Bookkeeping And Accounting
Bookkeeping And Accounting
No matter what type of business you run—whether it’s a service, production, or merchant business—you’re bound to face financial challenges. Cash flow issues can arise even when your business looks profitable on paper, making it difficult to pay vendors, salaries, and other expenses. That’s where bookkeeping becomes essential.
A solid bookkeeping system doesn’t just show your business’s financial performance—it helps you manage cash flow effectively to keep your business running smoothly. Hiring an in-house accountant can be costly and resource-intensive, making it a less practical choice. Instead, partnering with a professional bookkeeping firm like ours ensures you get expert financial management at a fraction of the cost, allowing you to focus on growing your business.
Here’s what involve when you hire us as a bookkeeper:
Clearing Previous Backlog
We would first start with reconciling past records, correcting errors, and updating financial statements so you can gain a clear picture of your business’s actual financial health.
Setting up Chart of Accounts
We would Setup the correct chart of accounts the way it should be done so It categorizes transactions into right income, expenses, assets, liabilities, and equity, providing a clear financial overview.
Categorising Income and Expense
We wil systematically group income sources such as sales revenue, service income, and other earnings, while categorizing expenses into essential areas like payroll, rent, utilities, marketing, and cost of goods sold.
Bank Reconciliation
we will compare your bank statements with your accounting records to identify any discrepancies, missing transactions, or errors. Regular reconciliation will helps detect fraud, prevent overdrafts, and maintain accurate cash flow management.
Payroll Management
we will handle the entire payroll process, from calculating wages and deductions to ensuring timely payments and tax compliance. We streamline payroll processing, track employee benefits, and generate detailed reports.
Monthly Reporting
we will provide detailed monthly performance and financial reports to give you a clear snapshot of your revenue, expenses, profitability, and overall business performance. Our reports include key financial statements such as Profit & Loss, Balance Sheet, and Cash Flow Statements, along with Progress reports, variance analysis, and Budgets