In today’s context, Accounting and Bookkeeping is considered essential component for a business entity and are often seen as the most complicated process by most audit firms. On the flip side, preparing and maintaining financial accounts on a real-time basis is both challenging and complex to handle. They are considered important as long as there is a constant business flow and there is always an inherent need for both accounting and bookkeeping services.
Taxfilingshub is an Accounting and Bookkeeping Company, having an impeccable record of executing Accounting and Bookkeeping Services in Hyderabad for all companies irrespective of size. The team who work on the accounting and bookkeeping have rich experience and expertise in handling the company’s financial accounts and persistently ensure maintaining the compliances required to remain successful in the business ecosystem.
As a part of accounting and bookkeeping we involve in the following:
- Preparation of book of accounts as per the daily financial transactions.
- Preparation of the balance sheets and predict the profit and loss account
- Get a grip on both accounts receivable (AR) and accounts payable (AP)
- Bank Reconciliation
- The expert team gets involved in financial analysis and projections.
Difference Between Accounting And Book Keeping
Bookkeeping is the process of maiantaining and recording all financial transactions of a business. It involves summarising and organizing a company’s financial transactions chronologically in a systematic manner.
Accounting is a process of interpreting, analyzing, summarising, and reporting the financial transactions of an organization. The financial statements prepared in accounting are a precise summary of financial transactions in a given period of time.