Accounting & Bookkeeping
Regardless of whatever you are a start-up or a established organization, keeping track of your finances is crucial for making wise business decisions. At that point of time accounting and bookkeeping services comes in.
Tracking Income and Expenses is what Accounting Services includes. Along with being knowledgeable about the company's finances, an accountant also has a responsibility to provide strategic financial advise. The process of maintaining records of financial activities and creating financial statements, such as Balance Sheets and Income Statements, is known as Bookkeeping Services.
Maintaining Accurate Business records is crucial for any entity. It assists you in understanding how much is owed to you and how much you owe, and it will help you avoid making expensive mistakes.
The records you should maintain in a precise and organized manner are listed below:
1. Sales and Purchases.
2. Payroll and Employment Taxes.
3. Expenses
4. Bank Statements
5. Profit and Loss Statements
6. Cash flow Analysis
7. Account Receivable and Payable analysis etc.