Bookkeeping i.e. maintaining record of financial transactions, is very crucial part of any accounting function but for Small and Medium Business managing in house Bookkeeping is costly and time-consuming process as it requires to hire a fulltime accountant. It is also very important that your company books are up to date and maintained correctly for better financial reporting, Audit, Tax purposes. By outsourcing your bookkeeping function, you can:
• Save money by reducing payroll and admin cost.
• Avail better and personalized bookkeeping expertise.
• Have more time to focus on your main business.
• Have correct and up to date financial records
We at Virtual Accountant have an experienced team of bookkeepers who can meet all your bookkeeping need with minimum input from your side. For Bookkeeping we use accounting software i.e. QuickBooks, Xero, Tally keeping in view suitability to your business and monthly, quarterly, half yearly and annual financial reports can be generated.
Our Bookkeeping Service includes but not limited to the followings:
• Selection of suitable accounting software.
• Creating and/or refining Chart of Accounts.
• Booking invoices.
• Recording receipts from customers against invoices.
• Recording invoices from suppliers and other expenses.
• Entering payments in accounting software.
• Recording adjustments through Journal entries.
• Recording accruals, depreciation, payables.
• Ensuring VAT is accounted accurately.
• Bank Reconciliation.
• Monthly closing and generation of financial reports.