Accounting is an important part of any business. It is important because, from it, a business owner may collect information on how the business is doing. A small business owner is not exempt from keeping the financial records of the company. Bank reconciliation is one of the outsourced accounting services that an accountant can perform in a small business. It is a document that explains the difference between the statement of a cash balance monthly statement and the cash balance of the bank’s society through his books on a given date, usually the end date of the statement.
This is an important activity to check for errors in the display in both banks and business records. Trial balances are also one of the accounting services that the accountant performs. A trial balance is an accounting sheet that is used to check the mathematical accuracy of accounting balances. This report can help a business owner in decision making.
One bookkeeping service bookkeeper must make is the preparation of financial statements. These accounting records are used only for purposes of internal decision making. The business owner can know the financial situation of his/her business and financial performance that may be beneficial to make economic business decisions. These financial reports are also useful for other actors in society as employees, creditors, the government, suppliers, and even the general public.