Book keeping

1. Bookkeeping

Bookkeeping is the practice of organizing, classifying and maintaining a business’s financial transactions and records. Bookkeeping includes activities such as documenting every financial transaction (payments and expenses), recording all debits and credits and bank reconciliations. It plays a critical role in the success of a business. It provides financial control, facilitates informed decision making, ensures compliance with legal obligation, aids tax planning and preparation, enables financial analysis and performance evaluation and fosters investor confidence.

Bookkeeping is a basic yet highly important financial service often offered by accounting firms. It involves business valuation and recording all transactions which take place within the business. As there may be several accounts owned by the entity, it is also essential to determine which account each transaction affects. The accountant or bookkeeper valuates these transactions while making records.

Bookkeeping is crucial to every business as none can operate successfully without keeping a record of all its financial transactions.

2. Accounting services

As with bookkeeping, accounting deals with a business valuation, identifying, and recording every financial transaction carried out by the entity. The main difference between the two is that while bookkeeping stops at recording, accounting deals with interpreting these records to form a financial statement for the entity.

These financial statements compiled by the accountant are very important as they tell whether the business is progressing or not and the reason behind it, and this could be used for deciding your next move.

3. Cash Flow and Budget Analysis

Good cash management can improve a entity’s liquidity, reduce costs, and increase profitability. Infinac Services can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. Cash flow can make or break the business’s ability to survive. We can help you analyze your spending and rebalance your budget and/or debts for an optimal cash flow to support your business’s success. This plan would be monitored so that if and when there were any major changes in your business structure, you would be assured of operating at an optimal level. With our help and guidance, you will always be on top of your finances and ready for the future.

4. Strategic Tax Planning

Tax planning and preparation form a winning combination for our successful individual and business clients. Whether you are an individual or a business entity, our experienced staff can develop tax strategies that take advantage of new tax laws and legislation.

5. Special advisory services

Finances are a core aspect of every business, and having your finances handled by a professional can mean the difference between your company’s success or failure. This is where Chief Financial Officers (CFOs) come in. The accounting firm can act as an outsourced CFO, creating important operational and financial policies for the entity. They make financial decisions by evaluating the financial statements of the company. We operate with adherence to proper application of relevant accounting standards as suggested by our professional experts.