Mention accounting records or accounting and a lot of business-owners will sigh. But accounting and accounting records is more than just paper bags full of invoices that should have been filed yesterday or endless reports containing incomprehensible figures. They are tools that enable you to steer your company in the right direction.
Accounting records disclose a company’s current financial status. What is the liquidity situation? What is the sum for trade debtors? Which trade creditors have to be paid before the end of the month? How much VAT has to be paid next week? Well-organised and transparent accounting creates stability internally and confidence externally.
What is it we actually do?
Current recording of transactions means that we document all financial events at the company: incoming and outgoing invoices, bank withdrawals, salary payments, etc. Each event is documhers for a month, we produce a balance sheet and income statement report. If you have only recently started up, we will be pleased to help you understand what the figures actually say about your business. An annual report is prepared at the end of each year, in ented by a supporting voucher, e.g. an invoice, receipt or bank statement.
Once we have recorded all the vouchers for a month, we produce a balance sheet and income statement report. If you have only recently started up, we will be pleased to help you understand what the figures actually say about your business. An annual report is prepared at the end of each year, in the form of a set of annual accounts or financial statements.
What is involved?
Submit supporting vouchers
Accounting and budgets
A true and fair view of a company’s finances makes it easier for the management team to determine whether or not it is the right time to make a major investment, re-structure or reduce certain expenses.
It is also easier to draw up a budget and to see what needs to be adjusted in order to achieve the financial objectives you have set yourself.
- There must be two versions of the accounts: a book of prime entry and a nominal ledger. In the book of prime entry the vouchers are sorted by date, while in the nominal ledger they are sorted by account as per the accounting plan.
- As the Swedish Book-Keeping Act (Bokföringslagen) requires accounting procedures to follow certain rules, shareholders and other stakeholders can compare the profitability of your company with other companies. In other words, good accounting procedures enable you to help potential customers choose your company!
- The process is smoother and quicker at our end if the vouchers are sorted by date and are coded. If you would like help with coding, we can determine the best approach to take.