The financial side of having a business can make or break a business. It is always advisable to get some expert support. As a business owner, you need to be on top of all your business as well as making sure you are generating a revenue and looking after you finances. Accountants help you to keep your finances in order, but good bookkeepers play an important role too. Many people may think that bookkeepers and accountants are the same, but they are not.
Accountants are qualified and registered professionals who are mainly responsible for preparation and submission of your company accounts, filing your personal and company tax returns as well as giving you general financial advice.
Bookkeepers, however, manage a number of different important responsibilities. The main job of a good bookkeeper is organizing, recording and reporting financial transactions of your business.
The following are some of the tasks that good bookkeepers perform regularly to keep your business run smoothly:
Without proper and accurate bookkeeping, the business transactions can easily go unrecorded or left to pile up till the end of the quarter or financial year. And if there are any discrepancies or mistakes they will be very hard to rectify as so much time has passed by and amending the mistakes will take a significant amount of time.
Good bookkeeping, when executed properly and consistently will stay your company running at its very fine and allow you to find and fix issues before they disrupt your business performance.
Here at Brayan and Spencer Associates, we not only have experienced accountants but also good bookkeeper in London who will keep your finances organized and ensure your business runs smoothly.
Our Qualified Bookkeepers in London are here to help you every step of the way to getting your business to the success it deserves.
Bookkeeping, a process of recording financial transactions either by manually entering data on to an excel sheet or by using an accounting software as part of accounting in business transactions including purchases, sales, receipts and payments. Legally, all businesses must maintain accurate financial record for a period of seven years, also to make better-informed decision when running a business.
Keeping track of financial transactions that occur within the business can be challenging. In the course of accounting, a document is produced after a certain period, typically a month, of all the transactions made in the Bank account with supporting documents like invoices, receipts, deposit slips, cheques, etc. Bookkeeping involves recording the details of all these source documents into Journals. Each journals are summarised using rules of double-entry bookkeeping then transferred to respective accounting ledger.
Brayan and spencer, professional qualified accounts, is known for their excellent comprehensive bookkeeping services London and UK nationwide, by providing qualified Bookkeeper on site for full time or part time (as and when required), interim training in-house employee and supporting from Brayan and Spencer office by collecting documents on regular basis.
Brayan and spencer will take responsibility for ensuring that all transactions weather it is cash or credit transaction are recorded in the correct day book, supplier’s ledger, customer ledger and general ledger as part of Bookkeeping. We follow both Single Entry and double entry bookkeeping system as per accounting practice.
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