Accounting and Bookkeeping Companies in Dubai:- Running a business and keep track of a company’s financial transactions is very tedious for a business owner. Bookkeeping process help small companies to keep the daily financial transaction records
To run any kind of business successfully, bookkeeping, auditing & accounting is an essential requirement. To handle the process of Bookkeeping, a businessman needs Bookkeepers who work to keep the record the sales, expenses, and cash and bank transactions of the business in a general ledger.
Ledger and its accuracy are very important for the success of the business. The process of recording of all the financial transactions is called posting and a bookkeeper can also be authorized to generate invoices and/or complete payroll. The size of the business defines the complexity of the bookkeeping process and the number of transactions conducted daily, weekly, and monthly.
There are many firms that are working to handle the bookkeeping and accounting department to smoothen the process of business management. These firms are helping businessmen to have some relax.
Methods Of Bookkeeping:
Single-entry and Double-entry are two methods of Bookkeeping. The most commonly used method is double-entry bookkeeping, in this method every entry in an account requires a corresponding and opposite entry to a different account.
For example, a $40 cash sale would require posting two entries: a debit entry of $40 to an account called “Cash” and a $40 credit entry to an account called “Revenue.”
Now, Bookkeeping process becomes automated and various software are used for it. The process of bookkeeping can be done on a spreadsheet or a lined piece of paper. Bookkeeper needs to be a stickler for accuracy and completeness. Human error in accounts can be a big issue, so a bookkeeper usually works under the direction of a senior accountant.
So you can choose any of the best Bookkeeping and accounting firms like http://elevatebs.com/ that can handle the process of accounting and auditing brilliantly and make it simple for you.
Bookkeeping and accounting firms save about 8 hours per month of horrible and tedious accounting work, which is priceless. No need to spend your time in bookkeeping it means you can focus on what you really care about like helping your business succeed.
We know very well that client satisfaction is only possible with employee satisfaction and linked to career progression. We value teamwork, open dialogue and recognition ensure every person is a priority while knowledge sharing, skill development and continuous learning encourages excellence.Elevatebs is a full service firm of corporate strategists, auditors, tax advisory experts and financial and marketing analysts with over years of experience.
Elevatebs team strive to succeed by surpassing client expectations of affordability, quality and time-bound delivery schedules. Our unique business model aims at delivering customized tailored financial solutions and services.