Outsourced Bookkeeping Services for CPAs

1. Doing the numbers accurately is crucial. Let Bikham do it for you! Most businesses rely on the way transactions are recorded and managed. A clear and detailed record of all the transactions involved in business is vital for the seamless and efficient functioning of your business. Records can be organized on paper, or with the help of software. Be it owners themselves or taking help of a hired hand, keeping accurate records is important for any business. Without a proper bookkeeping system, a business becomes vulnerable and susceptible to legal problems and poor cash flow management issues. Smooth tax filing can be asserted with the help of proper bookkeeping practices. Financial records are the key, helping businesses sort numbers. As an exercise of caution, just keep the following information in your books:

2. Expenses and Revenue Revenue and expenses constitute some of the basic information in your books and keeping a close check on them proves to be highly beneficial. Revenue makes up the accounts receivables column in a book. It refers to the money that the business makes. Or the money it receives from the customers. Staying current on the books would imply keeping the Accounts Receivables column up to date and send bills and invoices out consistently. In the process of increasing revenue, you may end up increasing your expenses. So it is also very critical to keep a track of this part of a business. Inventory Inventories are prone to misplacement, theft, and other mishaps. Therefore, it becomes highly critical for businesses to have a clean and clear record of inventories to prevent such mishaps. Keeping inventory holdings to a minimum helps in better tracking of sales trends. One way to is to periodically test the numbers in inventory by physically counting the products in the inventory. Accounts Payable A good bookkeeping practice in terms of Accounts Payable helps make payments easier. The money that goes out to suppliers and one that is due from customers comes under the Accounts Payable column. It includes numbers, amounts, invoice dates, terms, and any amount paid or due, balances and client information, which needs to be organized and managed in a clean manner.

3. Payroll Expenses If there is one part of your book that needs to be up to date at all times, it is the payroll one. Besides being up to date, it should be highly accurate and precise. This data comes in handy during the tax filing season. However, delaying and sidelining these activities may result in severe negative consequences. Purchases Purchases are used to track material of all sorts that are purchased for business purposes. It serves as an essential variable when it comes to calculating the profits. Outsourced Bookkeeping Services for CPAs At Bikham Finance, we have a team of experienced accountants and bookkeepers who take care of your books with utmost accuracy. Available 24*7 at your services, we cater to several business requirements and offer the most efficient outsourced bookkeeping services for CPAs.