Bookkeeping (book-keeping or book keeping) is where all the day to day financial transactions carried out by a business are recorded, this would include the assets, liabilities, income and expenses.  The Bookkeeping will be separated into the relevant accounting periods and recorded in the ledgers and daybooks of a business.  It is common for a lot of people to confuse Bookkeeping with accounting, accounting does include the recording of transactions but it also then includes the verifying and the reporting of the information.  Carrying out Bookkeeping throughout the year, even if only done to a relatively basic level, will reduce the costs of the end of year financial accountant.  If business owners are looking to carry out the Bookkeeping themselves this can either be done manually or by using off the shelf Bookkeeping software, such software makes the process quicker and easier to carry out for someone with little experience.

Whilst Bookkeeping is still important most businesses nowadays are looking for something which also provides them with reliable information and reports throughout the year.  At Accountancy & Business Consultants Ltd as well as carrying out the traditional Bookkeeping by recording all the transactions we look to take the Bookkeeping work to the next level of accounting by turning the Bookkeeping information into relevant reports and information which can then be used by the business managers/owners to know the position of the business throughout the year and carry out informed decision making using up to date relevant information.  Such accurate and detailed Bookkeeping and accounting would then significantly reduce the costs of the end of year financial accountant and make the process much quicker and simpler, in fact Accountancy & Business Consultants Ltd can take care of the whole procedure for you.

Now please visit our Home page for more information