Roger Hatherall & Company provide accountancy, financial and bookkeeping services to clients from Wells, Bath and the surrounding areas. It is important to keep all of your records and documents ordered, up to date and easily accessible, to allow your business to operate smoothly. Our bookkeeping services involve storing and arranging all of your financial documents that detail your incomings and outgoings. If you ever need to retrieve a receipt of a specific financial transaction, we can easily pull it from our records.
The main entries in the books are debits (that will increase expenses/assets) and credits (that will increase liabilities and incomes). This should be an ongoing, daily record of all the financial transactions of your business, whether it is a sale or purchase. We use quality-controlled systems to ensure that all the records are accurate. Bookkeeping also keeps a financial record of any loan payments, supplier expenses, invoices and asset depreciation, in order to draw conclusions from the data and create budgets and cashflow forecasts.
Bookkeeping is the practice involved with recording all the financial activities of the business or individual, whereas accounting as a whole is the overall management of all the finances of the business.