Accounting & Bookkeeping
First is to gain a better understanding of what we do for you…
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation. There are several standard methods of bookkeeping, to include single-entry bookkeeping, and double-entry bookkeeping systems. As a bookkeeper we are responsible for some or all of your organization's accounts, known as the general ledger. We record all transactions and post debits (costs) and credits (income). We will produce your financial statements and other reports for supervisors and managers. As you Bookkeeper we will record the day-to-day financial transactions of your business. We are responsible for writing the day-books, which contain records of purchases, sales, receipts, and payments. In addition we are responsible for ensuring that all transactions whether it is cash transaction or credit transaction are recorded in the correct day-books, supplier's ledger, customer ledger, and general ledger.
accurate financial records is very important to your business’ success. We are
committed to serving you by providing accurate and reliable information. The
reliability and timeliness of this information is crucial in helping you make
intelligent business decisions. Our services include:
- General Bookkeeping
- Accounts Receivables
- Accounts Payable
- Fixed Asset Accounting
- Financial Reporting –
- Bank Account Reconciliation
- Reconciliation and
With proper bookkeeping you can plan for year-end tax preparation; you can manage cash flow more efficiently; reduce your tax liability by forward planning; increase profits by identifying specific expense categories that need to be address; and peace of mind, knowing that you have control over each of your business’ activities. We take a lot of care in providing you with the information necessary for business’ growth and success.
Bank Account Reconciliation
Analysis and adjustment of differences between the cash balance shown on a bank statement, and the amount shown in the account holder's records. This matching process involves making allowances for checks issued but not yet presented, and for checks deposited but not yet cleared or credited.
Carefully reviewing and balancing your Bank account with your Business accounting we’re able to help you:
· Identify missing checks and deposits and discover unauthorized wire transactions.
· Spot bank charges which may be unjustified or excessive and prevent them from happening in the future.
· Make sure transactions are posted correctly.
· Protect yourself from the risk of theft or other fraudulent activity.
· Have a clear picture of the health of your business.
· Provide you with more effective cash management.
Generate accurate Income Statement
An Income Statement itemizes all of your revenues and expenses in order to show you your profit or loss during a given period. Having an accurate and current income statement gives you the ability to:
· See at a glance where you are spending too much or staying within your budget.
· See exactly where you are making money and where you are spending money in order to assess business performance.
· See where expenses are running higher than anticipated, allowing you to make corrections.
· Identify other unanticipated activities, such as product returns or sudden increases in the cost of goods.
· Calculate income tax owed.
Generate accurate Balance Sheet
Balance Sheets give a quick way to determine the health of your business at any moment, by reviewing this information you can:
· See where your business’ strengths and weaknesses lie
· Spot trends, determine their cause and come up with solutions, especially those involving accounts payable and accounts receivable.
· Make informed decisions regarding the possibility of expansion.
· Make informed decisions regarding your ability to remain flexible in the face of expansion and contraction of business.
· Determine whether you need to increase your cash reserves.
· See whether your payable's are being made in a timely way.
Clear General Ledger
The ledger provides a complete record of financial transactions over the life of the company. The ledger holds account information that is needed to prepare financial statements and includes accounts for assets, liabilities, owners' equity, revenues and expenses. Keeping a Clean General Ledger is where the most essential information about your company’s finances is recorded. If something within the ledger is incorrect, the problem will flow through the rest of the company’s financial information, so having us double check for accuracy and discover any discrepancies will ensure that bigger problems don’t develop along the way.