Bookkeeping services are the recording of financial transaction that include sale & purchase, receipts, payments (by organizations/individuals) and similar others. However, a majority of people thing that bookkeeping and accounting are the same. But in the real way, it is an accounting process that is commonly known as single entry bookkeeping systems and double-entry bookkeeping system. Talking about the single entry system, it is used only income and expenses accounts that is recorded in a revenue and expense journal; while double-entry is used as posting of each transaction twice by using debits and credits. For small and startup businesses, single-entry bookkeeping services are the best.
In order to make bookkeeping services more and more advanced and easy to understand, abbreviations are used that include A/C for accounting, A/R for accounts receivable, A/P for accounts payable, Cr for credit record, Dr for debit record P/R for payroll, TDS for tax deducted at sources, VAT for value added taxes and many more.
From a reputed business accounting solution firm, you will get a number of added benefits through bookkeeping services. Some of the latest services include:
Ledger maintenance (assets, expenses and general ledger)
Account receivable and creating receivable reports on daily basis
Creating financial statements, income statement, sales reports and balance sheets
Cash flow statement, inventory services and entry of transaction with invoice processing services
In addition to the aforementioned services, there are also numerous added services offered through bookkeeping services that include customer reports, event analysis, expenses reports and employees' reports.
Every small to large organization and business hire bookkeepers or accounting professionals for keeping records of accounts. However, there are also a number of firms and organizations that prefer outsourcing bookkeeping services. With upsurge in the demand of latest, secure and error-free bookkeeping services, a number of leading and award-winning accounting firms have come up with latest bookkeeping services to support small to medium enterprises, businesses of all sizes, multiple industries and individuals as well. These service providers also offer you customized services that you can get according to your requirements. In order to make bookkeeping services more and more advanced, these accounting service providers use customize tools and software. Professionals working at these acclaimed accounting firms understand your requirements and then start working without leaving a stone unturned.
From general entries to daily/weekly bank entries, sorting and arranging entries, daily bookkeeping, cash transactions entries, sales tax and general ledger to all kind of accounting solutions are provided in a secure way by accounting experts of a leading firm. So what you are waiting for, find a reputed company and get the best bookkeeping services with some added benefits.
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