Frequently Asked Questions Your Queries Answered
If you’re new to Books and Balances INC, this bit should help you learn more about
our platform, features, and services.
Bookkeeping is an organized method of keeping a record of financial transactions within a business. It refers to records of purchases, sales, receipts and payments to create a financial overview of the company. Financial reporting, budgeting, tax preparation and informed decision-making is why you need bookkeeping.
Bookkeeping involves the maintenance of ledgers, income statements, balance sheets, cash flow statements, bank reconciliation statements, invoices, and payroll records.
Service tax preparation involves the process of preparing and filing tax returns for individuals or businesses.
You can, but it can be time-consuming and error-prone. Professionals ensure accuracy and compliance, while simple cases may be done independently using software or online platforms.
Payroll solutions simplify payments, ensure accuracy, and aid compliance with tax and labor laws.
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