Today, bookkeeping is the record of commercial documents and is part of the phenomenon of accounting in business. Transactions include purchases, receipts and sales by organization. It is the recording day to day basis. It assured the records of person financial bond is correct or not. Henceforth, accuracy is important.
When we come close to tax pay, many time people find struggle for searching tax receipts in the corner. Establishing your tax documents should begin after New year’s eve, so you can handle your documents next year. A simple way of composing tax documents is by adopting tax documents is by less manila casing that would include some following Documents required for Book-Keeping.
- Income- Your tax is dependent on your annual income. Your monthly income is deducted as a tax payment. It is fully dependent on how much income you earn.
- Invoices to clients- It is also known as sales invoices or clients, is a evidence issued by a business to illustrate a transaction and to ask for a payment for a service or bill provided. Invoices are an important part of any business. They assists you to get paid in proper manner, keep record of your accounts, and when right, help build long term ,trusting relationships.
- Bills from suppliers- are the sales invoices and bills expressed and received by the buying customer. A supplier invoice enumerates transaction between buyer and seller.
- Bank deposit slips- is a form supplied by a bank for a depositor to fulfill, arranging for documents in categories the items included in the investment transaction.
- Credit card statements- is a brief of how much used your credit card for billing period….. Credit card statement is full of terms, numbers and percentages that play a performance in the calculation of total credit card balance.
- Cash expense- is the sum of supplicant operating and interest expenses subtract non cash expenses (depreciation, amortization, equity compensation)
- Merchant account bills if you accept credit card from clients- is a monthly statement that credit card companies concern with credit card holders showing their latter transactions, monthly minimal payment expected and other required crucial information. Monthly statements are delivered monthly at the end of every billing period.
These mentioned procedures is mandatory while bookkeeping otherwise your business will strike off your company is substance which removes the existence of the company from the Register of Companies preserved by the Registrar of Companies. It seems to look like shutting down of company and after your company will no longer be survived after being struck off and cannot do any activity after this complaint filed consequently.
