Bookkeeping is the process of recording and organizing financial transactions for a business. It involves tasks such as maintaining general ledgers, recording sales and expenses, reconciling bank statements, and producing financial reports. Accurate bookkeeping is essential for businesses to track their financial performance and comply with tax regulations
Accounting services also include the preparation of financial statements, such as income statements, balance sheets, and cash flow statements. These statements provide a snapshot of a company's financial position, performance, and cash flows. They are crucial for decision-making, assessing profitability, and attracting investors or lenders.
Accounting services often involve tax compliance and planning. This includes calculating and filing tax returns accurately and on time, ensuring compliance with tax laws and regulations, and maximizing tax deductions and credits to minimize tax liabilities. Accountants also provide tax planning advice to help individuals and businesses optimize their tax positions.
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