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Fast and Effective Computerized Bookkeeping .pdf


Original filename: Fast-and-Effective-Computerized-Bookkeeping.pdf
Author: Maulik Kotak

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Fast and Effective Computerized
Bookkeeping
Bookkeeping often involves recording of business transactions on a daily or periodical basis.
Bookkeeper needs to monitor all the business activities such as capital invested, purchases made,
sales, cash payments to creditors, bill payments, credit purchases and sales, cash withdrawal from
commercial banks, inventory tracking et.al.
All gathered data are recorded in the books of Journal, and are later posted into its respective
accounts in the Ledger. During the end of the financial year or for the period decided by the owner
of the business, the bookkeeper prepares the final accounts. Preparation of final account involves
preparation of Capital account, Profit & Loss account and Balance sheet. Final accounts gives a
summarized information of the business proceedings in the previous year and help to devise a well
planned out strategy in the upcoming year.
Nowadays, bookkeepers use computerized accounting softwares to record the business transactions.
Distinctions between bookkeeping and accounting have become blurred with the use of computers and
accounting software. For example, a person with little bookkeeping training can use the accounting
software to record vendor invoices, prepare sales invoices, etc. and the software will update the
accounts in the general ledger automatically and thus reduces the amount of effort required to
record transaction considerably. They also help to view or format data and export them to other
applications and generate printable reports. Computerized software these days are able to generate
the financial statements for the entered data with the click of a button.
Bookkeepers in Crickhowell have come out with a four step process to address address the needs of
clients in a customized way
Discover - Through Initial Consultation - Work towards thoroughly understanding client’s unique
accounting needs
Develop - By Providing Customization - Develop processes and solutions that would fully integrated
with the business model of the client

Distribute - For Easy Relocation - Safekeeping all the books of accounts into a secured online
network for easy access from any of the branch office
Deliver - Results - Producing financial statements ensuring maximum integrity and compliance
A Bookkeeper helps a business to determine ‘what financial data goes where’ and what systematic steps
ought to be carried out to help a business get its true financial position. They are also assist their clients

in calculating tax due and online filing of tax returns. Many bookkeepers who may be promoted to play
the role of accountants provides valuable advice and suggestions that are in best interest of their clients.
They are often involved in analyzing the current marketing trends and business outlook to assist their
clients in decision making, cost cutting, portfolio planning, earning maximization and tax reduction.

www.accendoaccountants.co.uk


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