Our Bookkeeping Services are focused on reducing our clients’ finance and accounting costs by helping them with their management, accounting, and tax preparation needs.
We provide personalised and professional online bookkeeping services to cover the entire scope of bookkeeping. We function like the client’s virtual back office for all their bookkeeping and accounting work right from set-up, support, maintenance, and consultancy with accounting: taxation, banking, ROC, legal matters, and other general insights and data for professional management.
Bookkeeping is the recording of financial transactions and is part of the process of accounting in business and other organizations.
Simply put, bookkeeping is more transactional and administrative, concerned with recording financial transactions. Where as accounting is more subjective, giving you insights into your business’s financial health based on bookkeeping information.
Transactions include purchases, sales, receipts and payments by an individual person or an organization/corporation.
The single-entry and double-entry bookkeeping systems are the two methods commonly used. While each has its own advantage and disadvantage, the business has to choose the one which is most suitable for their business.
The process of bookkeeping involves four basic steps:
1) Analyzing financial transactions and assigning them to specific accounts
2) Writing original journal entries that credit and debit the appropriate accounts
3) Posting entries to ledger accounts
4) Adjusting entries at the end of each accounting period
No, for every busy business owner, finding the time and energy to properly maintain books can be a taxing and arduous task.