Bookkeeping is the recording of financial transactions and is part of the process of accounting in any business. Transactions include purchases, sales, receipts of inventory, and payments by an individual person or an organization. There are two different methods of bookkeeping mostly used, such as the single-entry bookkeeping system and the double-entry bookkeeping system.
Before the era of computers and accounting software, bookkeepers do a practice of manually recording on a day-to-day basis, all the financial transactions keep on journals. Then the entries which were written on the journals were the original entries and arranged in date order. Later they are transferred to general ledgers in their appropriate accounts, whereby the balance therein was calculated to be used in the company’s financial statements.
Bookkeeping in today’s modernity, is done through the use of computer software CERP, SAP, Microsoft Dynamics or QuickBooks. Even though the process has become fast and easier compared to the handwriting times of bookkeeping, practitioners in the field still need to have a proper understanding.
OpenSol Global is providing BPO services to manage all of your business bookkeeping records electronically.
Common Bookkeeping Service We ProvideFollowing are the common duties of book keeping we can take care for you:
- Recording Transactions on Daily Basic
- Creating Bills for goods sold or services provided to customer
- Verifying Invoices
- Processing payroll of all departments
- Reconciling Bank Transactions
- Tracking Accounts Receivable
- Preparing Financial Reports for Clients and Accountants