LIMS Accounting (Your Reliable & Trusted Accounting Officers) Accurate and regular financial information allows you to monitor the success or failure of your business and provides you with information to evaluate the consequences of your financial decisions. Regularly monitoring your business activities will help you operate more efficiently, control your cash flow, and increase your profitability. Useful information about your business depends on complete, accurate, and timely record keeping practices. Accurate bookkeeping is a necessity if you run a business. Many businesses which would otherwise have been successful have been brought down by their failure to maintain proper financial records. Accounting and Bookkeeping provides the basis for all management, business growth and tax planning strategies. It is an essential requirement for monitoring the financial health of any business or entity. Keeping proper accounting records is not just a good business practice but also a legal requirement. Accounting records are also the source for creating both internal and external financial reports and statements which are necessary for planning, management, statutory reporting and finance acquisition purposes. At LIMS Accounting we help our clients to keep these financial books of accounts and also help them to answer easily many questions such as the following: How much is my business worth at any point in time? Am I keeping necessary financial records and documents required by law? Am I keeping with up corporate record compliance? Is my business making profits or losses? How often do I do revenue and expense analysis? How much profit/loss did my business make over specific periods (weekly/monthly, yearly) How much do I owe my vendors/suppliers? How much do customers owes the business? What is the quantities and value of stock/inventory I have in store at any point in time? Which of my product or services is moving faster (sale per each specific product or service) Do I have systems and controls to prevent employees from embezzlement of stock or cash? How is my cash flow situation like? How much did I generate in revenue in total? How much did I earn/generate from each of my various products and services? How much did I spend on the various expense categories? Is my business asset used for the intended purposes? Are there any discrepancies in my Bank transactions? Are my bankers doing the right thing? How often do I reconcile my Bank Statement with my Cash Book? How can I legally reduce my tax? Are there any legal ways to reduce PAYE? Are you paying the correct amount of taxes? Do I accurately process employees payroll (salaries) Are there effective mechanisms in place to spot fraud? Are there any proper documents to support any business transaction? How effective are these documents organized and filled? Is my business properly accounting for Ghana Revenue Authority (GRA) requirements on PAYE, WHT, Social Security Contribution and other legal requirements? Can I secure addition finance from my Bankers? Can I easily generate financial reports for my Bankers, prospective investors, tax agency (GRA) etc. Am I meeting filing deadlines? Am I doing good investment with my excess funds? etc. At LIMS Accounting we have our client‘s needs and confidentiality at heart and thus maintain the highest level of commitment and confidentiality. Call us today let help you manage your business more effectively and to provide you with effective accounting, bookkeeping and internal control systems. Call us on 0244575408 | 0576549786 or e-mail us at limsaccounting@yahoo. We also deal in the distribution, installation, set-ups and training on QuickBooks Pro (one of the widely used and effective business accounting, bookkeeping and management software) that help you manage your business. You can also call to schedule a meeting for further discussion and an introduction to the QuickBooks Pro package (business accounting and management software).
Posted on: Mon, 10 Mar 2014 10:42:22 +0000
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