What is Bookkeeping?

Bookkeeping is the process in which we keep your business’s financial records accurate, complete and up to date.

Duties usually undertaken by us during the bookkeeping process include the preparation and checking of various types of accounts for you. Your financial transactions will be recorded on a daily basis, and to verify the accuracy of the accounting, audits will be done.

All of this work can be done internally, by the manager (or in larger organisations a dedicated accounting department) or externally by a specialist accounting firm, such as Infinity Accounting.

Why is Bookkeeping important?

You’ll be able to ensure your creditors are paid on time. It will also be easier for you to follow up on any payments you may be expecting from your debtors.

Many business owners are familiar with the mad rush to get their money together when the taxman is due to arrive – if you know how much money you have, then you will find it much easier to submit accurate tax returns. This way, you’ll also avoid any legal repercussions.

Being able to efficiently and effectively review your data means you’ll find it much easier to construct charts and graphs to present to your investors. Having these resources available to you will make it easier to apply for loans as well.

With all the figures in front of you, it’ll be easy to assess whether your company is on track to meet its targets. If your company is running into financial difficulties, then you can review your accounts to identify where the problem is.

As you know, you are required to submit various documents over the course of running your business – for example, profit and loss accounts, balance sheets or an auditor’s report. You’ll have an easier time compiling these documents if your accounts are organised.

Why should you let Infinity Accounting do your Bookkeeping?

Our team has the experience, the skills, and the knowledge to keep your finances organised. We take our jobs very seriously, and it is a point of pride in our work that we are thorough and meticulous.

We’re also a friendly bunch – for such an important process as bookkeeping, you should be on excellent terms with your accountant. We’re also honest and professional, and you’ll maintain full control of your accounts.

We don’t just balance your books either – we can offer you lots of advice on what you should do with your business, based on what is happening with your accounts.