Book Keeping Services
Bookkeeping services are the process of keeping records of financial transactions and preparing financial statements, such as balance sheets and income statements.
Bookkeeping service is the practice of recording and keeping track of the financial transactions of your business. The bookkeepers are required to summarize the activity of your business regularly in financial reports. These reports showcase the financial position as well as the performance of your business.
Besides maintaining financial records, bookkeeping services also include:
- preparing tax returns
- invoicing
- monitoring performance indicators
- cleaning up books of accounts
- maintaining accounts receivable and accounts payable
- reconciling financial statements with bank statements
- undertaking budgeting or cash flow analysis
- management reporting
It is the responsibility of a bookkeeper to provide accurate, up-to-date financial data so that the accountants can prepare annual financial reports as well as tax returns for your business.
Bookkeeping relates to maintaining day-to-day financial records. Bookkeepers collect financial information with the help of which financial statements or books of accounts are prepared. The primary as well as secondary bookkeeping services that a bookkeeper can provide to your business:
1. Data Entry
2. Bank Reconciliation
3. Accounts Receivables
4. Accounts Payable
5. Payroll
6. Monthly Financial Reports(Balance Sheet, Profit, and Loss Account, and Cash Flow Statement
There are innumerable benefits of taking bookkeeping services:
- Ability to Concentrate on Core Operations
- Compliance With Regulatory and Statutory Laws
- Quick Invoicing
- Access to Accounting and Bookkeeping Software
- Be Prepared for Tax Season
Get a Clear View of Your Finances
