Bookkeeping service from ECPA | How to manage company accounts?
Business success is an art with many secrets. One of the most important secrets of the success of businesses is their capability of professional bookkeeping. Holding the businesses and projects' accounts and recording every statement and information will achieve more advantages than you can imagine. With the Bookkeeping service, you will not only be able to monitor your daily expenses and revenues, but you will also be able to analyze and predict the most accurate future results for your company.
The ninth article of the Commercial Law stressed the necessity of all traders to keep commercial books and record their transactions daily, with a minimum of three ledgers: the journal, inventory, correspondence and photo books, and optional ledgers.
However, bookkeeping, especially in large and medium-sized companies, has conditions, the most important of which is not assigning this task to amateurs or newcomers. Experience is a significant factor in determining the benefit you will get from each statement recorded in the ledger.
bookkeeping company accounts is a huge responsibility that must be assumed by those who have the commitment, a good reputation and experience at the same time—all this and more at ECPA, the largest accounting firm in Egypt and the Arab world.
Bookkeeping means the detailed daily recording of the movement of financial transactions. A more straightforward definition is recording all buying and selling transactions and any money traded, whether received or paid.
The company’s internal accountant or an external accounting firm is responsible for the Bookkeeping service.
Bookkeeping is one of the essential elements in accounting; each statement within the documentary cycle is used in issuing financial reports.
Accounts used in the bookkeeping task
The purpose of bookkeeping
- Accounting bookkeeping has many objectives, including:
- Recording all financial transactions related to the project.
- Divide, detail and classify financial transactions.
- Recording credit balances in unique books.
- Through the financial statements, the company’s financial position can be clarified.
- Issuing accurate reports that help management take the best economic decisions.
- Bookkeeping and internal organization in the company’s accounts is the most critical factor in attracting investors and customers.
Therefore, the documentary cycle, which includes all the books, records and documents owned by the company, is the cornerstone on which the accounting system will be built, and the company’s accounts are kept.
bookkeeping by a certified accounting office is one of the most important and correct administrative decisions. In addition to the accuracy of the financial statements, you will find a partner who will help your company follow the steps of success, which we pledge to achieve to our partners in the ECPA Accountability Office.
How to receive company accounts?
bookkeeping accounts differs from one company to another according to several factors, such as:
- The nature of its business.
- Is it a new or old company?
- Does the company have an accountant or not?
- What is the timing of receiving the accounts?
- Are the company relying on an accounting program or books?
Stages of bookkeeping company
Assuming that the company had a previous bookkeeper and an organized accounting system, then the following is done:
- A specific period of training on the company’s tasks and performance.
- It is necessary to know how the previous bookkeeper worked.
- A quick audit is done.
- Receipt of the trial balance from the bookkeeper with his signature and signature of the manager and the date of receipt.
- Reviewing the closing balances of the year, such as the actual inventory count, asset account, and others.
- Receiving previous financial statements and reviewing invoices.
- Review any suspicious balance, significantly if the value of the credit is exaggerated.
- Review any notes from the previous accountant.
How to set up accounts for a new company
Sometimes the client requests to bookkeep of a newly established businesses. Or it may be an old company that did not rely on an accounting system before. In this case, follow these steps:
- Determining the company’s activity and the business sector to which it belongs and reading the Memorandum of Association.
- Carrying out an inventory of all existing assets, including the store.
- Creating the company’s chart of accounts.
- Using an accounting program to help with bookkeeping, preparing records, and extracting financial statements and reports.
- Verifying the correctness of account balances.
- Preparing the trial balance and its adjustments.
- Preparing the statement of financial position for the beginning of the period.
- Bookkeeping for the daily recording of operations.
- Determining the internal audit system.
Suppose the company has not used an accounting system before. In that case, it is considered to prepare a trial balance for the previous period and to make a list of the financial position after obtaining the approval of the company’s managers and their signature on the validity of the trial balance.
We aim to help decision-makers and investors obtain the most accurate financial reports at the appropriate time to make the best management decisions.
The ECPA team combines the most skilled accounting, legal, tax and audit consultants.
In our work, we rely on the latest strategies, methods and technological means that will make the work more accurate, simpler, and in the fastest time under the supervision of the largest accounting office team in Egypt and the Arab world
What do we provide for bookkeeping service?
- Sales invoice management.
- Record all receipts and expenses in the ledger.
- Record all payments and make necessary adjustments.
- Accounting for monthly salaries and incentives.
- Professional inventory management.
- Make a record of fixed asset allocations.
- Dealing with the electronic invoice system and the electronic tax authority.
- Analyze and control costs and manage cash flow carefully.
- Preparing various reports periodically.
What reports do we provide?
- Profit and loss account statements.
- Statement of cash flows and balance sheet.
- General account deposit statements.
- Bank reconciliation reports.
- Reports of the financial analysis of the company’s performance for a quarter, semi-annual or annual period.
- Submitting the Board of Directors reports.
Competitive advantages that ECPA offers you in bookkeeping
- Best quotes for best professional services.
- We use the best digital accounting software.
- Make a chart of accounts compatible with the nature and size of your business.
- Calculating value-added taxes and preparing tax returns.
- We enable you to manage your money and control payments easily.
- Backup copies of your financial information.
- Complete confidentiality and the highest degree of protection and privacy.
- Constant follow-up from our team and customer service throughout the week.
- Prepared reports from the best analysts and financial experts.
Deal directly with ECPA’s accounting and legal experts and get professional recommendations to help you achieve financial security; Our goal has always been the satisfaction and success of our customers.