THE BEST ACCOUNTING SYSTEM FOR YOUR BUSINESS IS ONLY A CLICK AWAY
Businesses are required to implement an accounting system that will allow them to keep track of their income, expenses and payroll. The majority of accounting software available today is generally automated and cloud-based.
Accounting systems can be either Cash or Accrual based. Business with an aggregate turnover of less than $2 million can select to use the Cash basis accounting system that records only cash money that comes in and out of the business.
Accrual Accounting system is much more complicated and as it records all the financial transactions of the business irrespective of whether they are paid or not and therefore provides management with more meaningful financial statements to assess the performance of the business.
At Forensic Accounting Group we offer clients remote online bookkeeping services, which means significantly reduced bookkeeping fees and 24/7 access to accurate financial data to support making important decisions.