Daily Accounting
The main objective of book-keeping is to keep a complete and accurate record of all the financial transactions in a systematic orderly, logical manner. This ensures that the financial effects of these transactions are reflected in the books of accounts. Also, the maintenance of books of accounts and financial statements is a legal requirement in many cases. In the case of companies or banks or insurance companies, there are acts that require such firms to keep and maintain financial records. In such a case, book-keeping becomes mandatory. It is necessary to maintain accounting on a regular basis to ensure tax returns are filed appropriately and to assess the financial position of an entity correctly.
Daily accounting is a crucial financial service that involves the systematic recording, tracking, and management of a company's financial transactions on a daily basis. This process ensures that all financial data is up-to-date, accurate, and ready for analysis, compliance, and decision-making.
