Bookkeeping helps businesses to keep sound and accurate financial transactions in the accounting records (the ‘books’) of the entity. Having a proper bookkeeping culture helps businesses to record transactions as and when they occur.
Proper bookkeeping helps businesses in the following regard:
- Financial statements preparation
- Budget preparation
- Tracking your debtors (accounts receivable)
- Tracking your creditors (accounts payable)
- Dealings with the tax authorities
- Understanding your operations through analysis of the financial records
All businesses irrespective of the industry needs to have these records (books) at any given point to help the business succeed:
- Sales book: for recording sales on credit (receivables) from sales invoices
- Purchases book: for recording purchases on credit from suppliers (trade payables) from purchase invoices
- Bank book(s): for recording cash, cheques, wire transfers, etc received into the business bank(s) account and the same paid out of the bank account(s)
- Petty Cashbook: for recording transactions relating to payment for small incidental expenses such as bus or taxi fares, or coffee and milk for the office
Our Bookkeeping Service Includes
We provide the below services as part of our bookkeeping service package:
- Accounts Payable
- Accounts Receivable
- Sales Recording
- Purchases Recording
- Bank Transactions Recording
- Petty Cash Transactions Recording
- Bank reconciliations
- Detailed Day Book Reporting
How does our bookkeeping service work?
1 We enter into an Agreement
- We will assign a bookkeeper of our team to your business after reaching an agreement with you. The dedicated bookkeeper will get to know your business and understand your operations.
2 We do your bookkeeping
- Your dedicated bookkeeper gathers the transactions (data) needed for the bookkeeping as and when they occur. The transactions are recorded in our accounting software immediately received from you.
3 We deliver financial records
- We provide you with accurate financial records or data as per your request.