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Bookkeeping

BOOKKEEPING

The bookkeeping of your business is a core responsibility of its management. The management of a company needs to keep records for its assets, debts of the company and any contractual liabilities.

The management is responsible for keeping the records of their stock, purchases, and sales throughout the year. The consequences of not keeping these records could result in serious consequences including the disqualification of its directors and fines.

What is Bookkeeping?

Owusu et al. (2015) defines bookkeeping practices as a mechanical and systematic process of capturing economic consequence of business transactions in compliance with accepted Accounting Standards. Bookkeeping is a tool for financial control which enables managers to know the financial positions of their businesses and to take certain control measures to improve corporate performance. It provides a wealth of information that is used by managers, investors, leaders, customers, suppliers, and regulators. An analysis of its statements can highlight a company’s strengths and shortcomings, and managers use this information to improve performance. If management is to maximize a firm’s value, it must take advantage of the firm’s strengths and correct its weaknesses. This is done through the analysis of the financial statements. Financial statement analysis which can be obtained through bookkeeping involves comparing the firm’s performance with that of other firms in the same industry and evaluating trends in the firm’s financial position over time. Therefore, financial statements is useful to anticipate future conditions and, more important, as a starting point for planning actions that will improve the firm’s future performance.

Why have bookkeeping with us?

We understand that every business have different operational system which derives its economic activities. We offer bookkeeping services according to your business operation. Additionally, we consider the objectivity of your business, policies and strategies to customise the bookkeeping tasks that generate the optimal results for your business.

We have expertises and experience in bookkeeping. Our bookkeeping services are not limited to the following tasks.

  • Preparing trial balances
  • Preparing cheque payments
  • Preparing updated reports on credits and debits
  • Preparing bank reconciliation
  • Entering purchase ledger documents i.e. bills
  • Entering sales ledger documents i.e. sales invoices.