What is Bookkeeping
Tracking all of the revenue and expenses that flow in and out of your business, ensure the proper coding and categorization of those transactions, and then reconcile all of your accounts. That way your income, expenses, loans, bank accounts, credit cards, and other accounts are accurately represented in your financial reports (i.e. profit and loss, balance sheet etc.)
What is the difference between bookkeeping and accounting?
A bookkeeper is an expert responsible for recording and organising your business financial transactions while an accountant uses the information provided by the bookkeeper to prepare and file statutory returns and give financial and business advice. A bookkeeper can help you carry out some of the functions of an accountant, including preparation of financial statements, provide financial advice, handle tax issues, and more.
What documents do I need to send to you?
Usually, we'll need you to send your sales invoices, receipts, bills, and bank statements. We may require additional documents however, we'll always review your data first and then request all the necessary information from you.
I've not done bookkeeping for a while, can you help me fix my books?
Yes, we'll be happy to sort out your books for you. Please, contact us now, and we'll help you get your accounts up-to-date. However, we may give you a separate quotation as it depends how much backlog there is to deal with.
How long do I need to keep my business account records?
You must keep your business records for 6 years from the end of the last company financial year they relate to, or longer if: they show a transaction that covers more than one of the company's accounting periods. The company has bought something that it expects to last more than 6 years, like equipment or machinery..
What accounting software does JK Bookkeeping Ltd support?
Although we specialise in Xero & QuickBooks, we also support other accounting software like Sage, Wave, FreeAgent, Zoho, QuickFile.