Bookkeeping & Accounting
We take responsibility for recording, classifying, and organizing every financial transaction that is made through the course of business operations.
What is the Relationship Between Accounting and Bookkeeping? Bookkeeping comprises the daily transactional processes of your business and this data feeds into your accounting system. Accounting is higher-level work that includes accruals, tax services, and financial statements. Bookkeepers are often supervised by accountants or controllers to ensure accurate data, preventing costly errors.
We keep track of every financial transaction made by a business from the opening to the closing of the firm. Depending on the type of accounting system used by the business, each financial transaction is recorded based on supporting documentation. That documentation may be a receipt, an invoice, a purchase order, or some similar type of financial record showing that the transaction took place.
- Recording financial transactions.
- Posting debits and credits.
- Producing invoices.
- Maintaining and balancing current accounts, historical accounts, and general ledgers.
- Completing payroll.
We organize the data your business needs to make better decisions. Not only does it cover this, but accounting also reviews financial reporting and performance, then reports back to the relevant people with this information. Business owners, shareholders, investors, and many others depend on these financial reports for updates on their performance and overall success.
HMT CPA accounting is mainly made up of:
- Recording expenses.
- Preparing company-wide financial statements.
- Analyzing the costs of operations.
- Completing income tax returns.
- Helping the business owner in understanding the impact of financial decisions.