Bookkeeping Service Information
What is Bookkeeping service?
Bookkeeping is the recording of financial transactions. Transactions include sales, purchases, income, and payments by an individual or organization. There are some common methods of bookkeeping such as the single-entry bookkeeping system and the double-entry bookkeeping system. But while these systems may be seen as “real” bookkeeping, any process that involves the recording of financial transactions is a bookkeeping process.
How do we do bookkeeping?
In bookkeeping, we record the day-to-day financial transactions of an organization. Bookkeeping consist of writing purchases, sales, receipts, and payments. We ensure all transactions are recorded in the correct day book, suppliers ledger, customer ledger and general ledger. We bring the books to the trial balance stage and then prepare the income statement and balance sheet using the trial balance and ledgers prepared.