Case 2: Bookkeeping Services
Client B is an e-commerce company based in East Riffa, Bahrain selling products and services mainly to foreign countries. Sales transactions and payments from clients are largely automated. These transactions are also automatically captured and readily available online in various reports generated from their sales systems and online vendors.
As a relatively young company, it was focusing on growth and profit while trying to reduce costs. As such, naturally, it has neglected its accounting during its growing years. Its initial plan to have the accounts wrapped up once a year did not materialize as it dragged on in producing the relevant documents for the yearly accounts. Slowly and gradually its accounting backlog accumulated to a few years at which point the management decided that they could no longer delay having their accounts properly managed especially with the impending VAT implementation looming.
Its simple business nature, high level of automation and data rich operating environment naturally led them to explore bookkeeping outsourcing with us. Our bookkeeping services is especially suitable for companies and businesses with simple business nature just like Client B.
After further discussion and in order to minimize operating overheads, Client B decided to arrange for their relevant documents to be passed to us periodically for us to handle their bookkeeping at our office.
Bookkeeping Services Offered:
Client B engaged us to prepare their accounts on monthly basis at our office. Client B pass documents to us periodically, usually twice a month. We assigned a dedicated accounts personnel to handle the bookkeeping of Client B. Our client just needed to liaise with this assigned person-in-charge during the bookkeeping process.
We prepare the accounts using our accounting software. We email the full set accounts to Client B for their review once a month including monthly income statement and balance sheet.
Important Highlights of Our Bookkeeping Services
Client pass all the relevant files and documents to us.
Cloud sharing can also be used to facilitate information sharing conveniently.
We update the accounting transactions using our accounting software at our office. Clients may also choose to engage us to update the accounting transactions remotely into their own accounting software. Alternatively, accounting software that operates on cloud platform such as QuickBooks and Tally can also be used which is easily accessible by us and also our clients.
We use various offline and online communication tools such as Skype and relevant internet applications to improve communication with our clients. Onsite bookkeeping services can also be arranged whenever necessary.