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Bookkeeping Services

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Bookkeeping

Accurate and timely bookkeeping is crucial for any business. Outsourced bookkeepers handle tasks like accounts payable, accounts receivable, expense reporting, bank reconciliations, and maintaining the general ledger. They ensure transactions are recorded properly and financial records are complete and up-to-date.

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What services does the outsourced bookkeeping department provide?

Recording Financial Transactions: the bookkeeping department records daily financial transactions, including sales, purchases, receipts, and payments, in the organization's accounting system. This involves categorizing transactions and posting them to the appropriate accounts, such as accounts receivable, accounts payable, and general ledger accounts.
Managing Accounts Receivable: the bookkeeping department is responsible for managing the accounts receivable process, including issuing invoices, tracking customer payments, following up on outstanding balances, and reconciling discrepancies.
Managing Accounts Payable: the bookkeeping department handles the accounts payable process, which involves reviewing and processing vendor invoices, ensuring timely payment, and reconciling vendor statements.
Bank Reconciliation: bookkeepers perform bank reconciliations to ensure that the organization's financial records accurately reflect the bank statement. This process includes comparing transactions in the accounting system to bank statements, identifying discrepancies, and investigating any outstanding items.
Financial Reporting: the bookkeeping department prepares and generates various financial reports, such as income statements, balance sheets, cash flow statements, and financial ratios. The financial reports provide management with insights into the financial health of the organization and facilitate decision-making.
Payroll Processing: bookkeepers process payroll, ensuring accurate and timely payment to employees. This process includes calculating salaries, deducting taxes and other withholdings, processing payroll taxes, and issuing pay stubs.
Tax Preparation and Compliance: assist with tax preparation by gathering and organizing financial data required for tax filings. They ensure compliance with tax laws and regulations, including timely submission of tax payments and reporting.
Financial Record Maintenance: bookkeepers maintain financial records and documentation, ensuring they are properly organized and easily accessible for audits, reviews, and other financial analysis purposes. They may also implement record retention policies to comply with legal requirements.
Internal Controls: help establish and maintain internal controls to safeguard the organization's assets, prevent fraud, and ensure accurate financial reporting. This includes implementing segregation of duties, reconciling accounts, and conducting periodic internal audits.
Software and Systems Management: utilize accounting software (such as QuickBooks or Xero) to perform their duties efficiently. They may also assist with the setup, configuration, and maintenance of accounting systems and software.
Collaboration with Other Departments: collaborate with other departments, such as the Finance department, to provide financial information, resolve discrepancies, and support budgeting and financial analysis processes.
Continuous Improvement: bookkeepers stay updated on industry trends, regulations, and advancements in bookkeeping practices. They continuously enhance their skills and knowledge to improve efficiency and accuracy in their work.

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Call today for a FREE Consultation(602) 821-7516email: moc.clltsaeottsew%40ofni

2375 E. Camelback Rd.Suite 600 #153Phoenix, AZ 85016


Resources

ServicesFAQValueOutsourced servicesCustomer Reviews
The WEBS team will lead your business to prosperity.

Hours

Monday-Friday 8:00am-7:00pmSaturday 10:00am-2:00pmSunday Closed

Business and Accounting Services Tailored to Your Needs

West to East Business Solutions, LLC (WEBS)

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Website created by Weblium

Copyright © 2021 All rights reserved

Contact Us

Call today for a FREE Consultation(602) 821-7516email: moc.clltsaeottsew%40ofni

2375 E. Camelback Rd.Suite 600 #153Phoenix, AZ 85016


Resources

ServicesFAQValueOutsourced servicesCustomer Reviews
The WEBS team will lead your business to prosperity.

Hours

Monday-Friday 8:00am-7:00pmSaturday 10:00am-2:00pmSunday Closed

Business and Accounting Services Tailored to Your Needs

West to East Business Solutions, LLC (WEBS)

Illustration

Website created by Weblium

Copyright © 2021 All rights reserved