BOOKKEEPING
Bookkeeping is the practice of recording and tracking the financial transactions of a business. Bookkeepers regularly summarize this activity into reports that show how the business is doing.
Cloud Bookkeeping
Cloud bookkeeping refers to the practice of managing and maintaining financial records using cloud-based accounting software. Instead of using traditional desktop software or manual methods, cloud bookkeeping leverages online platforms to handle various accounting tasks. We will be taking care of your bookkeeping and ensure the accuracy of your records.
On-Site Bookkeeping
On-site bookkeeping services involve a professional accountant or bookkeeper coming to your business location to handle your financial record-keeping tasks. For Small and Medium businesses where location is contraint, we will be coming to your premices and taking care of your books of accounts on regular basis.
Automation in Bookkeeping
Automation in bookkeeping involves using technology to perform repetitive and routine accounting tasks, reducing the need for manual data entry and minimizing human error.
Key Areas of Automation in Bookkeeping :
Data Entry
- OCR (Optical Character Recognition): Scans invoices, receipts, and other documents to automatically extract and input data.
- Bank Feed Integration: Automatically imports and categorizes transactions from bank accounts and credit cards.
Transaction Categorization
- Rules-Based Automation: Uses predefined rules to categorize transactions into the appropriate accounts (e.g., office supplies, utilities).
- Machine Learning: Improves categorization accuracy over time based on historical data and user corrections.
Reconciliation
- Automated Reconciliation: Matches transactions from your books with bank statements or other sources, flagging discrepancies for review.
Invoicing and Payments
- Automated Invoicing: Generates and sends invoices based on predefined schedules or triggers.
- Payment Processing: Integrates with payment gateways to automatically record payments and update accounts.
Expense Management
- Expense Tracking Apps: Automates the tracking and categorization of expenses through mobile apps that capture receipts and sync with accounting software.
Financial Reporting
- Customizable Dashboards: Provides real-time insights and financial reports with automated data aggregation.
- Scheduled Reporting: Automatically generates and sends periodic financial reports to stakeholders.
Compliance and Tax Filing
- Automated Tax Calculations: Calculates taxes based on current regulations and transaction data.
- Document Storage: Stores and organizes tax documents and records for easy access during audits.
"Bookkeeping Brilliance: From Receipts to Reports, Smarter Solutions for a Thriving Business!"
- Progressive Tax Consulting Group
