• Office #4 Ground Floor Business Center New Civil Line, Faisalabad, Pakistan

Bookkeeping Service

What we do for your Bookkeeping Service ?

Basing upon the need of the client we undertake bookkeeping on various softwares like MYOB, Quickbooks, XERO or even simply on excel.

Quickbooks & XERO file setup:

Accountantsinn takes care to set up QuickBooks/XERO files of client’s businesses and makes them ready for smooth and efficient bookkeeping.
We set up all the card files of employees of your business and make them ready for Payroll processing.
Business entities registered for GST need to submit it based on their business structure and income either on a monthly, quarterly, or annual basis.
Accountantsinn will assist you in preparing your books.

How it works

You need to provide us following information:

  • Bank Statements for all the accounts(GST, Cheque, Saver)
  • Credit card statements(highlight business related expenses)
  • Cash expenses on spread sheet(invoices for cash expense or assets purchased)
  • Payroll weekly sheets with all the details
  • Details of cheque payment( from cheque book)
  • Sales Summary
  • Z reports / Invoice Book / Sales report from point of sale system
  • Details of Asset purchased during the period
  • Details of Bank Loan/Hire Purchase/other loan

Once we receive all the information we need than we:

  • Enter data into Accounting software
  • Reconcile bank accounts
  • Reconcile Accounts receivable and payable
  • Prepare Profit and Loss Statement

A sneak peek in the crucial functionalities of Bookkeeping

  • Bank Reconciliation is done on daily/weekly/fortnightly/monthly/quarterly/annually basis as per client’s requirement.
  • Sales reported in the books as per the client maintained Sales Document (If applicable).
  • Supplier Invoice workings prepared for those invoices received from the client for the quarter and matched with bank if not found reported in books (If applicable).
  • Proportionate gst split taken care as per the client’s instructions.
  • Merchant fees workings prepared for the quarter and reported in books(If applicable).
  • Online sales workings prepared for those sales done through online portals like eatnow,menulog,uber eats and doordash etc. and accordingly commission entered into books (If applicable).
  • Incase where subcontractors are employed ,accordingly as per the ABN lookup GST on Subcontractor is reported during the quarter(if applicable).
  • Fuel tax credit workings are prepared for the quarter (If applicable).
  • If any assets purchased during the quarter ,Purchase invoice workings and supported loan schedule prepared for the respective asset and accordingly reported into books.
  • In case of clients whose services are related to the profession of Doctor ,separately management fees and service fee workings are prepared accordingly the expense is entered into the books.
  • Every quarter Drive off,Cash shortage and Food Wastage expense is reported in the books according to the client document shared.
  • Once the above are accounted in the books by Level 1 Accountant it goes for review by Level 2 Accountant for higher level reporting and errorless output.
  • Turn around time for the reporting of books is 2 to 3 days depending upon the complexity of the work.

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