L.A. Financial Management

When was the last time you struggled with a business decision? Believe me, I understand. When you’re a healthcare consultant, your focus is on your client, their needs and often, the time remaining on your contract. ... When it comes to running your healthcare consulting business, working with an expert CPA that understands the intricacies of the healthcare consulting industry can help you figure out where you might be making costly financial mistakes. Does it feel like a little bit of weight is lifted off your shoulders to know that there is someone like me that can help you behind the scenes? DM or comment below to connect on a call. Know another healthcare consultant who needs this same reassurance? Tag them in the comments. :)

Can I tell you a story? I think you might be able to relate. I spent years working as a financial consultant and CPA for clients in all kinds of different industries. But along the way, I realized that I could be so much more impactful if I got more intentional about who I was serving. ... That decision changed my career and the rest is history. Now, my team and I work specifically with healthcare consultants all over the U.S., helping them leverage their businesses to create lasting wealth for themselves and their families. We've learned a lot about the unique challenges you face as a healthcare consultant, and we’ve become experts in specialized accounting and tax strategies that can help you increase profits, save big on taxes, and make more while working less. I would love to connect with you, answer any questions you might have, and talk about how I am able to help you reach your financial freedom goals for your family. DM or comment below to book a call with me. I can’t wait to meet you. :)

Good news! Though keep in mind interest continues to accrue! https://www.journalofaccountancy.com//sba-loans-eidl-payme

1. Outsource your AR and collections processes. One of our clients utilizes TADS tuition system. It’s a cost-effective system that handles collections and invoicing. It implements standard late fees. We like this because it takes the feelings and emotions out of collections. We often find that when clients outsource AR and collections to us or any third party they have less aged receivables. Create a process and system that executives approve of but then leave them out of... the actual process. 2. Utilize services that process electronic payments. When you send invoices via a service like Bill.com or Quickbooks, your client can simply click on the link and pay the invoice, reducing the amount of time it takes for the payment to get from the client to your bank account. In times of COVID and issues with US Mail, this is the best way to get your payments on time. Yes, these applications come with fees, but consider it the cost of doing business and the amount of time you save by not having to deal with the mail and paper checks. 3. Put it in your contract. From the invoicing process to due dates, all invoicing terms, AP contact info, how payment is accepted, to specific late fees, should all be in your contract from the start. Default on any part of the contract gives you a leg to stand on when things start to get messy. #asklafm #tipsandtricks #lafinancialmanagement #finance #financialmanagement #accountingsupport #outsourcedcfo #businessresources #accountingdepartment

Have you met our president & founder, Lara? Lara, president, began her career in Los Angeles at Ernst & Young, LLP in assurance and advisory services. After obtaining her CPA, she held various positions in financial compliance and business development. In 2016, Lara founded L.A. Financial Management and began providing outsourced accounting and strategic planning services to mission-driven businesses and non-profit organizations. Her passion exists in supporting organizations and their stakeholders in achieving their goals and watching their visions take hold. Lara is married to her husband, Alex, and they have two sons, Adam and Andrew. During her spare time, she enjoys making healthy and nutritious meals for her family. #internationalwomensweek

In continuing our celebration of women everywhere, meet Armine! Armine, coordinator and bookkeeper, began her career at InecoBank in Yerevan, Armenia as a bank teller. Later, she moved between bookkeeping and retail management jobs before and after coming to the U.S. in 2016. While starting a family, she took on various bookkeeping jobs before starting with L.A. Financial Management in 2019. She enjoys helping her clients become more financially sound, so they know where their businesses stand each month. She is also a Certified QuickBooks Online ProAdvisor. Armine is a proud mommy to her daughter, Mia. #internationalwomensweek

It's International Women's Week! We are incredibly proud to be part of representing women everywhere and sharing in their accomplishments. This week, we're highlighting our team members within L.A. Financial Management. We are so proud of them! Meet, Wendy! Wendy, analyst, began her career at J. Walter Thompson in Los Angeles as a media buyer. She held various positions in business services as an administrator, an entrepreneur, and a stay-at-home mom before joining the team a...t L.A. Financial Management in 2018. As an analyst, she enjoys preparing financial reports and analyses for her clients so that they can see where their businesses are succeeding and recommend actionable steps that they can take to be more successful. Wendy is a Southern Californian native, a wife, and mother of two children. #internationalwomensweek

Financial benchmarks are essential for every organization. They help to determine the health of the organization, guide setting goals and identify areas of opportunity and risk. As you can imagine, each organization and its industry are unique, and nonprofit entities are no exception. It’s important to re-evaluate the benchmarks you’ve set for your school each year to make sure they still make sense. Read more here: https://bit.ly/37ZLths

We love getting feedback from our clients, but these types of notes give us all the feels! They are great reminders that the work we do for our clients make big impacts! Here’s the breakdown: -We supported our client with their annual audit. They went from 14 audit adjustments in the prior fiscal year to just 1 in the current year. ... -During this same year, we transitioned the client to QBO from AccountEdge. -We set up bill.com and helped the client prevent issuing erroneous vendor payments and saved them time and money. They were ready for virtual AP processing before stay-at-home orders were issued. -We also were drivers in getting the audit completed 4 months sooner as compared to the prior year! We’d love to help you streamline your process, prepare for audits, and take the burden of financial planning off your shoulders! #clientlove #lafinancialmanagement #businessfinance #finance #businessaccounting #outsourcedcfo #businessresources #accountdepartment #businessfinance #finance #accounting #bookkeepinghelp #businesspassion

We had the opportunity to do a brief interview with Lara Azoy, President & Founder of L.A. Financial Management. She is looking forward to 2021 as much as we are! You can read her full interview on the L.A. Financial Management blog! Q: We are already finding ourselves in Q1 of 2021! What are you most looking forward to in the coming year? A: I’m excited about the comeback! People and businesses are ready to get moving again. Ideas have been stirring, culture has been changi...ng and I believe that we will come out of 2020 with increased efficiencies, better use of and improved technologies, and I think we will work to improve personal privacy and use social media for our betterment versus our destruction. I am hope-FULL! #positivethinking #lafinancialmanagement #financialmanagement #accountingsupport #interview #businessfinance #finance #businessaccounting

This guy had the right pandemic attitude! He says, I’m prepared to go forward with it. Always be prepared no matter what life throws at you. Channeling our mantra of just keep going... if you can’t laugh at yourself... https://www.buzzfeednews.com//salvad/cat-lawyer-zoom-court

Be prepared even if you don’t know where the path leads. You might surprise yourself. #mlk #theunknown #dowhatsbest #moveforward #continueon #strategicplanning #financestrategy #makeaplan

It's Small Business Saturday, but we encourage you to show your local small businesses some love beyond just a day in November. Here are some simple ways you can support your local businesses over the upcoming year: 1. Shop at local boutiques for holiday gifts (plan for curbside pick-up or check their websites for online purchasing; you may not need to even leave your house)! 2. Purchase your December holiday sides or desserts from local restaurants (and give yourself a break...)! 3. Leave them a review of your experience with them on Google & Facebook. It's free, and not only will it really help their business, but it will also make them feel good, too!

As we enter into 2021, we asked the people behind L.A. Financial Management to reflect on the year. Their wisdom and perspective on the year is incredible. We hope you enjoy as much as we have. Q: What did you learn from 2020? Wendy: The most important lesson I learned in 2020 is that the only thing that is certain is the present. No matter how much we plan and prepare for our future, we never know exactly what that will look like. So, while it is important to think about t...he future and make decisions that will make that future the best it can be, it is even more important that we enjoy the present, recognize our blessings, and make sure our loved ones know how much we love and appreciate them. Q: Working with your clients throughout the year, what were your takeaways? Wendy: While working with our clients, I witnessed the resilience of the human spirit. Our clients embraced the changes that were laid before them. They did whatever they could to accommodate their employees and help them to be productive in their changing work environments. Our clients adapted to change and continued to grow by reimagining how their business model could thrive in these uncertain times.

Happy Thanksgiving from all of us at L.A. Financial Management!

As you may have noticed, many banks are starting to accept PPP loan forgiveness applications. Have you started filling yours out? What are your top questions?

Wishing you and your family a safe and happy Halloween!

#WednesdayWisdom: Did you know that 59% of businesses use outsourcing to reduce their expenses? Outsourcing key departments like accounting not only save companies a lot of money but also help to significantly reduce stress. We'd love to partner with you to handle your company's finances. #reducestress #outsourcedaccounting #lafinancialmanagement #accounting #consulting #finance #CFO #bookkeeping #smallbusinessaccounting #nonprofitaccounting #business

Armine doesn't just do awesome work for our clients; she is also an excellent baker! We are excited that she is sharing one of her favorite recipes with us for #nationaldessertmonth! Pastry Ingredients 1 cup whole milk 8 tbsp unsalted butter... 1/4 tsp salt 1 cup all-purpose flour 4 large eggs or 5 small ones In a medium saucepan, combine 1 cup water/milk, 8 tbsp butter, and 1/4 tsp salt. Bring to a boil over medium heat and then stir in 1 cup flour all at once with a wooden spoon. Once the flour is incorporated and the dough comes together into a smooth ball and a thin film forms on the bottom of the pan, transfer to a large mixing bowl and beat using an electric hand mixer on medium speed for 1 minute to cool the mixture slightly. Add 4 eggs, 1 at a time, allowing each egg to fully incorporate between additions. Beat until dough is smooth and forms a thick ribbon when pulled up. Place 1 tbsp of dough over baking sheet keeping them 1 1/2" apart. Bake at 400 degrees F for 25-30 minutes. While baking, prepare your cream. Pastry Cream Ingredients 2 cups whole milk 1.5 cups of granulated sugar 3-4 tbsp. all-purpose flour 1 tsp vanilla extract 6-7 tbsp. unsalted butter In a medium saucepan combine together 1.5 cup sugar and 3 tbsp. flour. Add 2 cups of milk and bring to a boil over medium heat, whisking constantly (this is important to whisk from the very beginning to make sure that all of it is incorporated). Whisk another 30 seconds until mixture is thick and a pudding-like inconsistency. Remove from heat and add 1 tsp vanilla extract and 6-7 tbsp butter. Quickly whisk into the custard until fully incorporated. Let the cream cool. With a small pastry tip, poke 2-3 holes through the bottom or top of each cooled pastry. Pipe cream inside, scraping off excess. Enjoy!

Wendy: Clients can separate their business and personal finances. Co-mingling the two often leads to more work down the road. Have a credit card that is used solely for business. It helps to better track your expenses. Did you know you can get your top finance questions answered by our team? Visit our Instagram page and submit your questions! #askusanything #financialquestions #Q&A #accounting #consulting #finance #CFO #bookkeeping #smallbusinessaccounting #nonprofitaccounting #business

It's breast cancer awareness month, and we wanted to share some resources with you. Did you know that 1 in 8 women will be diagnosed with breast cancer at some point in their lives? The good news is that, when detected early, it can usually be successfully treated! Here are some resources from the National Breast Cancer Foundation we encourage you to read: 3 Steps to Early Detection Guide: https://bit.ly/2GGLLPv Healthy Living & Personal Risk Guide: https://bit.ly/2GBqS8v N...ational Mammography Program: https://bit.ly/3lclnMw #breastcancerawareness

We are loving Donorbox nonprofit resources & tips page! Check out some of their tips for web integrations, social media ideas, grant proposal ideas, and more! https://bit.ly/2GzwYGS

We are excited that Lara Azoy, L.A.Financial Management's Founder and President, was recently highlighted in Shoutout LA! Read more here: https://bit.ly/3iyRFzF

What are your latest business finance questions? Check out our latest story on Instagram and submit your questions for our team! #askusanything #FAQ #smallbusinesstips #smallbusinesssupport #nonprofitaccounting #lafinancialmanagement #CFO #accounting #bookkeeping #smallbusinessaccounting

We recently asked our team what their favorite quotes/sayings were. This one came up as a favorite. What sayings keep going and motivate you to always reach farther?

Meetings look a little different these days, but it doesn't mean you can't still come together and collaborate! We enjoyed our latest marketing team meeting! How are you staying connected with your team and your clients?

How can we help you grow?

We are so proud of our team!

1. Meetup: With Meetup, you can search for events by topics (and online events are clearly marked). There is everything from career & business (you can get granular with your searches) to learning & tech! 2. Facebook Events: You can log in and see virtual events happening now, or you can browse by topics or day/times. 3. Eventbrite: Check out virtual events recommended for you, or browse topics that interest you. 4. Your own network: Promote and schedule your own Zoom networking meeting with local members of your community or others in your industry!