7993304535
BOOK KEEPING
BENEFITS



    Why shoud outsourcing?

    Save Time

    Accounting & Bookkeeping is time-consuming jobs. Outsourcing to professionals helps reduce efforts & focus on other vital areas of business.

    Increase Profits

    With proper & skilled accountants, businesses can focus on cash burn & unplanned expenses to boost the company's profits.

    Support

    A dedicated outsourced accountant helps you with proper support on further decisions & investment strategies.

    Reduce Exp

    Outsourcing Accounting & Bookkeeping than in-house accountants' reduces accounting expenses. It is cheaper, efficient & productive.

    FAQ"S
    How can i send data?

    You can send data through Email or Upload documents our website

     

    A remote book keeper is look after your business online and maintaining data through online and provide all reports though email.

     
    • Bookkeeping lets you prepare financial statements.
    • Bookkeeping lets you focus your business strategy and plan for the future.
    • Bookkeeping keeps you prepared for tax season.
    • Bookkeeping maximizes your deductions come tax time and much more.
     
    1. Cash Basis of Accounting: All incomes are considered to be earned when they are actually received in cash. Similarly, expenses are deemed to be incurred only when they are actually paid in cash. In other words, importance is attached to cash receipts and payments but non-cash items, such as outstanding, pre-paid expenses, accrued incomes or income received in advance are ignored. This method is adopted in those concerns where only cash transactions take place. Generally, this system is followed by individuals like Doctors, Lawyers, Auditors, Engineers, Brokers, and Small Traders etc.
    2. Accrual Basis or Mercantile Basis of Accounting: This method is commonly adopted by business concerns. Incomes are recorded or credited to the period in which they are earned irrespective of the fact whether the same has actually been received or not. Similarly, expenses are charged to the period in which they relate irrespective of the fact that they have actually been paid or not. In other words, all items of incomes and expenditures, both cash items as well as non – cash items such as pre- paid expenses, accrued incomes or income received in advance etc, are taken into account.

    Types of Accounting:

    There are two systems of accounting namely Single Entry System and Double Entry System.

    Single Entry System: The single entry system is not a really a system because in some cases record may be one – sided; and in some other cases no record is maintained at all. It is more appropriate to call it an incomplete system of recording transactions. Double effect of every transaction is ignored and only the accounts relating to suppliers and customers an cash account are found. Thus, the system is incomplete, inaccurate and unscientific system of recording business transactions.

    Double Entry System: The modern system of accounting is based on what is known as double entry principle. It refers to that system of book keeping where each transaction is recorded in both of its aspects. viz.i. receiving of the benefit of the transaction and ii. Giving away of the benefit of the transaction. For a complete record of transactions, it should be presented in both the accounts. Business transactions affect two aspects of the accounts in the opposite direction. If are account receives a benefit, there must be another account to give the benefit. It is like the two sides of a coin. Thus, every transaction involves two accounts, one which gives the benefit of the transactions and another which receives the same.

    Concepts and Conventions are principles of accountancy.

    1.Entity concept 2. 2.Dual aspect concept 3. Going concern concept 4. Money measurement concept 5. Cost concept 6. Accounting period 7. Periodic Matching of Cost and Revenue Concept 8. Realisation concept: 

    Conventions:

    Convention of Conservatism 2. Convention of Consistency3. Convention of Materiality 4. Convention of Disclosure:

    Financial transactions are grouped under various head of accounts.  Depending on the name and behavior the accounts are classified.  The head of accounts is primarily classified into 3 groups.  A. Personal Accounts  B. Real Accounts C. Nominal Accounts

    Assets = Liabilities + Owners Equity.

    A compound journal entry is just like other accounting entries where there is more than one debit, more than one credit, or more than one of both debits and credits.

    ➤