Bookkeeping and Accounting Services

What is Bookkeeping and Accounting?

The process of recording, compiling and organizing a business or company's daily financial transactions is known as Book-Keeping Book-Keeping Service Include :

• Preparing and maintenance of Chart of accounts
• Posting and Processing of Accounting Entries
• Finalization of Books of Accounts
• Preparation of Financials Statements

Why Outsource the Book-Keeping & Accounting Process?

Accounting Administration, including tracking Accounts Receivables and Payables as well as maintaining Financial Books is a necessary but challenging task It's impossible to manage such items without the assistance of an Accounting Services Support Team

With the growing Competition to start a business or sustain an existing one, having a well-organized system for Accounting, Book-Keeping and keeping track of the Numbers is essential and Experienced Professional assistance from specialists is guaranteed to come in handy

Book-Keeping & Accounting Outsourcing Service enables you to benefit from cutting-edge technology and highly skilled personnel without having to invest in them or purchase and maintain high-cost software This will allow you to focus more time on growing your business

Benefits of Outsourcing the Book-Keeping & Accounting Services

Why Acco Global for Book-Keeping & Accounting?

By assisting Our Clients with Management, Accounting and Taxation, we are able to reduce our clients' Finance and Accounting costs Customers can pick and choose from our specialized Book-Keeping & Accounting Services which cover the complete gamut of Book-Keeping & Accounting For all of our customers' Book-Keeping and Accounting needs including Set-Up, Support, Maintenance and Accounting, we operate as their virtual back office

Book-Keeping & Accounting Services are classified into three major categories :

"Accounts Payables" (AP) is a general ledger account that shows an organization's obligation to repay a short-term debt to creditors or suppliers Another typical meaning of "AP" is the business department or division in charge of making payments to suppliers and other creditors on behalf of the company

One of the most essential benefits of having strong accounts payable services providers such as ACCO GLOBAL on your side is that it aids in the improvement of your supplier relationships All of your invoices will be cleared well ahead of schedule and you may review these reports on a monthly or quarterly basis to devise business-improvement strategies In addition, discrepancies in invoices and purchase orders can be prevented entirely with a competent and timely accounts payable system in place

Account Payables Outsourcing include :

• Payable tracking & Reporting
• Reconciliations and Accounting of Payables “Accounts Receivable” (AR) is the term used to describe all of your unpaid invoices It's an important part of your company's jigsaw The term "Accounts Receivable Collections Process" refers to the process of classifying invoices and collecting payment for them

ACCO GLOBAL shall enable the organization to collect quick receipts within the required time frame, resulting in higher collection rates and faster invoice processing, resulting in increased cash flow It also helps in taking timely actions if a receipt is getting prolonged for a longer period of time Account Receivable Outsourcing include :

• Receivable tracking & Reporting
• Reconciliations and Accounting for Receivables “Record to Report” (R2R) is a Finance and Accounting management process that involves Collecting, Processing and Presenting accurate Financial Data R2R provides Strategic, Financial and Operational feedback on the performance of the organization to inform management and other stakeholders We ACCO GLOBAL help our clients through the below services of accounting:
• Journals – Processing manual journal entries is a service that necessitates both knowledge and experience
• Outsourcing accounting services such as manual journal entries could result in error-free manual journal entries as well as help your business managers be more productive
• Month/Quarter/Year end Services -At the end of each reporting period, accountants utilize this accounting procedure to close the accounting records for the current accounting period
• No additional entries will be allowed during a period that has been marked as closed
• It assures that all financial transactions from the previous period have been recorded
• Reconciliations – When the bank statement/statement of inventory/creditor/debtor arrives each month/quarter/half-yearly/yearly, reconciliation should be performed
• It aids in the appraisal of revenue and expenses, as well as the reconciliation of the other party's records with your own
• Variance Analysis – A budget is used by most firms nowadays to maintain track of their finances
• Monthly closing procedures include comparing monthly expenses against budget and discussing significant discrepancies
• Variance analysis can help with error rectification and posting of necessary modifications to prepaid and accrued costs
• Year on Year, Quarter on Quarter and Month on Month are all examples of variance analysis
• Reporting and Review – After performing the above functions, a reporting mechanism is required for a comprehensive view of an organization's financial position
• Transaction reporting is critical since it aids not only the company but also other stakeholders such as investors, auditors, the government and shareholders in evaluating the firm
• Following the completion of reporting, it is critical to review the financial position and other factors so that appropriate measures (if any) can be taken for future periods

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