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Bookkeeping is essential for a small business as well as a large business establishment. However, not many small businesses like hiring full-time employees to manage their bookkeeping tasks. Instead, they prefer hiring firms that specialise in handling accounting for small businesses. Larger business establishments can employ a team of financial accountants too. Despite this, many of them prefer outsourcing their bookkeeping activities. This is because professional bookkeeping services:

– Help in maintaining the reputation and goodwill of your business by clearing bills in a timely manner
– Negotiate with vendors, thereby getting you attractive discounts
– Provide accurate financial statements, thereby saving you a lot of unnecessary hassle and time
– Assist you in computing and meeting your tax liabilities, whilst capitalising on maximising your tax allowances
– Monitor your cash flow, thereby ensuring that you stay above the minimum levels and deposit the excess into the bank
– Monitor your expenses, thereby giving you an idea of the expenses that you could curtail
– Track your profitability and growth and,
– Keep you compliant on all statutory requirements, while ensuring that you remain prepared for any financial audits