For successful functioning of your business
Posted June 22, 2009on:
Bookkeeping services mainly concern of maintains the financial statements of a firm. Outsourcing Bookkeeping Services is smart bookkeeping business services which mainly used for financial accounting, bookkeeping accounting software, and financial accounting business. Bookkeeping company services is an integral part of the smooth and successful functioning of your outsourcing business
Some of the bookkeeping services include:
- Entry of transactions
- Journal entry
- General Ledger
- Assets /Equipment Ledgers
- Expenses Ledger
- Accounts Receivable Services
- Accounts Payable Services
- Ageing Report & Summaries
- Bank Account Reconciliation
- Financial Statements preparation
- Trial Balance
- Income Statement (Profit & Loss)
- Cash Flow Statement
Different methods of Bookkeeping Services
- Single Entry bookkeeping system
- Double Entry Bookkeeping System
Advantages of single entry bookkeeping system
- Additional columns can be easily added for different types of revenue and expenses.
- Ideal for small businesses.
Advantages of double entry bookkeeping system
- Errors can be easily detected.
- Financial statements can be prepared directly from the accounts.
- Assets and liabilities can be included in the bookkeeping accounts.
- Profit and loss can be accurately calculated.