Generally Bookkeeping and Accounting are considered same. The reason being both are related and there is no Universal line of demarcation between them.
But in General, Bookkeeping is the first phase and Accounting starts where Bookkeeping ends. So Bookkeeper records the transactions and Accountant analyzes those recordings.
|Factors||Full Time Bookkeeper||Part Time Bookkeeper||Virtual Bookkeeper|
|Suitability||Suitable for high Data Volume||Suitable for Low data Volume||Suitable for Low data Volume|
|Benefit||Pay only for the Working hours instead of paying for Non- Working hours to full time In-House Bookkeeper||No Training is required and are available round the clock||Saving in Hiring, Training and Operational Cost|
|Bookkeeper Models||Available each time but PAY ONLY for Working Hours||
|KIP Specialty||Provides Best Bookkeepers having extensive Knowledge in India||Provides Best Bookkeepers having extensive Knowledge in India||Provides Best Bookkeepers having extensive Knowledge in India|
|Our Client Feedback||5 stars||5 stars||5 stars|
Click here to see answers of all Questions, which may come to your mind while outsourcing Accounting, Bookkeeping and Tax Preparation services.
Outsourced Bookkeeping Services:
KIP Bookkeeper will manage your supplier accounts and accounts affected through this account. It may be Bank Account, Purchase account, Profit or Loss in the Income statement or Supplier Balance in balance Sheet. Everything will be up to date.
Accounts receivable Management is required to manage the cash flow of Business because all sales can’t be on cash basis and therefore we need to keep track of all the transactions in an effective manner.
General Ledger is the summary record of all transactions occurs in the business and can track any activity through account categories.
Your KIP Bookkeeper will process the Payroll and will keep track of payroll to get the complete recording.
Major payroll workings are to keeping track of:
Reconciliation is necessary activity to ensure that what we are doing is correct and up to date so that correct decisions can be taken on the correct basis. And your business files contain a number of accounts which needs reconciliation.
Major workings in Account reconciliation includes:
Inventory Management can be for manufacturing Business (to calculate cost of product) as well as Non-Manufacturing Business (to take business decisions).
Major workings in Inventory Management include:
Fixed Assets, their capitalization, classification and depreciation is the working that needs knowledge and experience.
You will be provided with an Experienced KIP Bookkeeper, who will take care of GAAP Compliance and keep following Accounting practices.