Styles & Associates provide outsourced, professional bookkeeping services to businesses, large and small, sole traders and the self employed in Alton, Hampshire and the surrounding area.
What is bookkeeping
Bookkeeping is the process of the day to day recording of all transactions, debits and credits for a business. At Styles & Associates we provide comprehensive bookkeeping services and pride ourselves on providing up to date and accurate records.
What is the difference between bookkeeping and accounting?
Accounting is the practice of managing and analysing the finances of a business to assist with planning and forecasting, whilst bookkeeping is the practice of recording financial transactions.
Bookkeeping provides the information for accounts to be prepared and forms an up-to-date record of the current income and outgoings of a business. Transactions are recorded daily into the ‘books’ – this is usually an online accountancy software.
At Styles & Associates our clients record payments and outgoings using a variety of online accounting software solutions which we then are able to access and manage on their behalf including: Xero, QuickBooks, Sage 50 and Receipt Bank.
The information provided by the bookkeeper needs to be accurate and up to date in order for an accountant to prepare financial records. Without bookkeeping records accounts could not be prepared.
A bookkeeper records all transactions related to a business – focussing on the management of the general ledger. The general ledger is used to record expenses and receipts. To maintain up to date financial records posting on the ledger should be done on a daily basis.
Depending on the businesses we work with, our bookkeeping services can be quite diverse. We offer bespoke packages to suit you. Daily tasks in bookkeeping can include:
Posting expense payments to suppliers
Accounts receivable - creating and sending invoices
Accounts payable – posting payments received against invoices
Recording loan repayments
Monitoring asset depreciation
Bank reconciliation – ensuring bank statements are cross referenced with the general ledger
Generating monthly financial reports
Payroll - Calculating pay and deductions
Double-entry bookkeeping is the worldwide standard for business accounting. Double-entry bookkeeping records a debit and credit for each transaction - the total debits recorded must match the totals credits recorded, so for every debit entry there is an equal and corresponding credit entry. Using this system not only helps to produce accurate reports it reduces the risk of fraudulent financial activity going unnoticed.
Depending on the size of your business, bookkeeping can be a time consuming and often complicated task. At Styles & Associates we are able to offer a complete range of outsourced services from payroll and bookkeeping to preparing your full year end accounts.
Call our team today on: 01420 541 554 to discuss your requirements.
What does bookkeeping entail?
Posting Auditable transactions.
To provide accurate information for accounts preparation all transactions should have an accompanying document describing the transaction. These documents include invoices, receipts and bank payments. Providing these documents ensure that in the event of an audit a complete trail is available to access, making the audit process simple and easy to manage.
The routine day to day tasks involved with bookkeeping can be time consuming – outsourcing can be a cost effective and time effective solution allowing you to concentrate on doing what you do best - running your business.
At Styles & Associates we pride ourselves on the consistency in the delivery and quality of our work. Our team includes AAT Bookkeeping qualified professionals, which ensure they possess the skills and knowledge to manage your books effectively. We provide professional bookkeeping services for businesses throughout Hampshire and Surrey including, Sole traders, SME’s, Partnerships, Limited Companies to large Corporations. Get in touch today on 01420 541 554 to discuss how we can help free up your time to grow your business.
Bookkeeping For Business.
At Styles & Associates we provide bookkeeping services for small businesses to large corporations, sole traders and partnerships.
Areas we cover:
Bookkeeping Services Across The South.
We welcome new enquiries from businesses seeking bookkeeping services from Alton, Hampshire and the surrounding areas.