What we do
For a concise understanding of all the things we do, we have segmented our accounting tasks into time-based categories
Daily Accounting Tasks
- Cash Report
We prepare reports of the cash balance for you to know your cash position, to manage the active cash, and to gauge weekly cash commitments.
- AR / AP
To avoid pecuniary distress, at the end of each day we tally-up the monetary articles that ought to be coming in or going out.
- Bank Reconciliations
We do the reckon bank and business accounts every day to avoid glaring discrepancies at the end of the month.
- Record Transactions
The transactions that are recorded are:
- – Customers’ billing
- – Cash received from customers
- – Money paid to vendors
- – Bank reconciliations
- Document & File receipts
We keep organised copies of invoices and other scanned receipts, which can be referred to at any later point in time.
Weekly Accounting Tasks
Our hebdomadal deliveries include:
- AR Reports
- AP Reports
These weeklies are an analysis of the week’s monetary inputs and outputs. The AR/AP data of each day is coalesced to help inform the accounting extrapolation of the following week.
Fortnightly Accounting Tasks
- Processing of Payroll
Given the bi-weekly compensation tradition of salaries, we process the payrolls once every two weeks.
Monthly Accounting Tasks
- Complete Bank Reconciliation
We tally the final accounts to align the bank accounts with the business ones.
- Review of Aged Receivables & Payables
We call out the delayed prerogatives and follow up with the overdues.
- Review of Inventory
We take stock of the inventories to ascertain excesses or shortages, and employ a more sagacious listing in the forthcoming months
- Review of Actuals Vs. Budget
As an extension of the inventory review, we compare the budgets anticipated versus the actual expenditure to gauge how much the business has drifted or stayed the course initially scheduled.
- Preparation of Financial Statements
We corroborate all accounting data to present a structured financial statement on the monthly position of the business.
Quarterly Accounting Tasks
- Sales Tax
We calculate the sales tax collected and to be owed to the government.
- Income Tax
We compute the tax levied on the income of your business and make adjustments to accommodate the same.
Annual Accounting Tasks
- Year-end Financial Statements
We record the financial activities and position of the company in a final report consolidated from the monthlies and tallied on the whole.
- Tax Filings
At the end of the year we file your tax liabilities and appropriately remit payments or request refunds.
Based on the past year, we appraise your finances and prepare pragmatic budgets for the coming year.
- W-2 & 1099
Depending on whether you hire employees or engage contractors, we prepare the tax to be deducted at the source, i.e. their salaries or remunerations, which in turn you pay to the government.