What is bookkeeping?

Bookkeeping is the orderly recording and organizing of financial trades in a company. Bookkeeping is the daily recording of the financial transactions and figures relating to a business.

Bookkeeping makes sure, accounts of all the individual monetary dealings are accurate, up-to-date and thorough. Plentiful of Cheap accountant in London believe accuracy as a critical ingredient of any bookkeeping services.

Bookkeeping Services Includes

  • Bookkeeping services help to maintain records
  • General ledger, Income statement, balance sheets, and management of cash flow
  • Payable and Receivable accounts
  • Tax planning and calculation
  • Audit your accounts for evidence of frauds
  • Upcoming year budget planning
  • Trace expenses of how much money is required in a Month
  • Journal entry and Ledger posting

Importance of bookkeeping

Good bookkeeping helps you save money and time.

A realistic plan with a budget, correctly recorded transactions, review of results on regular bases regularly and always maintain good records helps to balance the money transactions in the business.

The balance sheet, income statement, and cash flow statement are three statements. These statements give an overview of your financial situation to better manage money.

Good budget help forecast money is required for running the business.

To recognize expectation to receive and pay can help trace the money transactions thus avoid fraud and theft in the accounts.

With the proper track of the expenses, you will never miss the correct amount to repay the tax.

To maintain up-to-date records of payments received from your clients.

For future verification by maintaining bills, receipts, and invoice recorded in a file system. This makes your task to trace your expenses easier.

Well-maintained records are valuable resources to show the bank when you wish to apply for a loan.

Based on the records and your particular need, the accountant formulates a budget plan, you will need to achieve financial goals.

SK Accountants offer a full range of Accounting and Taxation Services for businesses to create accounting solutions as per the specific accounting needs. Our services include Tax Planning, Account Management, Company Formation, Bookkeeping, Secretarial and Immigration Services. Maintaining a clean bookkeeping affair demands caliber and speed while calculating the tax and financial reports.

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