Accounting is a process of recording, summarizing, analyzing and recording of financial transactions of an enterprise. Accounting is one of the most important functions of any business enterprise.
Many business owners, especially those who manage small business, Neglects to see the importance of Accountants & bookkeepers in their business, they only realize the importance of accountants in the following circumstances.
- Financial Record >Review>Report>Return
- Filling of income tax returns and audited financial statements
- Renewal of business permits and licensees
- GST and other government agencies audit & Govt. notices Resolutions
- Following statutory compliances which is defined by Federal and states
- Helps in evaluating the performance of business
- Helps to manage and monitor cash flows
- Helps to create budget and future projections
- importance of Business Accountants:
- Organizing recording of financial data
- Tax compliances
- Save time focus on Growth of business
- Save money
- Peace of mind