Bookkeeping service

Overview

Bookkeeping is the recording of financial transactions and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation. There are several standard methods of bookkeeping, including the single-entry and double-entry bookkeeping systems. While these may be viewed as “real” bookkeeping, any process for recording financial transactions is a bookkeeping process.

Bookkeeping is the work of a bookkeeper (or book-keeper), who records the day-to-day financial transactions of a business. They usually write the daybooks (which contain records of sales, purchases, receipts, and payments), and document each financial transaction, whether cash or credit, into the correct daybook—that is, petty cash book, suppliers ledger, customer ledger, etc.—and the general ledger. Thereafter, an accountant can create financial reports from the information recorded by the bookkeeper.

Bookkeeping refers mainly to the record-keeping aspects of financial accounting and involves preparing source documents for all transactions, operations, and other events of a business.

The bookkeeper brings the books to the trial balance stage: an accountant may prepare the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.

Multistream International on behalf of our nominated partner’s, offer accounting and finance, and bookkeeping services at reasonable rates. Many clients have benefitted from our customized bookkeeping service. Multistream International connects customer’s serving as a professional firm offering Bookkeeping Services, ensures your accounts are well maintained, which saves time and thereby increases the productivity of your business. We deliver consistent and full-fledged services so that your mind is free to do the real work of the company.

Benefits of bookkeeping services

There is a subtext here that we haven’t yet discussed and it’s important that we do. Because while every task the bookkeeping service completes is vital to the financial health of your business, it’s the underlying structure they apply that really makes a difference. You see, bookkeeping services implement—and maintain—a consistent financial process that strengthens the health of your company and helps to create and encourage uniformity in tracking, paying and reporting. The value of this is immeasurable as it insulates your business from many costly and dangerous risks.

Part of the benefit of the process comes into play when the full-charge bookkeeper coordinates with members of management from other departments in order to approve purchases and gather expense reports. Not only does this activity require extreme organizational, management and math skills, but a bookkeeper must have skills and experience in order to make this work. The team also works to reduce your overall expenses. Not only do they ensure that books are maintained properly to avoid costly fees, and penalties, but they can also alert you to waste and mismanagement of supplies and inventory. All while saving you time since you will no longer need to try and perform these tasks yourself.

There’s no doubt that the bookkeeping process saves your business both time and money, but the processes and consistency introduced by one can increase the longevity and efficiency of your business, making you more profitable for decades to come.

Our service including