Definition of Book-Keeping
Book-Keeping is involved with the recording of a company’s day to day financial transactions. Only with the proper book-keeping, the companies will be able to tract all information on its books to make key operating, investing, and financing decisions.
The individuals who manage all financial data for companies on regular basis is called Book-Keepers. It would be a difficult position for the companies without bookkeepers to have the status of financial position, as well as the transactions that occur within the company.
For internal investors as well as external investors, financial institutions, or the Government that needs access to reliable information to make better investment or lending decisions, the accurate bookkeeping is playing a very crucial part.
Importance of Bookkeeping
Proper book-keeping gives companies a reliable measure of their performance. It also provides information on general strategic decisions and a benchmark for its revenue and income goals. In short, once a business is up and running, spending extra time and money on maintaining proper records is critical.
Many small companies do not really hire full-time accounting personnel to work for them because the costs are usually higher. Instead, small companies generally hire a book-keeper or outsource the job to a professional firm.
Many people who intend to start a new business sometimes overlook the importance of trivial matters such as keeping records of every penny spent throughout the financial year and later only they realise when the authorities are issuing the summons. Because the perfect book-keeping plays an important role to prepare the Financial Statements when the Financial Year ends.
At ACHI, we will help manage your needs of book-keeping according to the requirements of your company. Our experts will assure to pay attention to the results because that is the best way to develop a plan that can help accomplish those results. Our experts will manage book-keeping with perfection that your company will smoothly reach the level of preparation of Financial Statements in due course that you have always wanted in your management policies.