Book Keeping

Every business, no matter how large or small, is required by law to ‘keep books’. This involves the recording of the financial transactions of a business, whether manually into ledgers or by entering everything onto a computer.

This will allow a user to understand how a business operates financially using accurate data that enables the business to know exactly how well it is performing.

The basic system of double entry bookkeeping was invented more than five hundred year ago and is still used today throughout the world.

Modern technology has made the bookkeeping process easier to maintain by introducing software packages that allows a user to input the financial data once and having the software calculate the double entry. The most common example of this are systems called SAGE or Quickbooks.

Depending on the size of a business and what resources there are available, it may be cheaper, more efficient and time productive to outsource these bookkeeping to a third party thus freeing up the time of the internal staff on more productive and fee generating tasks.

Here at MJF Accountancy we can provide you with the highest level of bookkeeping services for your company at a fraction of the cost of our competitors. By performing the bookkeeping work on your behalf ensures that you are making the most of your financial data when it comes to such tasks as budgeting, forecasting or profitability.

Monthly or quarterly meeting would be necessary for the transfer of data as well as ensuring that you are up to date with the company’s latest financial results.

Clients who wish to keep the bookkeeping tasks internal can benefit form our years of experience when it comes to unusual transactions. Training can also be provided to ensure that you are getting the best out of your bookkeeping system.