've got the funding. Now it's time to start running your business the best way you can! Most of the challenges of managing a business are to do the little things right. You probably want to focus on areas that give you quick results and gains, such as sales, but the truth is that if you don't focus on details, your business might not even reach 5 years in the market.
In this piece, we will focus on giving you the fundamental steps to start a new business and make it through every challenge and last long.
Posted by admin on 2021
Accounting is not only reserved for business owners and the financial department; business managers should also understand the basics of accounting to interpret financial statements and make key decisions. Keep in mind that financial control leads to business success, and a manager with poor accounting knowledge may not be able to contribute when their company faces a financial crisis.
Companies commonly provide their leaders with proper training. However, in the past years, it has been proven that understanding financial statements can have a big impact on the business’ health. Every manager should know and understand the following accounting information to avoid any financial loss from happening:
Posted by admin on October 2021
When you are running a business, there is so much to think about. You have payroll, taxes, insurances. It can be hard to keep up with it all. For these reasons, so many business owners hire an accountant to help with bookkeeping and to also provide peace of mind in knowing that everything is being taken care of properly.
Accountants are trained professionals who work with businesses and individuals alike to ensure they stay on top of their finances for maximum benefit. They help keep track of all financial transactions by ensuring the books are balanced at the end of each month.
Also, they can advise on how much money should go into certain accounts or what investments would be best for your company to grow.
Posted by admin
Medical accounting is an important part of the medical field. It can help ensure that practices follow all regulations and laws to keep their doors open and running smoothly.
Medical organizations often need medical accounting to ensure they have the appropriate documentation for every expense, including insurance verification, filing taxes, tracking reimbursements from patients or third parties, and many other tasks that the practice will encounter in a given month.
In this blog, we will describe which practices can benefit from medical accounting and how they do it.
Posted by admin
Currently, there are more than 5 types of accounting approaches. The use and understanding of each one are effective depending on the goal and industry you're working in.
Healthcare organizations have a unique set of financial needs and challenges. So, what's the best type of accounting service for healthcare? Cost accounting is the most effective way to manage finances in a healthcare setting.
This post will explain why cost accounting is such an important tool for healthcare organizations and how it can help you improve your bottom line.
Posted by admin
Accounting is necessary for any business to succeed, but it is even more important in the medical field. At first glance, accounting may not seem like an important part of healthcare or medicine because it doesn't directly impact patient care. It revolves around the management of finances, resources, and data to ensure that everything is running smoothly. But, efficient accounting knowledge can improve a hospital or clinic’s ability to care for its patients.
Keep reading to learn more about why accounting is necessary in medicine and healthcare.
Posted by admin December 2021
Documenting medical expenses is important for any organization, but it's essential when healthcare organizations are involved. The complex system of rules and regulations surrounding HIPAA (Health Insurance Portability and Accountability Act) compliance can be difficult to understand, especially if you're not familiar with the industry.
To help ease this burden, let's look at why medical accounting services are important for your healthcare organization.
Posted by admin
The healthcare industry is not only related to medicine, and taking care of patients. Accountants are really necessary in the healthcare industry to make healthcare facilities productive. There are a number of roles that accountants can play within the healthcare sector, including but not limited to: financial analyst, controller, director of finance, and chief financial officer.
Hiring an accountant to work in a healthcare facility has many benefits, such as making daily processes easier and more efficient. Keep reading to learn more about why it is important to work with medical accountants.
Posted by admin
Are you or your business needing assistance with financial planning? Roberts Accounting is a team that focuses on providing financial assistance to businesses to improve tax strategies and help you come up with the right plan for your personal finances.
Posted by admin
Hospitals and healthcare facilities have a variety of expenses, just like any other traditional business. From the healthcare equipment to the staff salaries, healthcare businesses have a lot of costs they need to take care of each month.
In this blog post, there will be mentioned some of those major expenses that healthcare providers need to keep in mind when making decisions about their company's future.
Posted by admin on December, 2021
While physicians focus on saving lives and improving their patients’ health, they don’t have any time to be handling billing, payments, and taxes. Thankfully, medical or healthcare accounting exists to make life easier for those that own or run a hospital, clinic, or any other healthcare facility.
From a financial perspective, the healthcare industry can be complex. As the market expands and technologies evolve, consumers expect greater financial transparency from their healthcare organizations.
In this blog, we’ll discuss the basic information you need to know about medical accounting.