How to Choose Bookkeeping And Accounting Services For Small Businesses - PowerPoint PPT Presentation

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How to Choose Bookkeeping And Accounting Services For Small Businesses

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In the current era, every business, whether it is small or big, gradually expands locally and internationally, giving rise to a dire need of bookkeeping and accounting services for small businesses worldwide. A business runs well if it’s bookkeeping is maintained. – PowerPoint PPT presentation

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Title: How to Choose Bookkeeping And Accounting Services For Small Businesses


1
How to ChooseBookkeeping AndAccounting
Services For Small Businesses
2
Introduction
  • In the current era, every business, whether it is
    small or big, gradually expands locally and
    internationally, giving rise to a dire need of
    bookkeeping and accounting services for small
    businesses worldwide. A business runs well if
    its bookkeeping is maintained.
  • They facilitate small to medium sized businesses
    in streamlining their accounting practices so
    that cost goes down and effectiveness is
    increased, which is vital for success of every
    business. Integrative technologies also
    streamline businesses cycle nowadays, with sound
    maintenance of data integrity.

3
Abilities Of Expert Book-Keeper
  • A good book-keeper can perform following tasks
    for small and large businesses
  • Properly analyse and set up accounting software
    and system
  • Enter all transactions accurately
  • Perform monthly and yearly checks and
    reconciliations
  • Ensure that the records are up to date with
    management reports and legislative conditions
  • Undertake payroll and compliance duties
  • Prepare sound administrative support to business
    owners of small businesses.

4
Best Bookkeeping Services
The transactions include sale and purchase of
products, as well as, payments by an individual
or small business. Professional book-keepers
perform daily, weekly, or monthly recording of
all sales, payments and expenses. They issue
invoices, and statements. He manages and
maintains business records and files, reports
payment of tax remittances, issues pay-checks to
customer employees, manages tax liability
deposits, manages collection efforts, monthly
consolidated financials, sales tax wherever
applicable, document creation for loans, income
statements, balance sheets, general ledgers and
reconciles different types of loan
accounts. Areas of expertise are Xero, Quick
Books Pro or Quick Books Premium, Vin-Sight,
Bill.com, Concur, Payroll, Order processing,
Shipping and Fulfilment.
5
Firms Offering Bookkeeping Services
  • Following firms offer book-keeping and
    accountings services for small businesses in
    different countries.
  • Accounting Department.com
  • Growth Force
  • Beyond Book-keeping
  • SLC Book-keeping
  • Accountrain
  • Nuvest Management services
  • Connivia Accounting solutions
  • Ledgers online

6
Types Of Bookkeeping Services
  • There are three types of book-keeping services
    for small business enterprises
  • Part-time book-keeping
  • Full-time book-keeping
  • Outsourced book-keeping

7
1. Part-Time Book-Keeping If a business is new
and can manage book-keeping on its own, with some
extra help, then a part-time book-keeper is
suitable, who can input receipt, track employee
timesheets, and then management can review his
work.   2. Full-Time Book-Keeping A full-time
book-keeper can handle all types of accounting
activities for your business, and keep your books
updated, which is the basis of financial success
of a business. He can run operations associated
with billings, time sheet management, processing
of financial statements, and guarantee accuracy.
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3. Outsourced Book-Keeping Small businesses have
less space and less funds are present to invest
in running it, therefore it is recommended to
outsource bookkeeping and accounting services
from WeAccountax for small business. Outsourced
bookkeeping services are generally delivered at
the fraction of cost of a full-time working
book-keeping employee in an organization. There
are different accounting firms offering
outsourced book-keeping service, ranging from
project only outsourcing, hourly rates, and flat
monthly service charges.
10
Small Business Accounting Services
  • Running a small business requires time,
    dedication and patience, but if accounting tasks
    are also added in already too many
    responsibilities of employees, then it results in
    saturation and work overload.
  • Therefore, an expert accountant or book-keeper
    can save your day by stepping in and taking these
    accounting responsibilities, which are very
    important for smooth operation of business.

11
  • They can review unpaid bills from vendors, review
    projected cash flow, past due receivables,
    process payroll and approve tax payments.
  • They can also compute approximated income tax to
    be paid. Proper management of books, and running
    your small business with keen eye for growth is
    essential for gaining credibility with financial
    institutions.
  • Integrating book-keeping solutions provides you
    with financial credibility which is required by
    every local and international business.

12
Conclusion
An expert bookkeeper can provide financial
records that give accurate knowledge to a
business, regarding its financial activities as
these records are crucial for the future success
of any small business. In fact, they are also
required by law as legislation states that
businesses must have latest financial records to
ensure that they pay all necessary
taxes. Therefore, proper book-keeping discipline
significantly accounts for excellent accounting
process because when a book-keeper correctly sets
up financial records, then accountant can
accordingly analyse legal and tax management in a
proper format. They provide timely, accurate and
customized reports which can guide business
owners and executives to take better decisions in
future, so that their businesses can improve and
prosper.
13
Thank You !
info_at_WeAccountax.co.uk 44 20 3807 5353
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