Bookkeeping
What Is General Bookkeeping? General bookkeeping involves the systematic recording, organizing, and maintaining of a company’s financial transactions. It serves as the foundation for accurate accounting, tax reporting, and informed decision-making. to Due Ledger
Transaction Recording
• Capturing all income and expenses. • Recording sales, purchases, receipts, and payments.
• Capturing all income and expenses. • Recording sales, purchases, receipts, and payments.
Bank & Credit Card Reconciliation
• Matching bank and credit card statements with internal records to ensure accuracy.
Accounts Payable (A/P)
• Tracking money owed by the business.
• Managing vendor bills and due dates.
Accounts Receivable (A/R)
• Tracking money owed to the business.
• Invoicing clients and following up on unpaid balances.
General Ledger Maintenance
• Organizing all financial data into a comprehensive ledger that summarizes the business's financial position.
Financial Reporting
• Profit & Loss Statement (P&L)
• Balance Sheet
• Cash Flow Statement