Bookkeeping is a foundation of accounting and its purpose is to maintain a systematic and accurate record of financial transactions occurring in the ordinary course of your business.

 

The proper bookkeeping and documentation safeguard the financial interests of the business and protect it from financial losses and damage to its reputation. Our professional team can help your business to grow successfully through high-quality bookkeeping and accounts management services such as:

 

• • Billing for services provided and goods sold to customers and keeping the records of receipts
  • Recording payments to suppliers with categorization into respective expenses in the accounts
  • Performing monthly reconciliations with customers and suppliers
  • Posting journal entries and accruing expenses at the end of a reporting month
  • Preparation of chart of accounts and organizing financial accounts
  • Maintaining fixed assets register and booking depreciation expense
  • Processing and posting payroll disbursements to employees
  • Performing monthly reconciliation of general ledger and bank accounts

The objective of accounting and financial reporting is to present an accurate and fair picture of the financial affairs of your business.

 

Based on the financial data captured through the bookkeeping process, our team will prepare monthly, quarterly and annual financial statements to report the financial health and the results of the operating activity of your business which help you better understand your business and make informed business decisions.

 

The commonly-used forms of financial statements are:

 

• • Balance Sheet – It provides an organized view of assets, liabilities and equity of your business at a certain date. By looking at the balance sheet, you can determine which liabilities are priority to take care of and which assets can be adjusted or collected to help with the cash flow of your business.

  • Income Statement – It provides a summary of revenues, expenses, and profits/losses of your business over a given period and shows the ability of your business to generate sales, manage expenses, and create profits.

  • Cash Flow Statement – It helps you in knowing how much cash your business generated and used over a given period which is essential for maintaining a financially sustainable business.

 

Along with financial statements, we can also produce other types of ‘Management Information System’ (MIS) reports tailored for your needs to make better business decisions. Examples of such MIS reports include but are not limited to:

 

• • Profitability Analysis Report
  • Expense Analysis Report
  • Customers and Suppliers Ageing Report