Efficient Way of Maintaining Your Books of Accounts

In today’s competitive time, companies are not able to focus on their books of accounts as it is very frustrating and time consuming job. Hiring bookkeeping services is beneficial to you as it costs you lower around 50% of the amount that you will do it yourself. So, hiring bookkeeping services allows you to focus on your core competencies like sales, marketing, management and strategic planning etc. Here are some services provided by bookkeeping services Singapore which are mentioned below:

Services provided by bookkeeping Services Company

1.       Bank Reconciliation- They performs comparison of your internal bank transaction records with bank statement in order to know any discrepancies.

2.       Profit and loss statement- Generating profit and loss statement that shows the profit or loss after a particular period with expenses and income.

3.       Cash flow management- manages your cash flow to make sure that you have cash when you need it. It is very critical part of any business.

4.       Financial reporting and analysis- provide you key information about finance of your business about how the finance is used in the business.

5.       Account payable and Receivable- Identify money that you own to suppliers and your customer that own the money to you.

6.     Credit control- Create system for controlling credit like giving credit to client, credit application, collection and follow up procedures.

7.       Financial insights- They provide you some financial insight about inventory, credit and income and sales to improve your business.

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