Why to Plan Out your Business' Accounting Management with Aditech Accounting Services?

When we write anything regarding our services then, I am sure a simple thing always rings in your mind and that is why to trust us? What is there so special about us that you can completely rely on our services? Isn't it!

Providing the business' accounting details is like revealing the biggest secret of the business. Now this fact we completely understand. Here somewhat we are different from others. We know the importance of your business. To support your business with the best business accounting services, Aditech Accounting Services had been structured.

It does not demand for the whole accounting details of your company but a few specifications. Thereby, it offers the bookkeeping services for managing the business' accounts. Our firm also provides the individual services like filing taxation, account receivable and payables services based on the requirements of the organization.

We respect your thoughts and sentiments towards your business therefore we offer our dedicated professionals to handle your business in your own way. By achieving all these we maintain our exclusiveness and incredibility.

Follow GAAP for managing Financial Transactions!

It is important that people should follow standard principles while doing accounting calculations. The principle should be such that it is followed through out the world. To honor this fact GAAP (Generally Accepted Accounting Principles) has been originated.

GAAP refers to the standard framework of guidelines for mainly financial accounting. It includes all the essential standards, conventions, rules and regulations that the account expert must follow while dealing with financial transactions.

GAAP implies various principles like principle of regularity, principle of consistency, principle of sincerity, principle of performance of methods, principle of non-compensation, principle of prudence, principle of continuity, principle of periodicity, principle of full disclosure.

All these principles are used in determining the various financial accounting procedures and thereby managing the accounting related data.

Why Outsource of Taxation is required in Business?

Taxation is a tedious job. It comprises of crucial calculation along with the management of large stock of data. So the job for managing this tedious job needs the expertise rather than caring with the hands of an amateur one.
Businesses that need to hire a tax accounting firm generally do not have a full time employee on staff that is trained as an accountant and also a tax services specialist. Therefore, rather then a business owner or an under-qualified employee attempting to handle those duties on their own, outsourcing becomes a very functional and easy alternative.

Accuracy is also important. A business' future is in the hands of the tax firm they choose. In future the business should not be disturbed, all depends on the tax expert as these are helpful in determining the profit rate by auditing.

Get Yourself Updated with Aditech's Accounting Blog!

It is not easy for an organization to manage the finance department so very nicely so that all the accounting services could be provided to the employees efficiently, especially when the organization itself is not an accounting firm. Keeping into consideration of this kind of organizations Aditech Accounting Services has been structured.

A firm that provides different services related to accounting services and solves the need of different organization, is the reason Aditech Accounting Services has been built for.

To notify the world with the events, happenings occurring in the firm, and the current scenario of the firm, this firm chose the common interacting medium "blog". The blog is the media through which Aditech Accounting Services maintains its transparency with its fellow clients and solves the queries of the needy people.

Many people might have the question that how Aditech provides accounting services through blogs? But the reality is, the services are demonstrated through the blogs so that persons could get the idea what services are actually provided by the team of Aditech Accounting Services. So, just relax as we are here!

How to Survive in this Current Recession Period?

In the present recession period, while every organization is suffering with the dropping of the economic rate how would you be able to survive? If this is your question then let me give you the best solution.

If your organization has a strong base for controlling over the accounting department then control the expenses for maintaining the annual budget. You will be able to save the capital, which is the scarcest factor in today's date.

If your organization's financial accounting services are not so very strong then also you are not lacking. Do not worry! As companies are there like Aditech Accounting Services which can help you with the management of your business's finance. It can help you to pull up your budget and can show you new pathways.

Maintain the Nominal Ledger for the Accounts

Nominal ledger is another name of general ledger. It is helpful in managing the accounting records using double entry bookkeeping method. It includes the items such as current and fixed assets, liabilities, revenue and expenses and gains and losses.

The nominal ledger is bifurcated into two parts:

• The left hand side denotes the debit transactions.
  
• The right hand side denotes the credit transactions.
  

A general ledger is the collection of group of accounts that contains the value items that are being reflected in the major financial statements. It gets built up by the postings of sales daybook, purchase daybook, cash book and general journals daybook.
It is important to maintain the ledger book as because it helps in balancing the debit and credit balance which gets reflected directly into the annual budget of the company. After the entry procedure then it is totaled and compared with its controlling account to check the accuracy as through that, trial balance is prepared. So, take care of the ledger account as now you know the importance of it.

Why You Need Accounting Consultation?

Keeping in mind that accountancy bounds a sector that should be handled with attention as well as care, so to provide the best accounting services you need to polish yourself with the fine details that are required to provide best services.

If you want to manage your accounts department by your own and do not want to hire any third party for managing your organization's accounts then you can get yourself consulted to achieve the agenda. Now-a-day various consultants are available who share their expertise in exchange of some monetary amount.

These consultants can be available online or they can serve you offline. For getting the service you need to give your office accounts to the consultant and based on that consultation would be provided.

If you want to hire a third party for the management of your organizations accounts then you can get relax as, we ourselves provide accounting services and then you do not have to bother for anything. So, you have easy solution for your every problem, isn’t it!

Why to Outsource Accounts Payable Reconciliation?

Accounts payable is the monetary amount that the customer needs to pay to the supplier after receiving the products or the services. It is the liability agreed between the purchaser and the supplier. The term although might seems very scary but in reality it is not.

Based on our experience in this market we can very well tell you that professionals are available in the market who can manage this service well. So, no need to worry.

Outsourcing accounts payable helps in various way:

• It Help in controlling the overall budget of the organization.
  
• It helps in reducing the hierarchy of the firm
  
• Generating the monthly reports becomes very easy
  
• The complexity of the work reduces.
  
• It ultimately leads to the company's overall growth and development.
  

Thus, accounts payable should be taken care off otherwise it could lead to penalties. But do not worry we gave you the solution to avoid it.

Are you scared of Inventory Management?

Inventory Management System, can be explained in simple terms as stock of goods. When considered the industry, it is known as ASSETS. Inventory management is required in order to control the production of goods, which has been produces but not has been sold yet or distribution of goods has not been done yet. Those goods need to be protected from various conditions for their replenishment.

Inventory management concerns with carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, quality management, replenishment, returns and defective goods and demand forecasting.

In order to increase the profit of the firm these stocked goods are needed to be marketed, a possible solution is performing OFF SEASON SALE. This process helps in depleting the gradual loss of the organization. So, do not get scared of the inventory, just by performing a bit negotiation you can very well manage the inventory.

Are you serious about the taxation?

When you are into an organization or a firm, depending up on your basic salary you need to pay a tax amount. A lot many factors are considered while calculating the tax amount.

Do not Get Pissed Off

Earlier it was a problem to remember each and everything before the tax calculation which was a burden to the firm. To make the work easy now Aditech Accounting Services provides you the tax filing service.
The collection of tax is controlled by the Ministry of Finance and being it a source of income it should be considered with lots of sincerity. So, make your work easy now do not indulge yourself in tedious work and get your job done easily.

Time Tracking Software Enhances Payroll Generation

The most wanted and expected process in a work sector is the generation of payroll. It depends on lot many factors to gain prominence. Most importantly it depends on the "time" which has to be appropriate in order to generate an accurate payroll. It is not reliable now a days, to depend on the manual process of entering the time so the advisable method is to use the time tracking software.
Time tracking software is an electronic process for storing the time related data which an individual can not tamper. It stores different working hours of an employee for the better management. It can be easily used with reference to the payroll system. Thus implement time tracking software now so that you can value your own time.

Balance the Accounting Equation

Does your company possess a balanced financial equation? Are you aware of the properly formulated equation? If you are not clear with these questions then we are here to solve your doubts. When talking about the balanced accounting equation, it should be clear in one statement:
Assets = Liability + Owner's Equity
(Total resources) (Claims on the resources)

Earning of income starts when the business begins. Income is calculated by subtracting revenues – expenses, gains – losses. At the end of the certain period the report looks like:
Assets = Liability + Owner'sEquity

+ Revenues
- Expenses
+ Gains
- Losses
+ Contributions
- Withdrawals
This accounting equation holds for the entire life of the business. When a transaction occurs, the total assets of the business might change but the considering the liability and the owner's equity the equation will always be balanced. The accounting equation acts as the base when the accountant prepares the balance sheet.
If you have any query regarding the respective topic please feel free to enquire. We will be happy to assist you.

Basics of Bookkeeping

Bookkeeping is the process of recording your company's financial transactions and is the first basic step of the accounting process. Bookkeeping handles all your financial data. It can be checks, receipts, purchases etc.

The bookkeepers are mainly responsible to organize your accounts in a proper way. They update your transactions in a way so that your financial accountant can generate the financial statements. Keeping balanced books will ensure that you know where your money is going.

Investors and lenders will want to see accurate and complete financial data before granting you financing. If you are seeking or plan to seek outside capital, your books must be in order.

Two Sides of a single Coin: Accountancy & Bookkeeping

Considering Accountancy and Bookkeeping individually will become a big picture although but to give the difference between the two is not so tough. To know the difference between the two is very important while working with large or small scale organizations. These organizations deal with large amount of data. To organize / manage these data in an efficient manner these two things should be known.

Catch the Difference:

Accountancy -

It keeps track of the data as well as records the day to day transactions. It also takes the information from the bookkeeping process. It then stores these details for future business reference. At any time these details can be retrieved for any financial calculation.

Bookkeeping –

Bookkeeping is concerned with the systems that enable the financial information to be extracted in the transactions that generate revenue and incur expense in the business. It is the most tedious part of finance.

Knowing the difference of these two solves half of the accounting problem. One can assume that in the world of accountancy, bookkeeping is an important part.

Tale Of Accounting Services

After lots of research and documentation, we are conveying you the information related to accounting services. Till this point of time it has become very clear to the people who are related to business world that accountancy is the backbone of an organization.

Earlier, managing accounts used to be a very tedious job, unlike today’s world where everything is managed in an automatic way, in the past era everything used to be done on a manual basis. A transition has been made from the past to the present. Today a lot many services can be obtained in the field of accountancy like accounts payable and receivable, budgeting, ledger posting, bank reconciliation, account set up etc.

While talking about accounts, bookkeeping plays a very big role. It keeps a track of day to day transaction information which later on is required for preparing weekly/monthly/annual report. It also helps in balancing the general ledger. In order to win the global market, one has to be clear with the accounts details.

We will bring many more information as per our progress in this field which could be helpful in assisting you with your business. If you have any queries feel free to contact us.