Bookkeeping directly affects the growth of a company. Especially start-ups that need the full attention of its founder, including his or her attention to expand the idea.
Your time should be devoted to strategy, marketing, funding, and other key areas that need your attention over the daily operational tasks of a business.
Bookkeeping is the foundation of the accounting cycle. By helping you save time and be more efficient, we can help you to really achieve your goals.
Yes, you have to pay for bookkeeping, but a certified and experienced bookkeeper is going to be much quicker. It usually takes 2.5 times faster than doing it yourself in-house.
Cloud-based accounting is what we have mastered, and most business owners would rather outsource a service like this rather than learn and it manage it themselves.
People prefer to do business with people they trust and are familiar with. This works for us as we are constantly on a journey of getting to know our clients, we genuinely care about their business, ask the right questions, and really listen to their concerns or problems.
It is not simply providing data entry but coming up with solutions that can benefit their business.
Bookkeeping is not like annual compliance work where contact between you and your accountant occurs only a few times a year. This service means we keep in touch on a more regular basis which is helpful to those who need day to day help.
The early stages are critical, but by asking the right questions and understanding the business, we can set up the right systems – this is one of the most reliable ways we build trust with our clients.
Here are the steps we take to look after your books:
- Understand your business to analyse financial transactions and assign them to specific accounts.
- Establish a system for organising receipts and other important records.
- Identify the accounting method – cash or accrual?
- Pay attention to receipts: meals and entertainment, out of town business, vehicle related expenses, etc.
- Make sure that the AP (accounts payable) & AR (accounts receivable) aged report agrees with the GL (general ledger) balance.
- Confirm that the intercompany account has the same balance in each entity’s books.
- Verify that balances agree and can be traced to pre-payment items paid for in advance.
- Close the period at the end of every month. Once closed, no entries will be posted in the closed period. Doing this also helps in early identification of any accounting or bank related issues.