accounting solutions for a small business n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Accounting Solutions for a Small Business PowerPoint Presentation
Download Presentation
Accounting Solutions for a Small Business

Loading in 2 Seconds...

play fullscreen
1 / 2

Accounting Solutions for a Small Business - PowerPoint PPT Presentation


  • 2 Views
  • Uploaded on

Every business makes multiple transactions every day and it’s virtually impossible for one to remember every detail of these financial transactions and yet they all affect the business in one way or another. Accounting provides a sole proprietor with all the information and monitors every step along which enables one to run a successful and make it grow.\n

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Accounting Solutions for a Small Business' - applebymail7


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
accounting solutions for a small business

Accounting solutions for a small business.

The primary purpose of maintaining a book of accounts is to enable a person who is concerned

about knowing the financial position of business when it is needed. Every business makes

multiple business transactions every day and it's virtually impossible for one to remember every

detail of these financial transactions and yet they all affect the business in one way or another.

Accounting provides a sole proprietor with all the information and monitors every step along

which enables one to run a successful business and make it grow. Below are the services

provided by an accountant or solutions for accounting in Bridgnorth:

1. Financial position

Accounting solutions cannock helps to keep the businessman informed about the financial

position of the business as at that time. He can know every financial aspect of the business by

simply going through the accounting records. An accountant records every transaction in the

book of accounts such as the cash book, receipts and ledgers in complete and systematic records.

2. Ascertainment of profit or loss

Certified accountants offer solutions for accounting in Bridgnorth which assist a sole proprietor

to know if he/she has made a profit or loss within a certain period. For a person who solely

depends on his business for daily bread, it's important to know the amount of profit the business

has made within a specific time so that the drawings of that month that are required for personal

use does not exceed the profit. Profit is the main objective of every business and it's very

imperative that they are informed about the amount of profits received so that they know the

actions which needs to be done to attain their goals.

3. Loans for the business

Sometimes a business might need to expand or grow and this can be done by asking for financial

assistance from banks, SACCOs and other institutions. For the loan to be approved by a financier,

they will certainly ask for profitability and the worth of the business to get a clear picture.

Accounting provides clear information about the financial position and the general worth of a

business by producing evidence regarding accounting statements. Similarly, if the owner of the

business decides to sell the business or get into a partnership, the only thing that will help in

determining the value of the business is the accounting records.

4. Control

By making a recording of the movement of assets in the business and every other business

transaction, it gives a businessman effective control over the business as he can monitor every

activity. Without the presence of financial records, it would be extremely difficult for the

businessman to notice theft or misappropriation of funds.

5. Tax purposes

accounts are necessary for taxation

Accounts are necessary for taxation. In the absence of proper accounting records, it would be

difficult to prove to the authorities the correct income of the business on which the business is

levied. Similarly, other taxes like sale tax and excise duty are collected by a business turnover.

It's important to ask for your accountant advice before you take any action so that they can be

able to guide you in making choices that will enable you to attain your goals.

Source : Click here.