Bookkeeping is the recording, on a day-to-day basis, of the financial transactions and information relating to a business. It certifies that records of the individual financial transactions are accurate, up-to-date and comprehensive. Accuracy is therefore important to the process.
Every business entity has a legal obligation to keep records of their dealings. There is no set design that must be observed but at the very least records of all sales, expenses and purchases should be kept.
Aside from the responsibilities, keeping good records is an indispensable part of running a prosperous business. When worthy records are kept the business owner knows at any given time, how much is owed from customers, how much is owed to suppliers, how profitable the business is and how much cash is available. This means healthier decision making can be made and expansions in cash flow and profitability can be made if necessary.
Why outsource your bookkeeping?
Subcontracting your bookkeeping to professionals such as an Accountancy firm like us will not only eradicates one of the biggest difficulties embedded with managing a company’s financial affairs, but also offers a throng of benefits such as:
Peace of mind. As a full accountancy practice, our partners have many years bookkeeping experience to guarantee fast and perfect data entry, resulting in a correct and complete set of accounts and tax return at the end of the financial period.
Tax savings. As we complete your bookkeeping your enthusiastic payroll clerk will constantly be looking for any potential efficiencies which may result in less tax being owed to Tax authority.
You are offered opportunity to locate gaps and make corrections which has the potential effect of saving you from plenty headache in the near term.
You also benefit from professional bookkeeping that puts in the best stead to face an impending tax audit in the future.
Why choose Qeeva Advisory Limited
Our Bookkeeping Services are concentrated at decreasing the finance and accounting costs of our clients by aiding them with their management, accounting and tax preparation needs. Qeeva Advisory professional bookkeeping services cover the entire scope of bookkeeping and customers have the elasticity to choose what they want. We provide you with the required bookkeeping services that allows you to focus on your core business while you leave getting it right with us. By outsourcing bookkeeping services to Qeeva, you can benefit from the cost advantages of Qeeva Advisory tailored finance and accounting services.
Accounting Bookkeeping Services We Offer
- Day-to-day bookkeeping and accounting
- Books balanced and reconciled quarterly
- Annual accounts and tax returns preparation
- Submission to Inland Revenue
- Submitted to Companies House
- Expert tax advice to minimize tax liability
- Adjustments to year-end accounts
- Storage of documents at our offices
- Assets / equipment ledger maintenance
- Expenses ledger maintenance
- Preparing accounts receivable reports
- Preparing accounts payable reports
- Preparing ageing reports & summaries
- Credit card reconciliation services
- Preparing financial statements
- Trial balance services
- Accounts receivable services
- Accounts payable services
- Bank account reconciliation
- Invoicing Processing Services
- Manual Journal Entry Services
- VAT returns
- General ledger maintenance
- Preparing income statements (Profit & Loss)
- Cash flow statement
- Entry of transactions
- Inventory services
- Accounting setup services
Outsource Bookkeeping Services to Qeeva Advisory and enjoy:
- The highest standards of business ethics
- Our strong infrastructural set-up and skilled resources ensure uninterrupted services to our customers
- Our widespread experience in servicing global customers
- The industry standards-based, best practices and methodologies guaranteeing the utmost quality every time
- Proficiency in diverse types of bookkeeping systems like double-entry bookkeeping
- Reasonably priced services
How Effective Bookkeeping can benefit Your Business
Bookkeeping is the imperative task of keeping records of financial transactions and it is the indispensable part of accounting in all the business operations. It is such a vital activity that decides your business forte. It is the activity of Classifying, Recording, Reporting and Analyzing data. Without proper bookkeeping, it’s impossible to run your business and you may wind up with unexpected challenges and outcomes.
“How Bookkeeping helps you in managing and growing a business?”
Bookkeeping operate under the concept of double entry system, recording financial transactions under credits and debits heads.
Debits denote an asset and Credits represent a liability. Debit will rise the value of an asset and credit will lessen its value.
Initially bookkeeping may confuse you a little bit, but the fact is, it’s very simple once you comprehend the strategy of financial transactions, Debits, Credits and Equity.
Assets are economic resources a company possesses, such as cash, inventory, buildings, equipment, vehicles etc.
Liabilities include wages payable, income taxes payable, loans payable, bonds payable, and interest payable,. Less common liabilities are customer deposits and deferred revenues.
Equity is the value of an asset less the value of all liabilities on that asset.
Entrepreneurs or small & medium business owners can do their bookkeeping all alone and understand their company net worth and control the finance. Several of them move their entire bookkeeping process to bookkeepers OR Chartered Accountants to keep their bookkeeping service that will save their precious time but the possibility of making financial mistakes and a-lot more.
Bookkeeping for medium & large organizations that have traditional pyramid in organisations with multi-level procedures maintain a large accounting department, with huge capital investments, secure infrastructure as well as maintain quality audits.
By recording day-to-day financial details you can keep track of data that will help you to maintain the accurate records of financial entries.
Organization’s spending and revenue and expenditure, cash flow, budgets, ledgers, Bank & Credit Card Reconciliation, Journals, Inventory Management, Sales Tax and VAT Management, Accounts Receivables and Payables, Income Tax records, Costing & Budgeting, monthly, quarterly and yearly closing financial statements, etc can be recorded accurately up to date. When bookkeeping maintains accuracy in day to day financial activities, it gives you an excellent benchmark of how well your business is performing. It also provides financial information throughout the year so you can test the success of your business strategies and make required changes in the system to ensure that you reach your year-end profit goals.
Professionals; Bookkeeping Advantages.
- Keeping all general ledger accounts in real time.
- Preparing invoices, cheques, bank reconciliations and completing financial statements.
- Same time reporting investors is also easy with perfect documentation
- Be more profitable by saving your time from routine tasks to focus on business strategies.
- Bookkeeping is a fixed to its quality policy brings accurate business process that benefit to businesses further leading efficiency, productivity in a convenient style.
- Reconstructing essential data from historical records when needed.
- Backup your important electronic records day to day, available to take when required.
- Excellent staffing – accounting is no longer part maintenance work for somebody who could be better utilized on your staff
- Keep your active financial records off-site and assure total confidentiality.
- (OR) Keeping proper business records required by law
- Bookkeeping helps you track on all activities and documents in order to do annual taxes, without rushing to find bills and expenses when time pay tax. Same time help you to understand the financial accounts (Cash Flow Statement, Profit and Loss & Balance-sheet)
Hiring a Bookkeeping Service
Engagement a bookkeeping service is approximately more than just finding someone who can use a calculator and understand the use of Accounting Software. You want a developed team that has the professional background, training and experience to indeed benefit your business. People whose expertise you can rely on.
One of the calmest ways to secure an experienced, certified, professional bookkeeping service is to use a virtual accounting service provider. In fact, you can appoint an entire bookkeeping staff—including an accounting software specialist, full-charge bookkeeper and controller—all through a virtual service without having to create an internal department. And after using their services, you may just find that your company couldn’t afford not to have their expertise.
It doesn’t matter where your company is situated, a virtual bookkeeping staff can give you all the benefits you need to stay open and profitable for many years to come.
You give your business so much in order to grow and succeed. You give it your time, proficiency and ideas, you market your products and services and hire competent employees, you design benefit packages, maintain insurance, and have a dedicated space. Now it’s time to take your business to the next level and ensure its future success by putting an accounting team in place. Allow them to give you the benefit of maximized productivity of your business income and expenses while holding your employees accountable and minimizing exposure to various financial and audit risks. If you pay attention about the future of your company, hire a virtual bookkeeping service today.
Speak to us today. We will sort you out on your bookkeeping needs. Call +2348023200801 or Email email@example.com.