Accounting, Bookkeeping, Payroll, Taxes and Business Management Services

Quantum Accounting Tax Group is a Riverside County, Orange county firm serving clients throughout Southern California that provides a wide variety of business accounting, bookkeeping, tax preparation and financial management services.

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When you choose Quantum Accounting Tax Group, you can benefit from our very best acumen and thinking...

Did you know? Helpful tax information you can't ignore...

A company can have a profit but not have cash because profit is computed using revenues and expenses, which are different from the company's cash receipts and cash disbursements. In other words, there is a difference between revenues and receipts. There is also a difference between expenses and expenditures.

Let's assume that a company "A" uses the accrual method of accounting. It provides $25,000 of services to its clients in its first month and the clients can pay in 30 days. The company will have $25,000 of revenues in its first month, but the cash have not received until the second month. If the company's expenses are $14,000 in the first month, the company will report a profit of $11,000 but will not have received any cash from its clients.

Another example is company "B" might have a profit of $60,000 in its first year, but during it's first year it uses $65,000 of cash to acquire equipment that will be put into service at the beginning of the second year. This company will have a profit, but will not have the cash.

services & locations

Quantum Accounting Tax Group provides a wide variety of business accounting, bookkeeping, tax preparation and financial management services. Serving clients throughout Southern California, including but not limited to Riverside, California, the greater Inland Empire, Orange County and San Bernardino County areas. Our clients are located in the cities of Riverside, Corona, Chino Hills, Temecula, Lake Elsinore, San Bernardino County, Inland empire, Anaheim, Aliso Viejo, Buena Park, Fullerton, Costa Mesa, Garden Grove, Irvine, Tustin, Santa Ana, Orange, Lake Forest, Laguna Hills, San Juan Capistrano, San Clemente, Yorba Linda and surrounding cities in Los Angeles County, Long Beach, Sherman Oaks, Woodland Hills and more...