Bookkeeping & transaction processing

We provide following services to the business to ensure accurate financial records, timely updates, and compliance with regulatory requirements, laying the groundwork for effective financial reporting and management.

Bookkeeping Services

1. Recording Financial Transactions

   • Sales, purchases, receipts, and payments.

   • Categorization of transactions in the general ledger.

2. Chart of Accounts Maintenance

   • Setting up and managing an accurate and structured chart of accounts.

   • Regular updates to reflect business changes.

3. Bank Reconciliations

   • Matching company records with bank statements.

   • Identifying and resolving discrepancies.

4. Accounts Payable (AP) Management

   • Processing supplier invoices and purchase orders.

   • Scheduling and tracking payments.

   • Maintaining vendor records.

5. Accounts Receivable (AR) Management

   • Issuing invoices to customers.

   • Tracking and recording payments received.

   • Managing aged receivables and follow-ups on overdue accounts.

6. Payroll Processing

   • Recording payroll transactions.

   • Managing employee advances, deductions, and benefits.

   • Ensuring compliance with statutory requirements.

7. Petty Cash Management

   • Recording petty cash expenses.

   • Reconciling petty cash balances regularly.

8. Inventory Management Support

   • Tracking inventory purchases and usage.

   • Recording adjustments for shrinkage, spoilage, or stocktakes.

9. Fixed Asset Management

   • Recording asset acquisitions, disposals, and depreciation.

   • Maintaining an updated asset register.

10. Expense Tracking

    • Recording and categorizing employee reimbursements.

    • Ensuring proper documentation for expense claims.

Transaction Processing Services

1. Invoice and Billing Processing

   • Generating and sending customer invoices.

   • Recording and verifying supplier invoices.

2. Credit Card Reconciliation

   • Recording credit card transactions.

   • Reconciling credit card statements with internal records.

3. Loan and Lease Processing

   • Recording loan disbursements and repayments.

   • Tracking lease payments and obligations.

4. Tax Transaction Recording

   • Recording sales tax/VAT transactions.

   • Tracking withholding taxes and other regulatory deductions.

5. Multi-Currency Transactions

   • Recording foreign currency transactions.

   • Ensuring compliance with exchange rate fluctuations.

6. Intercompany Transactions

   • Recording transfers and transactions between group entities.

   • Reconciling intercompany balances.

7. Journal Entry Preparation

   • Posting manual adjustments and corrections.

   • Recording accruals, prepayments, and allocations.

8. Data Entry and Digital Record-Keeping

   • Inputting transaction data into accounting software.

   • Scanning and filing supporting documents digitally.