Bookkeeping services are necessary for all businesses to ensure accurate operational / financial information. Such information is required by Management, Regulators, and Investors. Bookkeeping is the process of recording financial transactions of a business in an accounting system and the creation of reports.
Bookkeeping services is the process of keeping records of financial transactions and preparing financial statements, such as balance sheets and income statements. In day-to-day operations, a bookkeeper would make sure employees are filing invoices and expenses correctly and handling payroll.
Benefits of Bookkeeping
Compliant With Law
A good bookkeeper will always comply with the latest legal regulations and will make sure all your accounts and books are up to date with any recent legal changes. Because the bookkeeper holds himself or herself accountable for any work that they do, you can rely on them to clear any mistakes
Saving your Time
As your business grows, you will find yourself spending more time managing your money and less time scaling the business. Hence, the outsourcing administrative tasks like bookkeeping and accounting help you to focus your time, energy and resources on creating the business strategies.
The accounting service providers has the amount of availability to scale your services significantly without any lag. For example, if your bookkeeping and accounting tasks exceed the number of functions for 1 employee, you can easily be enforced with the extra workforce.
Most businesses use accounting automation software to save time. It will save time, but importantly, it reduces risks. Automating accounting is minimizing human errors. Secondly, in automation software, accountants get real-time reports. It assist in catching potential problems and resolving.
Even though you will need to wait for the accountant or the auditor to finish their reports to conclude official financial statements, you will always have an updated balance sheet to inquire about the current state of the accounts and present these datas to the interested parties.
As bookkeeping tends to be less expensive than accounting, it’s helpful to know that by having detailed records you will shorten the length of time an accountant will spend on analyzing your accounts and creating financial statements and will not diminish the cost of accounting.
Procedure of Bookkeeping Services
Bookkeeping Service Details
Why should you Maintain Books of Accounts?
- It is a Statutory Requirement for all businesses except for Sole Proprietorship.
- Helps you review your performance and take steps to improve.
- Maintaining books of accounts helps you when you need funding from investors.
Accounting Bookkeeping Services We Offer
- Accounts receivable services
- Bank account reconciliation
- Manual Journal Entry Services
- Assets / equipment ledger maintenance
- Preparing accounts receivable reports
- Cash flow statement
- Inventory services
- Day-to-day bookkeeping and accounting
- Adjustments to year-end accounts
- Submitted to Companies House
- Annual accounts and tax returns preparation
- Books balanced and reconciled quarterly
- Accounting setup services
- Entry of transactions
- Trial balance services
- General ledger maintenance
Bookkeeping Services for Multiple industries
One size does not fit all! At Outsource2india, our accounting bookkeeping services are custom-designed to meet your individual needs. Unlike most of our competitors, we know exactly what the differences between bookkeepers and accountants are, and provide our services tailored to your organizational goals. We offer a wide range of expertise, so you can create a package that best fit your business requirements. We offer bookkeeping for the following -
- Bookkeeping for Real Estate
- Bookkeeping Services for CPA Firms
- Bookkeeping Services for Large Corporations
- Accounting and Bookkeeping for Banking Industry
- Bookkeeping Services for Small Businesses