Book Keeping

Accounting is an entirely different field of work. Even though a business can’t be judged and is worth nothing without its annual financial reports, not everyone can do it or understand its jargons without comprehensively studying accounting and finance. Any mistake in your financial statements would cause a bad impression on the readers. Bookkeeping is the initial step of preparation of financial reports. It involves management of all your books, ledgers and accounts. This is a huge responsibility that requires immense amount of effort. It gets extremely difficult for the management to supervise the finances while managing the entire business. This is the reason why we have the perfect solution for you. How about you share your burden with us? We provide bookkeeping services to numerous organizations throughout the city so they can do what they are best at i.e. profit-making and providing quality products to customers. By outsourcing your work, you will have more time on your hands to focus on business planning and growth and for plotting better strategies to reduce inefficiencies in other non-finance areas. We at A&A Associate can provide you the following service:
  • A chart of accounts (COA) will be set up for you by our accountants. This will include all the class of accounts used booked on the general ledger. Typically a chart of accounts is listed in the order of appearance of financial statements. However, we will structure your COA in a way it represents your business requirements best. Your COA, once prepared, will also be reviewed annually or whenever required, by our qualified accountants for a regular cleanup.
  • We will update your system on every visit by entering all your transactions and journal entries into the system. This includes sales, purchases, accounts receivable, accounts payable, revenue and capital expenditures and all other transactions performed by the business during the period.
  • We provide daily, weekly, monthly and quarterly visits depending on the frequency of transactions. Financial reports will also be prepared on a monthly, quarterly, semi-annual and annual basis. These reports include the following:
  1. Income statement
  2. Receivables ageing list
  3. Payables ageing list
  4. Financial ratio analysis
  5. Working capital analysis
  6. Inventory analysis BEP/MOS analysis
  7. Comparative analysis of sales and expenses
  8. Balance sheet
You can also outsource your control account processing to A&A Associate.
  • Your accounts payable system will be set up as per your business requirements. You will be able to control your purchase expenditure, avail discounts on bulk purchases and reduce payable days. Your business will have accounts payable cycle efficiency, in short. Our services also include payable reconciliation and it is understood that no late payments and charges on late payments will occur.
  • Similarly, your accounts receivable processing will be managed efficiently by our team. We will make sure that minimum bad debts occur, high liquidity is maintained and that your receivables are turned into cash quickly. Cash collection will be done by our qualified team and frequent emails will be sent to defaulting customers. Regular accounts receivable reports will also be provided.
  • Each month, when your company’s bank statement arrives, a bank reconciliation statement will be prepared for easy understanding of cash. Depending on the complexity and frequency of transactions, we will systemize your bank data on a daily, weekly, or monthly basis.
  • We will assist you in complying with your local tax laws regarding VAT. Monthly filing of VAT return will be performed by us as well as regular payment of VAT will be submitted to the local tax authorities on your behalf. Any complications in tax invoicing or VAT charge will be dealt with by our team that is regularly updated with the tax regulation and laws.
  • MIS (Management Information System) reports will be prepared by A&A Associates for your business. These reports focus on financial trends, optimization of profit, minimization of costs and efficient management of working capital by analyzing past and current data. These reports include:
  1. Trends in profit and loss over the years.
  2. Variance analysis and how to improve unfavorable variances.
  3. Allocation of overheads analysis. Sales performance analysis.
  4. Business marketing and advertising strategies.
  5. Effective cash flow management.
  6. Key indicators of business growth.
  7. Most profitable locations, customers, strategy, product.

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