Accounting and bookkeeping refer to maintaining and recording transactions of buying and selling goods and services in an accounting system commonly including copies of invoices and other documents. Proper records of the financial transactions not only assist the companies to identify the companies’ financial position but also allow them to compare the performance over the year and the results achieved. Quite often, accounting and bookkeeping can be daunting tasks for companies considering the nature of their operations and the availability of resources.
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