We provide Bookkeeping Services, Bookkeeping involves the process of recording, analyzing, and interpreting the financial transactions of a business or individual. The discipline of bookkeeping accounts for a large proportion of the accounting process. A bookkeeper’s duty is to set up financial statements so that an accountant can easily perform legal and tax management in a timely manner.
A skilled and compliant bookkeeper should be able to produce financial records that give business accurate information about its financial activities. These records are critical to the future success of any business. Not only are these records necessary for the business, but they are also required by law. A good contract bookkeeper is able to:
- Set up accounting systems and software properly.
- Enter transactions.
- Perform checks, reconciliations and end of year processes.
- Ensure they are up to date with legislative requirements and management reports.
- Undertake payroll duties and compliance.
The bookkeeper maintains complete and up-to-date detailed accounts receivable, accounts payable cash account ledgers, and provides daily or weekly reports on these and other critical areas of business management. The bookkeeper either processes payroll or makes the necessary entries to record payroll processed by a third-party provider. In either case, payroll entries will include complete recording of gross wages, employer tax and other payroll expenses, and payroll liabilities.