Recording financial transactions: Accurately recording all financial transactions within the company. This includes sales, purchases, receipts, and payments. These transactions are entered into the appropriate accounting system on a regular basis, which may be monthly, quarterly, or annually, depending on the company's needs and accounting practices.

Accounts payable: Manage and track the invoices received from vendors. Ensure that payments are made in a timely manner, following the agreed-upon payment terms. Maintain accurate records of outstanding liabilities, including the amounts owed to each vendor and their respective due dates. This helps to manage cash flow and maintain good relationships with suppliers.

Accounts receivable: Monitor and track customer invoices. Send reminders for payment to customers who have outstanding balances. When payments are received record them and update the accounts receivable records accordingly. This process helps in maintaining accurate and up-to-date records of the company's receivables.

Bank reconciliations: Compare and reconcile the company's bank statements with its financial records. This process ensures that all transactions recorded in the accounting system match the transactions reflected in the bank statements. Any discrepancies or errors are identified and investigated. By performing bank reconciliations regularly, we ensure accurate financial reporting and helps to prevent fraud or errors.

Accounting and Bookkeeping

Expense categorization: Categorize and allocate expenses to the appropriate accounts in the accounting system. This involves analyzing each expense and determining the relevant account to which it should be assigned. Proper expense categorization allows for accurate tracking and analysis of business expenses, which helps in budgeting, cost control, and financial decision-making.

Financial reporting: Generate financial reports, such as income statements, balance sheets, and cash flow statements. These reports provide business owners with a clear overview of their financial position and performance. We ensure that the financial reports are accurate, timely, and in compliance with accounting standards and regulations. These reports are essential for monitoring the company's financial health and making informed business decisions.

Data organization and documentation: Maintain organized and up-to-date financial records. This includes keeping track of receipts, invoices, and other supporting documentation related to financial transactions. Organized data allows for easy reference, retrieval, and analysis. It also facilitates the auditing process by providing supporting evidence for the recorded transactions.

General ledger maintenance: Updating and maintaining the general ledger, which is a comprehensive record of all financial transactions organized by account. Post the transactions from various journals or subsidiary ledgers to the appropriate accounts in the general ledger. This ensures that all transactions are properly classified and summarized, providing an accurate overview of the company's financial position.