Bookkeeping & Accountancy

Main Fields of Bookkeeping Covers by CIS Accounting Services:

1. Recording Transactions:
   • Capturing day-to-day financial transactions (sales, purchases, payments, receipts).
2. Accounts Payable:
   • Managing bills and payments owed to vendors and suppliers.
3. Accounts Receivable:
   • Tracking incoming payments from customers and managing invoices.
4. Bank Reconciliation:
   • Ensuring that financial records match bank statements, detecting discrepancies.
5. Payroll Processing:
   • Managing employee salaries, tax withholdings, and other deductions.
6. Expense Tracking:
   • Monitoring business expenses for accurate financial reporting.
7. General Ledger Maintenance:
   • Organizing and categorizing all financial transactions into a ledger.

Main Fields of Accountancy Covers by CIS Accounting Services:

1. Financial Reporting:
   • Preparing financial statements such as income statements, balance sheets, and cash flow statements.
2. Tax Planning & Preparation:
   • Ensuring compliance with tax laws and regulations, and preparing tax returns.
3. Auditing:
   • Internal and external audits to assess the accuracy of financial records and adherence to standards.
4. Management Accounting:
   • Providing data and analysis to assist in decision-making, budgeting, and financial planning.
5. Cost Accounting:
   • Tracking production costs and controlling business expenses.
6. Forensic Accounting:
   • Investigating financial fraud and discrepancies.
7. Budgeting & Forecasting:
   • Creating financial plans for future periods and forecasting future performance based on trends.
8. Financial Analysis:
   • Evaluating financial data to measure performance, profitability, and potential growth.

These fields ensure a business’s financial health is maintained and provide insights that support strategic decisions.