Bookkeeping is a crucial division of accounting. Bookkeeping refers to the process of accumulating, organizing, storing, and accessing the financial information base of an entity, which is needed for following basic purposes:
- Facilitating the day-to-day operations of the entity.
- Preparing financial statements.
- Planning, Communicating and Controlling of Financial Information.
- Preparing Tax and Sales Tax Return.
The financial information base should be complete, accurate, reliable and timely.
Accountants design the internal controls for the bookkeeping system, which serve to minimize errors in recording the large number of activities. Detect and avoid theft, embezzlement, fraud, and dishonest behavior of all kinds.
Recording, Classifying and Summarizing Accounting Transactions in an Automated and Integrated Fashion, purpose is to ensure accuracy, reliability and relevance of the reported figure as well as developing paper-less environment and retention of accounting record for a maximum period of time.
A Smart Accounting Software makes life Easy for Accountants and meets the need of Employees, Owners/ Shareholders, Tax department and third parties dealing with the Company.
Our support services in relation to finance and accounts are as follows:
- PREPARATION OF UNDERLINE DOCUMENTS
- Bank Payment Voucher (BPV)
- Bank Receipt Voucher (BRV)
- Cash Payment Voucher (CPV)
- Cash Receipt Voucher (CRV)
- Journal Voucher (JV)
RECORDING OF TRANSCATION
- General Ledger (GL)
- Subsidiary Ledger (SL)
- Bank Book (BB)
- Cash Book (CB)
MONTHLY TRAIL BALANCE
To reconcile accuracy of the recorded and reported transactions.
STAFF REMUNERATIONS AND BENEFITS
Maintenance of Payroll for:
- Management Salaries and, Allowance s and their monthly deductions.
- Staff Salaries and, Allowances and their monthly deductions.
- Monthly Tax returns as per income tax ordinance.
- Inventory Ledger
- Sales Ledger
- Purchase Ledger
- Trade Debtor
- Trade Creditor ( Include monthly income tax return as per income tax ordinance)
- Import Ledger
- Detailed Fixed Assets Register
- Supplier wise detail of monthly tax deductions
FINANCIAL STATEMENTS (On Monthly/Quarterly/Half Yearly and on Annual Basis)
- Balance Sheet
- Profit And Loss Account
- Cash Flow statement
- Statement of changes in Equity
- Appropriate Accounting Policies ,Accounting assumptions
- Notes to the Accounts
RECONCILIATIONS (On weekly and Monthly Basis)
- Bank Reconciliation Statement.
- Stock Reconciliation.
- Debtor Reconciliation.
- Creditor Reconciliation.
- Reconcile main ledger with the subsidiary ledgers to ensure the accuracy and reliability of the reported figure.
DAILY BANK REPORT
The purpose is to manage daily cash inflow and outflow and forecasting of cash resources in a smart way.
CHART OF ACCOUNTS
Maintenance of adequate and appropriate chart of accounts in:
- Main Heads of Accounts
- Sub Head of Accounts
- Detail Head of Accounts
Define Authorized Persons for:
- Opening of New Accounts
- Closing of inactive Accounts
- Change I Correction of Accounts
SUPPORTING DOCUMENTS RELATING TO
- Purchase Indent (Pl)
- Comparative Sheet (CP)
- Purchase Order (PO)
- Material Receiving Report (MRR)
MARKETING AND SALES
- Sales Quotation (SQ)
- Sales Invoice (SI)
- Delivery Order (DO)
- Gate Pass (GP)