Book keeping is a must for any organisation to record its business transactions in a systematic and approved method. Book Keeping provides a reliable base to process and analysis all the transactions of business. It helps various stake holders like investers, managements and regulartors to access valuation and goodwill of any business. Book keeping also helps organisation to timely compliances of various taxes, returns and other related laws.
In India maintaning proper books of accounts is also a legal requirement. As per Section 44AA, certain specified persons carrying on profession or Business are required to maintain its book of accounts in a prescribed method.
Similarly Goods & Service Act 2017 also prescribed that every registered person is required to keep its books of accounts.
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation— Dictionary Meaning
Bookkeeping Comprises:-
- Day to day recording of financial transactions. i.e. Invoicing, receipts, Bills, payments, Sale & Purchase, including any other Misc. entries as applicable by accepted Accounting Standards.
- Maintaining various registers/files/documents as required by legal provisions.
- Generation of Trial balance, Customer Ledgers, Bank Reconciliation, Cashbook, Bank book & others.
We At “Accurico” provides you single stop solution to your need of Book Keepers in a very unique,advanced and transparant way.
“Making good judgments when one has complete data, facts, and knowledge is not leadership – it’s bookkeeping
-Dee Hock (founder and former CEO of the Visa credit card association.)”
“Few have heard of Fra Luca Pacioli, the inventor of double-entry bookkeeping; but he has probably had much more influence on human life than has Dante or Michelangelo.
-Herbert J. Muller”