As a small to medium business owner, one can find it to be overwhelming as there are so many responsibilities and tasks that need to be performed, not only on a daily basis but on a monthly basis too. Outsourcing of the bookkeeping function could relieve some of this pressure and stress by allowing the business owner time to focus on more pertinent aspects of the business.
When outsourcing your bookkeeping function, it is important to set out your expectations at the beginning of the engagement in order for the bookkeeper to understand their tasks and responsibilities. With effective communication, not only will misunderstandings be avoided but also no tasks will slip through the cracks and a good working relationship will ensue. Best of all, once a trust relationship is built, as a business owner you may find that you off load more and more duties to your bookkeeper which may become beneficial in making sound business decisions.
Before signing the engagement letter, ensure that you use a reputable bookkeeper that will give you peace of mind that your company’s financials are in good hands. Make sure they are professional, qualified and experienced like ERH Accountants.We provide an efficient and accurate solution to your day-to-day account recording needs by completing your daily transactions within our preferred accounting package. Depending on your business needs we can do this service daily, weekly or monthly. This will ensure that you are always able to see your monthly performance and financial position as well as your working capital and cash flow.
Our bookkeeping services can be tailored according to both your requirements and budget. Services on offer are:
- Data entry processing: cashbooks, customers, suppliers, income, cost of sales, expenses, inventory, loan accounts
- Journal processing
- Depreciation and fixed asset register maintenance
- Balance sheet reconciliations: general ledger, accounts payable, accounts receivable, inventory, loan accounts
- Accounts receivable and accounts payable ageing
- Preparation of monthly management accounts: trial balance, statements of financial position, performance and cash flows
- Audit schedule preparation