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General Account Bookkeeping

We are a leading General Account Bookkeeping outsourcing firm of India. Bookkeeping started as an art but now evolved and transformed into a detailed science of writing for recording of business or financial transaction of value, among individuals or organizations. It is concerned with all the inflows and outflows and its proper precise and unique entry in the book. All transactions like sale, purchase, lease, rent, hire purchase, down payment, loans stocks and inventory are recorded in the accounting book. The person who is responsible for posting entries and maintaining them is called bookkeeper.

Book keeping is of two types:

  • Single entry bookkeeping
  • Double entry bookkeeping

The general account bookkeeping uses Double entry book keeping system so that the account is always balanced as it is meant to be. The practice of debiting an account at the time of receivables on the left side a similar entry of same amount is made on the right side in credit column. This is balanced for accounting equation.

The general account bookkeeping consist of seven main categories:

  • Assets
  • Liabilities
  • Owners’ Equity
  • Revenue
  • Expenses
  • Gain or profit
  • Loss

To run a successful business every entrepreneur must have comprehensive knowledge of its financial position at that particular point of time so that they can take decisions like selling price, material cost, inventory management, and so on, on miscellaneous expenses. Government taxes, levies, marketing expenses, fringe benefits to employees, incentive schemes, risk hedging etc. almost every decision has some or other input from the balance sheet derived from the general accounting.

We have in-depth knowledge, expertise and resources to fulfill the accounting needs and provide you with accurate, convenient, and legally acceptable accounting services.