What is Bookkeeping?
Any and all companies have a bookkeeping system in order to record financial transactions a company manages. It is a process of the accounting for the company. These transactions include purchases of products or services, sales of products or services, receipts and payments for individuals directly, sales to third party, or to other businesses.
The company will record purchases such as material to make a finish products, office supplies, equipment for manufacturing, production, and/or function; as well as services provided by vendors, employees (payroll), maintenance and more.
When the company sales a product or provides a service or both it will record the monies as income. This is the money that comes in to the company by any all means including refunds, credits, donations, late fees, and other.
The company buys and sells to two types of customers business to business and business to customer. The business to business is the company that deals with other businesses that provide to the company are provided by the company these are usually large quantities or extended services.. Business to customer is when the company sales directly to a customer in smaller quantities.
Financial Statement Preparation
• Accounts Receivable
• Accounts Payable
• Bank Reconciliation
• Payroll Tax Filing
• Sales Tax Filing
• Setting up Accounting Systems
• Tax planning and Income Tax Preparation
• General Bookkeeping
• Monthly/Quarterly/Year End Reporting
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