Accounting and Bookkeeping

Accounting and Bookkeeping

Bookkeeping service 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 employers are filing invoices and expenses correctly and handling payroll. Small businesses should strive to increase reporting accuracy, maintain and aggregate necessary accounting reports, and streamline filing business taxes and reporting expenses.

Examples of Bookkeeping Tasks
Typical financial transactions and tasks that are involved in bookkeeping include:
Billing for goods sold or services provided to clients
Recording receipts from customers
Verifying and recording invoices received from suppliers
Paying suppliers
Processing employees’ pay and the related governmental reports
Monitoring individual accounts receivable
Recording depreciation and other adjusting entries
Providing financial reports