Accounting essence
Ensuring growth and transparency in every transaction
Accounting is the process of recording, classifying, and summarizing financial transactions to maintain accurate financial records.
Different methods
Understanding varied accounting approaches
Financial Accounting
Financial accounting focuses on recording and summarizing transactions to provide a snapshot of a company’s financial position. This method is governed by standard accounting principles.
It helps businesses prepare key financial statements, such as the income statement, and balance sheet. These statements provide stakeholders with a clear view of the company’s financial health.
Managerial Accounting
Managerial accounting is more internally focused, providing detailed financial information to help managers make informed decisions. It includes data on costs, budgets, and performance measures.
Unlike financial accounting, managerial accounting is not regulated by external standards. This flexibility allows businesses to tailor reports to their specific needs and enhance strategic planning.
Tax Accounting
Tax accounting focuses on ensuring that a business complies with all tax laws and regulations. It involves keeping track of income, deductions, and credits to calculate accurate tax liabilities.
This helps businesses minimize their tax burden by ensuring they take advantage of available deductions. This type of accounting also helps businesses stay on top of filing deadlines and avoid penalties.
The core reports
Track business growth, spending patterns, and liquidity
Reveals how operational, investing, and financing activities affect your company’s cash reserves.
Summarizes revenues, expenses, as well as profits over a particular accounting period.
Provides a detailed breakdown of income versus expenses to show net earnings or losses.
From start to end
A structured financial path to ensure clarity
Journal Entry Recording
Business transactions are systematically recorded in the journal with dates, descriptions, amounts, and reference details included.
Posting to Ledger
Transactions are transferred from the journal to individual accounts, creating a categorized financial snapshot for each activity.
Adjusting Entry Updates
Before reports are finalized, adjustments are made to account for deferrals, accruals, and non-cash items accurately.
Financial Statement Creation
The final step compiles balance sheets, income statements, and cash flows to evaluate business performance and compliance.
Payroll essentials
Payments are timely and transparent
Timely salary disbursement system
Our system ensures employees receive their salaries punctually, with complete visibility into each transaction.
Accurate tax and deductions
All statutory deductions are calculated correctly, ensuring compliance and preventing any financial discrepancies.
Employee benefits made clear
Every benefit, from allowances to bonuses, is clearly recorded and communicated to each employee.
We are a forward-thinking payment gateway, dedicated to simplifying transactions.
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