The service basically covers maintenance of accurate and updated accounting records, files and processes for all clent’s financial transactions and business activities. This includes sales/purchase/disbursement books, cash/bank transactions, payroll records, tax files and other regulatory submissions essential for regulatory compliance. Proper bookkeeping makes other functions, such as audits, payroll, and tax preparation, a lot simpler and less time consuming while at the same time ensuring smooth and compliant financial operation of the client.
Detailed services include the ff:
- Keeping accurate financial records using standard accounting practices by making the appropriate entries on client’s accounting system;
- Reconciling monthly bank statements, disbursement vouchers, sales invoices / accounts receivable and other payables;
- Providing periodic financial reports including trial balance after monthly closing;
- Providing supplementary records/reports in a timely manner as requested by client for financial review of sales/expense components, aging of accounts receivable, cash flow statement, etc.