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About this Plan
Bookkeeping is a process of keeping an organization’s financial records and balancing them accurately.
Ambience will provide you with the necessary accounting advice and guidance to assist you in your business. You can connect with our accountants and accounting specialists anytime you want to take advantage of our services.
1. To measure the income and expenses of a business
Accounting helps businesses to run a smooth and transparent business. It helps businesses
know better about their expenditure and incomes so they can plan further strategically.
2. Getting the information promptly
For a business, it is very important to well maintain its records. It shows the management
skills and ability of a firm. The manager gets a chance to keenly observe the transactional
activities of a business.
3. Regular reconciliation rationalizes decisions
The regularization of data provides businesses with a vision to be more futuristic. They can
better analyze the profit and loss of a business and can understand the reason behind it.
4. Attract investors with accurate financial
The financial condition of a business is important for an investor before making his decision
to invest in a company. Keeping your books and accountants up to date will attract more
investors to your business.
5. Ready to provide data for timely compliance
The process makes it easy for businesses to get their data on time. It will help them in filing
the return on time as well. Also, businesses can regularly sustain the compliance and
scrutiny of the business.
Recording transactions: This involves recording all financial transactions such as sales, purchases, expenses, and receipts in a general ledger.
Bank reconciliation: Bookkeepers reconcile the bank statements with the general ledger to ensure that all transactions are recorded accurately.
Accounts payable: Bookkeepers manage the accounts payable, ensuring that all bills are paid on time and that vendors are paid accurately.
Accounts receivable: Bookkeepers manage the accounts receivable, ensuring that all invoices are sent out on time and that payments are received accurately.
Payroll: Bookkeepers process payroll, ensuring that employees are paid accurately and on time. This includes calculating and withholding taxes and other deductions.
Financial reporting: Bookkeepers generate financial statements such as balance sheets, income statements, and cash flow statements.
The documents required for accounting may vary depending on the specific needs of a business or organization. However, some of the essential documents that are typically required for accounting include:
Invoices: Invoices are issued by a business or organization to their customers for goods or services rendered. They contain important information such as the amount due, the date of the transaction, and the terms of payment.
Receipts: Receipts are issued to customers for payments made for goods or services. They contain important information such as the date of the transaction, the amount paid, and the name of the customer.
Bank statements: Bank statements contain a record of all transactions that have taken place in a business’s bank account. They include deposits, withdrawals, and other financial transactions.
Purchase orders: Purchase orders are issued by a business or organization to their suppliers, indicating the goods or services that they wish to purchase.
Sales orders: Sales orders are issued by a business or organization to their customers, indicating the goods or services that they have agreed to sell.
Payroll records: Payroll records contain information about employees, including their salaries, wages, and other benefits.
Tax documents: Tax documents include records of taxes paid, such as income tax, sales tax, and payroll taxes.
Overall, these documents provide the necessary information for an accountant to properly record and report a business’s financial transactions.
How it’s done
Our online accounting services feature end-to-end online processing provided by our experts. It is very simple, completely digital and available for 365 days.
- Fill the form
- Talk to an accounting expert
- Buy our plan
Complete the overboarding