Bookkeeping in Los Angeles
MangoBooks provides monthly bookkeeping for small businesses in Los Angeles. Each month we deliver a profit and loss statement and a balance sheet, so the books are ready for payroll, tax planning and the business tax return.
For businesses that have fallen behind, we also do catch-up bookkeeping: we bring the books current for the months or years that were missed, then continue monthly.
What's Included
- Recording and categorizing each month's transactions from bank, credit card and payment accounts.
- Reconciling every bank and credit card account to its statement.
- A monthly close with a profit and loss statement and a balance sheet.
- Tracking owner contributions, draws and distributions separately from business expenses.
- Year-to-date contractor payment totals for Form 1099-NEC. Starting with payments made in 2026, the form is required when a contractor is paid $2,000 or more in a year, and the IRS may adjust that amount for inflation from 2027.
- Year-end books that are ready for the business return, including the balance sheet the return reports.
- Catch-up bookkeeping for past months or years, followed by regular monthly work.
Who This Is For
- Small businesses that want a CPA to keep the books and deliver monthly statements. See Small Businesses and Their Owners.
- Owners of S corporations and partnerships whose books feed the business return and each owner's K-1.
- Businesses that are months or years behind and need the books brought current before a tax return or a loan application.
How It Works
- Consultation. We talk by phone or video about the business, its accounts, how the books are kept today and how far behind they are, if at all.
- Engagement letter. We send a written engagement letter that sets out the monthly scope, any catch-up period and the fee before work begins.
- Document exchange. You send bank, credit card and loan statements and other records electronically.
- Catch-up, if needed. We bring past periods current and reconcile each account to its statements.
- Monthly close and reports. Each month we record and reconcile the month's activity, send questions about anything we cannot categorize, and deliver the profit and loss statement and balance sheet.
- Year end. The closed books go to the business tax return, whether we prepare it or another preparer does.
What to Bring
- Bank, credit card and loan statements for the period we are taking on.
- Access to your current bookkeeping records or files, if any exist.
- Payroll reports, if you have employees.
- A list of contractors paid during the year.
- Last year's business tax return.
- Receipts or notes for unusual transactions, such as equipment purchases or owner loans.
The full list is in our New Client Checklist.
Key Dates
- January 31. Form 1099-NEC is due to the IRS and to each contractor for payments made in the prior year. For 2026 payments the date is February 1, 2027, because January 31 falls on a Sunday.
- March 15. S corporation and partnership returns are due for calendar-year businesses, federal and California, so the books should be closed before then.
- April 15. C corporation returns and sole proprietors' individual returns are due for calendar-year filers.
- Estimated payments. Federal estimates are due April 15, June 15, September 15 and January 15, and California estimates April 15, June 15 and January 15. Up-to-date books make both easier to calculate.
Fees
| Service | Typical range |
|---|---|
| Monthly bookkeeping | $650–$1,400 per month |
| Catch-up bookkeeping | from $1,500 |
Factors affecting fees: the number of bank, credit card and payment accounts, the number of transactions each month, whether the business has payroll, and, for catch-up work, how many months are behind and how complete the records are. Fees depend on the scope of work and are set out in a written engagement letter before work begins. See the Fee Guide.
Frequently Asked Questions
What reports come with monthly bookkeeping?
A profit and loss statement and a balance sheet for the month, prepared after the bank and credit card accounts are reconciled. We also send any questions about transactions we could not categorize from the records.
Can you bring books current when they are behind?
Yes. Catch-up bookkeeping brings the books current for the months or years that were not kept, and monthly bookkeeping can continue from there. Catch-up work starts from $1,500, depending on how many months are involved and the volume of transactions.
Does the business need its own bank account?
For an S corporation, California requires a separate bank account and separate records. For any business, keeping business and personal spending in separate accounts makes the books and the tax return simpler to prepare.
How long should business records be kept?
The IRS generally advises keeping records that support a return for three years, and employment tax records for at least four years after the tax is due or paid, whichever is later.
Is the tax return included in bookkeeping?
Bookkeeping and tax returns are separate services with separate fees. When we keep the books, the year-end figures carry directly into the business return, which we can prepare under the same engagement letter.
Schedule a Consultation
Call (213) 255-4665 or send us a short message about your situation.
Please do not include Social Security numbers, bank account numbers or tax documents in the form.