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Book-keeping services provided by Applylegal helps you to have an inhouse team to handle all your business affairs, whether it is an inflow of cash or outflow of cash, receivables or payables.

  •  Weekly Reports (Payables and Receivables and weekly cashflow statements)
  • Monthly Reports (Financial Statement and BRS)

Book-keeping is a Crucial part of any business, as it involves recording of day to day transactions related to cash and kind, and also, it helps the company to have a proper track about all their financial activities. Bookkeeping is important because it allows you to take control of your business’ finances. Bookkeeping paints a clear picture of how you spend money. You can see outstanding invoices owed by you or your customers. You will benefit from paying your bills on time and receiving payment for your products or services on time too. The Person who handles all the activities related to finance for an organization is known as Book-Keeper.

Rationale why BOOK-KEEPING is important for any Business:
1. It helps the organization to review their financial resources and expenses by keeping proper record of day to day financial transactions, which further helps as a skeleton for planning a budget for upcoming year.

2. Since, Book- keeping have all the records of Financial transactions. It helps in filing tax returns also. Bookkeeping is important for filing your personal tax return too. As a business owner, a large part of your income comes from your business. In order to know how much you earned, you have to know what your business earned first.

3. Book-Keeping helps in Analysis, It is a tool used by management to analyze business performance. The product of bookkeeping is financial statements. Financial statements should be regularly generated and used for analysis.

4. With analysis comes better decision making. In order to make the best decisions possible, you need to have access to all available information. Bookkeeping provides this information.

5. Bookkeeping also helps with tracking growth. Over time, you will accumulate months and years of data.  With this data, you can observe trends and gain a greater understanding of your business cycles and compare results across periods.

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