Cost Benefit Analysis-Whether you should outsource your Bookkeeping to Professional Book Keeper.

What is a role of a bookkeeper in your organisation :

BOOKKEEPERS keep complete, up-to-date, and accurate records of accounts and financial arrangements. Bookkeepers verify and enter information into journals and ledgers or into a computer. They periodically balance the books and compile reports and financial statements. Bookkeepers also receive, record, bank and pay out cash. They balance checkbooks with monthly bank statements. They may calculate employee wages from plant records or time cards and issue payroll checks. Some of the other work they may do includes posting accounts receivable and payable, prepare and make bank deposits, record payrolls, maintain inventory records, purchase supplies, prepare purchase orders and do expense reports. Bookkeepers may also make schedules, sort documents, and file bills. These type of jobs are found in every industry and may have various job titles, such as accounts payable clerk, accounts receivable clerk or assistant bookkeeper.

Cost of a Bookkeeper :

The pay for these jobs depends upon experience, clerical skills, the level of responsibility and the job location. Beginning salaries go from minimum wage to $ 15 per hour. Experienced Bookkeeper can make $ 20 an hour. After having worked for three years with the same firm, a Bookkeeper can earn at $ 25 per hour. A Bookkeepers usually work 40 hours a week; sometimes it may be necessary to work overtime. Some employers have fringe benefits such as paid vacations and sick leave, life and health insurance, and bonuses. Other benefits that the employer may include are participation in a credit union, or retirement and profit sharing plans.

Advantage of outsourcing Bookkeeping work to a professional bookkeeper :

There are several distinct advantages to outsourcing your bookkeeping functions. First and foremost is saving money. You get what you pay for and if you don't pay for quality than you won't have quality service. However, you can save money by outsourcing because you won't be paying for employer payroll tax expense, workman's compensation and general liability insurances, vacation time, sick time, health insurance and other benefits a good full time bookkeeper will expect from his/her employer. Just remember, however, that these costs will be built into the consultant's hourly rate and their fee will reflect these costs. Any bookkeeping consultant who has not taken these costs into consideration is not a bookkeeper you want - if they don't know enough to include these costs into their fees, then they don't know enough to be a help to your business. You should expect to pay at least three times what you would pay an experienced full charge bookkeeper.

And just how do you save money by paying three times the amount you would pay an employee? Well, let's see. There will be no recruiting, interviewing and training costs for start. And if you should find yourself unhappy with the services there will be no additional recruiting, interviewing and training to replace your bookkeeper. Also, you will not have to be concerned about law suits such as sexual harassment, unlawful firing, age discrimination, sexist, etc....

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How to choose the right Bookkeeper

Outsourcing your bookkeeping activities to a professional service provider is a great way to save your company lots of money and time. It can turn out to be a disaster if you don’t carefully screen the potential bookkeeper. So it would be better to keep some points in mind while looking for professional bookkeeping services.

Choosing a bookkeeping service depends on your requirement of the level of service you want and your budgetary allocation for this purpose. One can avail of a full service monthly bookkeeping service or can limit making use of the bookkeeping service to handle payroll and taxes only. Make sure that have they been in the bookkeeping business for a reasonable period of time and have references that you can check with. Recommendations are always a good way to consider while choosing a quality bookkeeping service.

There are several features and traits that are associated with excellent bookkeeping personnel and you should try to find a service provider that employs people with these skills and talents. They should have a penchant towards number crunching exercises and have a greater grasp of the relevant financial concepts and polices. In short, they should possess the required qualifications and relevant experience in their area of work.

The right bookkeeping service providers will keep a host of people who are endowed with good analytical abilities. This skill aids them in reviewing all the information and data related to your business and gain a clear picture about each component’s repercussion on others.

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Why small business bookkeeping company?

Bookkeeping is an important work for small to large business and need extra attempt and care. If you own a small business, it is your responsibility to develop and requires special care as to the accuracy of managing and accounting financial records, the growth of your business depends on the financial records management. Your small mistake can affect the success of your business.

If you are a small business you must have to think about your budget if you want to hire a professional accountant or bookkeeper for your business accounting and bookkeeping. Hiring such bookkeepers will cost you some extra dollar and nowadays, it is very hard to find expert bookkeepers within your budget. In such scenario, appointing outsourced bookkeeping service provider is the best way available to fulfill all your accounting and bookkeeping requirements and that too within your budget.

Another major problem, that many small business facing is limitation of time. If they use their time to resolve financial issues, then it will be difficult for them to focus on their core business functions. But if they hire a small business bookkeeping service provider they can get out of such issues and can spend their precious time to create new business strategies.

Small Business bookkeeping provider will comprehend all your needs and give you a complete bookkeeping service from day-to-day transactions detail to preparing financial statements monthly and annually. They will help you to manage your accounting and bookkeeping in such a way that you can easily access it anytime anywhere. Small Business bookkeeping service provider will help you and make you stress free at the time of tax filling, because they keep up-to-date financial transaction records which you required at the time of tax calculation and tax filling.

Therefore now you just have to locate the affordable small business bookkeeping service provider with the team of expert accountants and bookkeepers to perform all your bookkeeping and accounting needs.

Hitech Bookkeeping Services (http://www.hitechbookkeepingservices.com) is a leading provider of accounting and bookkeeping services for small, mid-size and large businesses across the globe. If you require more information about our bookkeeping services, please contact us at info@hitechbookkeepingservices.com

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Small Business bookkeeping - avoid bookkeeping problems

Small business bookkeeping is one of the most recent and most admired technique that have drawn attention of many companies. The owners of these companies have opted for such small bookkeeping because they have found that many large companies are very busy in performing their tasks. For any business organization regardless of size or type of their own needs and strategies that will help a lot in their particular industry. But bookkeeping and accounting is one of the process that is used and necessary by every type of business.

It is vital for any company to have good planning and effective use of bookkeeping in order to make their philosophy work in the best possible manner. But, it has been observed that it is a widespread problem with most of the small companies as they fail to have such well-organized bookkeeping system and procedures. This is first and foremost because of the fact that there is unprofessional conduct and improper guidance in such small companies. These companies spotlight more on the tasks that are related to their product development and marketing and fully overlook the bookkeeping needs. The reprehensible management of the financial statistics in any business serves as a main obstruction in the overall development of the business. Thus, it is vital to have a competent small business bookkeeping to make huge profits for any business.

The small businesses usually are the low profile houses that in fact cannot meet the expense of in-house bookkeeping staff. In such circumstances, hiring a small business bookkeeping company is a very wise idea as they are cost-effective and easily approachable. They can produce reports, store data, manage the financial details and perform calculations in the most planned way. Such types of assistance come from the outsourcing firms and professionals. Though, it is very important to make sure that one hires well-organized and capable bookkeepers or else you may lose a large amount of time as well as money.

Finally, the businesses can also take the guidance of these bookkeepers in order to generate the expert financial solutions in case of economical downturn and defeat them with easiness and comfort.

To know more small business bookkeeping, please visit: http://www.hitechbookkeepingservices.com

Simplify Your Business Process Using Small Business Bookkeeping Services!!

Bookkeeping is an important task for small to medium sized business and it requires extra efforts and care. If you are a small business owner then your responsibility will increase and it requires extra cautious for accuracy and management of accounting and financial records because the overall growth of your business is depends on the financial record management. Your little mistake can affect you in the way of your business’s success. Outsourcing small business bookkeeping service is the only available option for small business owner.

If you are a small business owner then you need to think about your budget if you want to hire an accounting professional for your business. Hiring such accountant may be going out of your budget as expert bookkeepers are really hard to find nowadays. In such situation hiring small business bookkeeping services provider is the best option available to fulfill all your requirements according to your budget.

Another issue rises with small business owner is limitation of time. If they spend their time for finance related issues then it will tough for them to concentrate on their core business activities. But if they are hiring small business bookkeeping service provider then they can get out of the troubles of bookkeeping and accounting and can utilize their precious time to make new business strategies.

Small business bookkeeping will understand all your requirements and will provide you the complete bookkeeping services form day to day transactions detail to preparing monthly and annual financial statements. They will manage your bookkeeping and accounting records in such a way that you can easily access, update and retrieve your financial records. Small business bookkeeping will help you to become tension free at the time of tax filling because they keep every record updated which you required at the time of tax calculation and tax filling.

So now you just have to find the affordable small business bookkeeping service provider with the team of expert professional to fulfill all your bookkeeping and accounting requirements.

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For Small Business Accounts Read Bookkeeping Spreadsheets

There is a major difference between sophisticated accounting software used by larger businesses for financial control purposes than is required for small business where a simple bookkeeping spreadsheet is sufficient.

An accountant needs to not only ensure the financial records are accurate but also retrieve any part of the accounting records to answer accounting questions on the accounts, provide a legal basis for the transactions and report the financial statements at regular periodic intervals.

Accounting is a term that embodies a whole raft of financial activities while bookkeeping is specifically literally the keeping of books of account. For non limited companies that do not need to produce a balance sheet then a simple income and expenditure account can be produced much simpler using single entry bookkeeping principles.

Less financial control is often required from small business accounting software as the bookkeeper is often the owner manager who already has an intimate knowledge of each transaction. Books are still required for tax purposes and a solid requirement of preparing a set of financial books for tax purposes is that each entry is supported by third party evidence.

The prime accounting documents providing back up are sales and purchase invoices or receipts and bank statements. Financial transactions where no receipt exists can still be entered in the business books although all transactions not carrying third party evidence could subsequently be disallowed for tax purposes and certainly would be if the amounts entered indicated unusual income or expenditure.

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Pros and Cons of Doing the Bookkeeping or Outsourcing to a Bookkeeping Service

Every small business is required to keep bookkeeping records to produce at the end of the financial year a set of accounts to show the sales income, business expenses and the net profit for tax purposes. Medium and larger businesses employ accounts clerks, bookkeepers and accountants to maintain the financial records and produce regular accounting information.

Small business and in particular self employed business have a choice in how the financial accounts are prepared and produced. A small business may employ the services of a bookkeeper to produce the accounts while another similar business may keep a manual record of financial transactions while a third option is to use a bookkeeping software system.

Small business has a choice as to how it produces its financial records. Some simply do nothing but the best option is to make a finite decision regarding the path to take. Financial accounts, financial control over the business activities and the knowledge of how well or badly the business is performing is crucial to success in the business environment.

The underlying necessity is that if the small business does not take a decision on its financial accounting then at the very least it must accumulate documents of prime significance such as sales invoices, purchase invoices and possibly bank records during the financial year and assemble these into some sort of order after the end of the financial year for tax purposes. Failing to keep financial records often results in a succession of administrative burdens and often also leads to financial penalties if taxation deadlines are not met.

The major disadvantage of a small business keeping manual records is that documents get lost which may result in profits and taxes being over declared, fines and penalties through inaccuracies and often when accounting is produced in this way it is done at the end of the financial year purely for tax purposes rather than as an essential tool of the business and that reduces financial control within the business during the financial year to a minimum and often zero.

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Why Bookkeeping and Accounting help?

All small expenditure or profits can make a disparity in the business ledger books. Therefore, it is vital to keep accurate accounts of the everyday transactions of a business to make sure that maximum resources have been optimized. An organization often employs well experienced accountants to keep up the day-to-day transactions record. This results in the firm blocking a good amount of human and financial resource in accounting regular business transactions. In such scenario it would make practical sense for the business to avail outsourced accounting help to keep the regular accounts. This helps in better utilization of on hand resources and also ensures accurate maintenance of accounts.

A company providing bookkeeping and accounting assistance to different business organization must employ professional qualified accountants and bookkeepers who can able to manage the latest accounting software to sustain the financial data of the client. The outsourcing bookkeeping company must be well-organized to provide a day-to-day account of the transactions of the business as a result a precise record of the financial status can be given to the company at a short notice.

Business house can be rest assured about their accounts because outsourcing firm will offer customized services to cater each client’s need also the staff is well versed with the bookkeeping and accounting software and processes. Having well structured financial transactions records will help you to apply for a loan and as each and every transaction is accurately maintained, you application for loan is easily sectioned.

An overwork may be result in some discrepancies in the day-to-day accounts. Such discrepancies cannot be affordable within business, because it will cost you a lot in later stage. Thus, availing accounting help from outsourcing firm would be the best idea and can take off the extra burden from the business. A business can therefore focus on other core areas such as profit generation; growth and expansion when it has outsourced accounting help to give it the competitive edge.

Hitech Bookkeeping Services (http://www.hitechbookkeepingservices.com) is a leading provider of accounting and bookkeeping services for small, mid-size and large businesses across the globe. If you require more information about our bookkeeping services, please contact us at info@hitechbookkeepingservices.com

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Accounting Outsourcing Service is the Synonym for Saving

Is your accounting firm business running in loss? Then outsourcing is the only option left for your firm to come back strongly. This service is a life-saver for your business. Accounting outsourcing service is meant to save your money and improve the financial condition of the firm. Usually, the accounting services of a firm are outsourced when they are over-loaded with work. When the professionals are not able to handle the work in their firm, they shed some of their work load on the outsourcing companies.

Accounting outsourcing service will enable the accounting firms to concentrate on the other crucial areas of the business. This will help them to earn greater profits. Mainly, because of the workload, outsourcing services are gaining a world wide acclaim. Accounting firms are constantly outsourcing their services to cut-down on the capital expenditure.

Accounting outsourcing service ensures better quality of service. It is because the companies handling outsourcing services concentrate thoroughly on the accounting work. Many accounting firms outsource various accounts related tasks, such as invoice generation, generating accounts, financial statements, trial balances, profit and loss account, pay roll processes, checking credit card accounts and lots more. Outsourcing these services will save your money that would have been wasted in hiring a proper staff for managing such accounting tasks.

The growing demand of outsourcing has enabled various outsourcing companies to emerge as a perfect solution for accounting firms. Almost every one of them offers online services. This will save your precious time that gets wasted in running around to manage your accounting tasks. Accounting outsourcing service is the best way to get rid off all the tensions and worries that were cropping up in your accounting firm. The accounting firms are assured of getting effective and efficient services from the outsourcing companies by giving all or some part of their accounting work to these companies.

The accounting outsourcing companies are specialized in managing the overloaded task of various companies, because they have professionally trained staff for handling the accounting and other matters. These companies understand the need of getting things done at a faster pace. Such outsourcing companies are a boon for those accounting firms that are unable to manage their work. You can even monitor your work done by the outsourcing firm.

Accounting outsourcing service has become almost mandatory these days for the over-burdened accounting firms. The accounting firms that are outsourcing their services are able to save huge amounts of money. The outsourcing companies don’t have to give higher salaries to the staff, medical expenses, conveyance charges and house allowances to them. In place of this, the accounting firm will give certain amount to the other company for managing the accounting tasks. This process will help them to manage their capital expenditure. If your accounting firm is overloaded with work, you can outsource the work to save your time, money and other resources.

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Small Business Advice: Improve Your Accounts Receivable Collection Cycle Now

Almost any small business can use advice on how to improve its collection cycle. The first line of defense against late payments is a complete invoice. Your bills should be accurate, detailed and easy to understand. If difficult to understand, then your client will need to call for additional information. That translates into "you have been added to their to-do list," which increases the time of your collection cycle. Include on each invoice:

- Your company's contact information: name, address, tax id number, phone and contact person
- The date the invoice was prepared
- The customer's name and address
- A description of the goods or services sold to the customer - itemize, if possible (An itemized bill is harder to contest.)
- The amount due, with sales tax amount broken out
- When the invoice is due

Once prepared, send invoices promptly. Another piece of small business advice is the longer you take to bill a customer the less likely you are to receive payment for the goods and services provided.

Many of my business mentoring clients are surprised to learn that the step requiring the most amount of time in the cash conversion process is the time it takes to collect on a customer account. The cash conversion process begins the moment they make contact with the customer, and ends when they have received and deposited payment from that customer; hopefully this cycle repeats itself each month.

The time it takes my business mentoring clients to collect their accounts receivable is measured by the average accounts receivable collection period. The average accounts receivable collection period is an important indicator for determining when their business will be paid for the goods and services it provides.

This simple calculation gives you a powerful tracking tool that helps you adjust your cash in-flow on an as-needed basis:

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Bookkeeping Business Tips for Developing Reliable Financial Projections

Financial forecasting reminds me of the weather - you make your forecast at a moment in time based upon the information currently available. You draw a conclusion and state your financial forecast. But then, the information changes, now it's raining, and you're caught without your umbrella!

Financial forecasting, unlike the weather, isn't a science but it's not pure guess work either. It is a combination of:
- knowing your business;
- understanding your marketplace;
- setting goals; and
- using common sense.

As a business coach, I know that every small business needs to make reliable financial projections at one time or another. Forecasting is critical during the following stages of a company's life span:
- when seeking financing
- gauging the profitability of a new product or service
- determining the impact of staff expansion or cutback
- assessing other business decisions

The many components of forecasting boil down to the following five bookkeeping business tips that for years I've shared with business coaching clients:

Bookkeeping Business Tip #1: Review Actual Year-To-Date Results

Start by looking at where you've been. If you use an accounting program like QuickBooks you can print out a Profit & Loss statement showing year-to-date results. Check the statement for all financial transactions that occurred up to the date of the report. Reconcile the report to your bank statements. (If you don't use an accounting program or bookkeeping service, then take the difference of the total year-to-date cash receipts and total expenditures. This should equal your profit or loss.) Examine each line item to make sure that it makes sense - is your year-to-date revenue figure where you anticipated, or has it fallen short? Are expenses higher than expected?

Bookkeeping Business Tip #2: Establish Goals and Incorporate into Your Forecast

What do you wish to accomplish by year's end? Do you want to introduce a new product or service, increase revenue on existing products or services, decrease spending, hire a new employee, outsource a bookkeeping service, or launch a marketing campaign that will position the company for the beginning of next year?

Write out your objectives and then choose three to five which are the most important to accomplish by the end of the year. Determine the needed steps to achieve the objectives. Which Profit & Loss line items will be impacted? Adjust your forecast accordingly. For example, your goal may be to increase revenue 10% by year's end or to launch a marketing campaign now so its benefits will be felt in the first quarter of 2009.

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Why small business bookkeeping outsourcing?

For an accurate maintenance of business accounts in an organization, bookkeeping and the account books maintenance is of highest importance. This is because the market situation is always fluctuating and you do not know which way it will turn. The continued existence and growth of a company, but to find their strong position in the market requires business owners to go for bookkeeping outsourcing services. Generally, this is done to control their financial records and append quite a lot of other constraints, which further assist in the development of the company. Actually, small business bookkeeping outsourcing is a smart way to make annual estimate for paying up the taxes.

Bookkeeping records are particularly useful in the preparation of tax reports. These are provided by qualified experts in all aspect of bookkeeping and other areas. Moreover, the small business bookkeeping outsourcing services are hired because of its cost effectiveness factor. As a result, a big amount as operation expenses can be saved that otherwise goes in satisfying the demands of the in-house staff. And the same amount can be utilized purposefully to boost the growth of a small business organization. As bookkeeping needs constant attention, one of course desires dedicated personnel to undertake it.

Keeping the track of business operation needs accounting and bookkeeping services. A range of bookkeeping services help in lowering the business’s operational expenses by 40-50%. Small business bookkeeping outsourcing has become much easier to perform with the arrival of latest technologies and software.

Going on in the right way is what guarantees you of the success of your small business undertaking. All small business bookkeeping outsourcing firm has a team of experienced auditors, accountants and bookkeepers who are expert in auditing and supplying financial documents. As far as the confidential documents security is concerned, most of these firms have world class security system in place to ensure maximum data security. Thus, you don’t have to worry about data security. The staffs are under firm observation and are not allowed to access gadgetry or any other material.

In a nutshell, outsourcing small business bookkeeping is a smart move and will give you higher return on investment in a long run.


This article has been provided courtesy of http://www.hitechbookkeepingservices.com – specializing in bookkeeping and accounting services such as Accounts Receivable, Accounts Payable, Bank Reconciliation, Financial Statement and Balance sheet Preparation, General Ledger Maintenance, and Payroll Processing. To know more about bookkeeping and accounting drop an email at info@hitechbookkeepingservices.com

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Book Keeping Tips for Small Businesses

It is important to maintain a clean accounting book of your business for tax purpose. This will save you a lot of hassles in the near future. Book keeping is the process of maintaining all the records and transactions of a business. Transactions that are tracked are revenue, expense, profits, net profits, dates of transactions and other details.

The reason why book keeping is important to small businesses is because it allows the owners to know exactly what is happening in their business. To make your business grows, you must know the numbers well. Details like revenue and expenses are important numbers that you cannot afford to miss out on.

If you are running a start-up, I will advise you to outsource book keeping to a professional accounting firm. As the number of transactions and details of your business are manageable, you do not need to hire a full-time book keeper. You can now easily find professional accounting firms that help you to maintain your book at an affordable rate.

To save hassles, it is advisable to maintain your book regularly. It should be done either weekly or bi-weekly. This is to ensure that all transactions are noted and enable you to know the current status of your business. Healthy cash flow is what makes a business flourish. You need to make sure that your business cash flow is always positive.

Professional book keepers will either use their own software or a spreadsheet to maintain your book. You must provide them with all the necessary documents such as receipts, invoices, payment vouchers, etc. All other documents that used to track the transactions of your business must be provided.

The price of a book keeping service usually depends on the amount of work that needs to be done. Depending on the size of your business and transaction volumes, book keepers will quote you a fair rate for the service.

If your business deals mostly with cash, it is extremely important that you get a book and record all the daily transactions. Cash is harder to track and therefore simple recording should be done daily.

Before you decide to hire a company, conduct a research on the Internet. Go to Google or Yellow Pages to look for a list of accounting firms. Shortlist a few and call them up. Tell them what you need and gather some quotes before hiring one.

Book keeping is necessary for tax purpose. Therefore, it is important for you to maintain it properly to save your company a lot of trouble.

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Small Business Accounting Software Can Improve Business Performance

Every business functions through a range of disciplines, sales and marketing, operational skills, purchasing and management. Small business accounting software is an essential tool to bring financial control to the business. No matter how skilled and well trained the business every small business needs a full range of functions to reach the highest levels of success.

Liquidity is a first lesson in business to ensure that business has sufficient cash to trade the next day. Failing to meet this target and the business is finished which is why financial control which can be provided by accounting software should be regarded by the small business management as an essential piece of kit.

Suitable small business software is available to suit every type of business and can vary from a simple spreadsheet arrangement to sophisticated databases. The choice to adopt a solid financial control system is vital to ensure sales are high enough to generate profits, gross margins are sufficient, expenses are controlled, net profits are generated, cash flow is under control and losses can be identified and reversed or halted. No large business would survive without a sophisticated system of financial control and small businesses have the same requirements albeit on a different scale but usually with more devastating effects.

Operating the finance function of a small business may seem to be an administrative burden but is actually a vital tool to assist the generation of safer stronger profits growth and the early warning system of dealing with problems if the business does not perform.

Use the small business accounting software to update the financial records at least once each month. With sales recorded every month peaks and troughs in performance are obvious and can then be examined to replicate those actions that produced higher sales levels and cut out those actions which produced lesser results. The result hopefully being sustained sales growth.

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General Ledger Maintenance by Hitech Bookkeeping Services

Hitech bookkeeping Services (http://www.hitechbookkeepingservices.com) offer wide-ranging general ledger maintenance and accounting general ledger services in USA, UK, AUSTRALIA, and EUROPE.

Hitech Bookkeeping Services provide cost effective and time saving general ledger maintenance services. Our general ledger maintenance services help our clients to get solution of their simple to complex problem. We deliver high quality results at an affordable price.

Hitech bookkeeping Services (http://www.hitechbookkeepingservices.com) offer wide-ranging general ledger maintenance and accounting general ledger services in USA, UK, AUSTRALIA, and EUROPE. We provide high quality, in time work, effective price, and valuable customer service; we offer best services with a total dedication to quality.

Hitech Bookkeeping Services give you the stretch to outsource your bookkeeping or accounting department to us or obtain support in a specific area like general ledger maintenance and general ledger reconciliation. Our bookkeepers and accountants can support you in various purpose associated with your bookkeeping requirements.

We provide following general ledger accounting and reconciliation services

• Adjust for prepayments and accruals
• Process asset purchase, disposal and depreciation journals
• Process stock movement and adjustment journals
• Process payroll journals
• Process lease, purchase, loan and dividend journals
• Review all general ledger accounts and correct any posting errors
• Reconcile all balance sheet control accounts
• Provide copies of all journal entries made together with a detailed narrative of why the adjustment was made

Hitech Bookkeeping Services general ledger services include financial reporting, analyze financial data, preparation of financial statements and reports. Outsourcing general ledger maintenance services has vast range in today’s world.

Advantages of outsourcing general ledger maintenance services are:

• Reviewing of monthly expenditure reports of a company
• Processing month-end general ledger reports
• Year-end closing of the general ledger
• Preparation of auditor review records along with a continual uninterrupted accounting software support
• On-demand support to your accounting personnel

If you are interested in outsourcing your general ledger services work to us, we will be pleased to give you a quick overview of our general ledger services.

For more detailed information about our general ledger maintenance services, bookkeeping, and accounting services, log on to http://www.hitechbookkeepingservices.com/general_ledger_maintenance.php or if you have any specific requirement email us at info@hitechbookkeepingservices.com.

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Small business bookkeeping outsourcing: Discipline your finances and see your business booming

For a proper maintenance of business accounts in a young organization, bookkeeping and the maintenance of account books is of utmost importance. This is because the scenario of the market is always fluid and you don’t know which way the tide turns. The very survival and growth of a company, yet to find its feet in the market is what prompts the financial advisers to go for bookkeeping outsourcing services. Usually, this is done to discipline their financial records and add several other parameters, which further help in the growth of the said company. Small business bookkeeping outsourcing is actually a smart way to make annual calculations for paying up the taxes.

Bookkeeping records are especially helpful in preparing the tax reports. These are prepared by the experts adept in every aspect of bookkeeping and other details. In addition to that, the small business bookkeeping outsourcing services are hired from the outsourcing firms due to the nominal rates they charge. Thus, a large amount as revenue expenses can be saved that otherwise goes in fulfilling the demands of the in-house staff. The same amount can be used purposefully to drive the growth engines of a small business organization. As the job involves an eye for detail so that every aspect is cared for, one naturally wishes committed personnel to undertake these. Small business bookkeeping outsourcing is actually seen as an answer to maintaining most of the tedious details of accounting. The hassle free procedure is of immense help, to the accounting firms, as this generates their internal CPA’s, which further helps in using their resources for generating new business leads.

Keeping the track of one’s business requires accounting and bookkeeping services. A wide range of services assist in lowering the costs by 30-40% and the outsourcing departments are famed for their vast expertise. Technologies which surprise and the bookkeeping outsourcing methods are razor-sharp to speedup the work of preparing the tax and the financial statements. The accounting and bookkeeping services are hired for certified public accountants, small and medium business enterprises and accounting departments and the accounts departments and other small entities. Small business bookkeeping outsourcing has been made much simpler with the arrival of latest state of the art technologies. The professionalism, which drives the work of the accountants, is seen to be believed.

Proceeding in the right manner is what assures you of the success of your small business undertaking. Supply of financial documents, through the fax or otherwise is the initial step. Afterwards, they are audited by the experienced auditors and then their status is periodically checked by the clients via the web enabled document management system. This service is open round the clock, so that doubts get cleared at any point of time. The security system is truly world class and strict background checks are done to ensure maximum security. The employees are under strict watch of the higher ups and the access to the gadgetry or any other material is not permitted. Working with some of the reputed organizations of the world, ensures a keenness for meeting the challenges, however, tough they might be. The confidentiality of the data is strictly maintained by the small business bookkeeping outsourcing firms.

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Accounting Informational Systems

Just several years before, people, whose work consisted in conducting the financial account of organization, were engaged in much more tedious work than now. Now, these workers are helped by machines – computers, the computer programs are specially created for the conducting of such kind of work. Some people can say that before also existed such «machines», but do you remember how much nerves it cost for you just to reprint this miserable payment because of casual jamming of the keys?! Before, work which was conducting during the whole day by several workers, computer makes immediately, you just need to enter information and all is done. So what does it mean actually«It is the golden age for small and middle-size business»? It means that for the conducting of business, businessmen don’t necessary need to hire a lot of skilled employees, they can simply purchase good computer with specialized, for their type of business software. In this way owners of the business will save money (decreasing amount of money spending on salaries and production) and produce more free time in oder to do something else for earning more money.

Now, I would like to turn your attention to an accounting information system and explain what it is. So, accounting information system is database which emits bookkeeper to meet his engagements. Bookkeeper’s engagements means record keeping in accordance with the legislation. Legislation, unfortunately, compels Ukrainian bookkeeper to conduct accounts of two types: tax, book-keeping.

For the conducting of book-keeping and tax accounts a book-keeper needs information. Namely: agreements, date of conclusion, sum, terms of payment, date of fulfilling a commitment.

It is principally significant that an accountant will make actions only having on hands an agreement or writing active document about transferring of the money to a supplier or the extract of an account to a buyer. For posting, i.e. reflectioning in an account, on the accounts of record-keeping, for example - receiving materials, an accountant can with help of a computer network get information from a storage which is, maybe, hundreds or thousands kilometers away, that materials are acted on a storage. So for accountant, regard to Accounting IS, for him it is not necessary to wait till papers will be brought.

Development of computer technologies influenced very much on the whole world not speaking just about separate part - accountings information systems. With development of computers, develops software under each type of computers. For example about 5 years before accountants prepared the annual accounting in OS - DOS that was an innovation for many and a little bit difficult because far not all people could afford a computer, and work in DOS required from a user certain skills of work in it. Nowadays appeared more powerful computers as a result appeared other operating systems, accordingly other programs. Today, practically everybody is able to use a modern computer, and the use of accounting’s programs became simple and clear for the people who work in this sphere.

Creation of machines able to get and pass the enormous volume of information influenced in sharp reduction of time for treatment of information and terms of making a decision, reduction of amount of people working for an enterprise.

Before on storages worked a lot of people which wrote down the name, amount, cost of got and given out materials in the paper cards of account. Then they made themselves «Financial report after several month several year». In this gaps were put information about arrival and expense of materials.

In conclusion it is obvious to point out that today, each business conducts all this work with help of programs: informational, accounting and etc. Technique development allowed to create such structures of bookkeeping programs which allow to take into account everything to the little things in the mode of the real times. If some years before for treatment of accounting payments people required a month, than now, if you have all required documents, acts, payments it is matter of two days. Only regard to development of technique’s «opportunities» - we can take into account and process more large amounts of information. Development of technique results in possibility of creation of more difficult (I mean detailer) informational systems, including book-keeping, complicating (going into a details) the structure of the informative systems of accountant, and simplifying book-keeper’s life.

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