Bookkeeping

The Bookkeeping is a vital part of any business. It helps the companies to manage their cash flow efficiently and effectively. Also, it helps the businesses plan for the future and be aware of business outcomes. While keeping the bookkeeping record, a business can predict future growth, development and required budget at a specific period. Furthermore, it helps businesses to stay in line with the tax obligation and federal tax requirement.

Our competitive company offer you a reliable and affordable bookkeeping service. We will require your bank statements, invoices and receipts, and we will do the rest for you. You can share the google drive or dropbox folder to put the bank statements and receipts on a monthly or weekly basis.

Our Services Includes

  • Setup Bookkeeping Software
  • Setup Chart of Accounts
  • Record Bank Transactions to your Bookkeeping software
  • Record Sales & Purchase invoices
  • Bank Reconciliation
  • Suppliers and Customers contact setup
  • Aged creditors/Debtors Management
  • Prepare Profit & Loss Account
  • Prepare Balance Sheet
  • Financial Dashboard

We are fully experienced to assist you in managing your company bookkeeping service. We will take care of your all bookkeeping and finance work so you will time to make business decisions and grow your business. We are very keen to grow your business because when your business grows, we also grow.

Bookkeeping for small businesses

Bookkeeping is the act of categorizing all cash inflows and outflows into different classes of accounts and entering them in the general journal. The general journal records, chronologically and continuously, all the company’s economic operations during a period often called exercise. Making an accounting entry amounts to recording at least two movements: a debit and a credit in each journal. Note that encashment is recorded in the account in the bank account in the debit and disbursement to the credit. Bookkeeping is based on a fundamental principle of double-entry accounting. That is, there is always at least one write-through line and at least one credit-write line. For the same entry, the sum of the writing lines entered in the debit must be equal to the credit lines’ sum entered in the credit. In accounting terms, this indicates that the writing is “balanced or balanced”. The accounting entries also feed the balance of verification. The trial balance in accounting is a list of all your company’s accounts’ debit and credit balances. This bookkeeping record verifies that there were no errors and that the total debits are equal to the total credits. The company trial balance is usually prepared at the end of a financial period and is preparatory to producing financial statements.

The usefulness of good Bookkeeping

Keeping your books up to date regularly and effectively is essential for any entrepreneur. Not only can proper Bookkeeping meet the requirements of the authorities, make the appropriate payments on time, but it also allows:

  1. Immediately detect inconsistencies and discrepancies.
  2. Controlling cash flow (cash)
  3. Avoid errors and loss of documents.
  4. Know the performance of your company in detail and in real-time
  5. Ensure good business management and make informed business decisions.

How to carry out your Bookkeeping by yourself?

As a self-employed or small business, using accounting software is the easiest way to keep your Bookkeeping and accounting on your own at a low price. With online accounting and bookkeeping software like Kiwi, all you have to do is make transactions (bill your customers and enter your expenses), and the software will generate the log entries for you. However, using the software also save time and reduce the risk of errors.

Check your books with bank reconciliation.

The bank reconciliation is usually completed at the end of the month. The bank reconciliation is a process used to ensure that the company’s accounting records are in line with bank statements. Accounting software like Kiwili allows you to import your bank statements and check line by line if the transactions have posted in the general journal. Bank reconciliation is not compulsory, but it allows the concordance of the accounts’ data to be checked and to make sure of the reality of the accounting situation. The bank reconciliation is an essential measure for good Bookkeeping.

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