Contact Us

Whatsapp

This will basically involve the following:

1.Management of Accounts on day-to-day basis

We keep track of all the transactions undertaken in an entity every single day. Specifically, the sale and purchases are given a keener tracking.

A suitable software is installed so as to have a professional outlook of everything at the instance of a transaction entry. This saves the inefficiency caused by manual systems that waste data access and data entry time.

This will assist in tracking the cash flow element which is vital in the day-to-day meeting of the financial needs of an entity.

2. Maintaining of Up-to-Date and Accurate Records

This assists in ensuring that inconsistencies between the accounts of an entity and books of original account are flagged on time before it’s too late and problem re resolved on time.

3. Keeping Businesses in Line with the Law

The penalties that can be placed on an entity by the Kenya Revenue Authority may signal its end. A dreaded letter over undeclared revenue, unfiled taxes or unremitted taxes can be very detrimental.

With our book keeping services, we ensure that your entity stays aligned with the relevant laws.

At Poboli, we seek to help and not cause more significant problems. 

4. Keep an Entity Always Prepared for Tax Purposes

With our book keeping services, we ensure that you are able to meet the strict tax deadlines.

For most entrepreneurs, doing the books is never a priority, thus, deadlines can slip under the radar. To ensure that you are in good books with the tax man and deadlines do not slip of your watch, book keeping services will come in handy as your records will always be accurate and thus be always prepared for tax or impromptu visits from the tax authorities.

5.Foreign Currency Transactions Management

Under this, book keeping services help to maintain accurate accounts of currency and making use of currency rates.

It is made easier with bookkeeping applications which are compatible digitally that help in analyzing exchange rates with the minimal wastage of time. 

6. Handling of Accounts Payable

Under normal circumstances, it is the book keepers who prepare payment documents. Our bookkeeping services will assist in ensuring that you will not over pay supplier invoices, petty cash, and expenses to the detriment of the business.

7. Sending Out Invoices and Managing Accounts Receivable

Another important responsibility for book keeping is to prepare invoices and send them out so as to ensure that a business receives payment for its goods and services on time.

The management of the accounts receivable ledger and chasing up late payments so that records are accurate is another key feature under book-keeping which will help in improving the cash flow of the entity. 

8. Preparation of Financial Statements

The accurate preparation of significant financial statements mainly income statement, financial statement and cash flow will solely fall into book keeping services.

The above financial statements are vital in showing the ultimate profitability of an entity after, before and offsetting the operating expenses.

Further, the balance sheet shows the state of assets and liabilities and the cash flow statements helps to show the cash flowing in and out of the business. Thus, this is a very important book keeping service. 

9. Keep a Keen Eye on Cash Flow

It is essential that a business does not run out of money to meet the day-to-day financial requirements.

The book keeper does this by keeping keen eye on the closing balances of revenues and expenses. Further, advice can also be given on the best way to ensure a health cash flow is maintained going forward. 

10. Process Payroll and Related Services

Under this category, the book keeping services vary as they can serve to meet the needs of payroll and other HR functions for SMEs.This could cover the processing of pay slips and tax payment on behalf of employees. 

11. Proper Management of Bank Feeds

By definition, a bank feed is a digital link between your bank account and accounting software, automatically importing bank transactions into your accounting software on a daily basis.

Fundamentally, book keeping services helps to manage transactions that are brought in through a software like an application. The bank feed, on the other hand, will help in linking the accounting software with your business bank account and this will help the owner of a business in seeing transactions in real-time.

12. Perform Inventory Valuation/Stock take

For SMEs, book keeping services will help in the production of correct stock/inventory reports by counting items monthly, quarterly or yearly.

After that, they give the owners of the business reports so that they can be expeditiously addressed.

Normally, this happens at the end of the financial year of an entity with the final figures posted in the income statements.

13. Preparing the Financial Books for an Accountant

The book keeping services will ensure that accounts are valid and up-to-date when required by the accountant.

This makes the work easier for the accountant as they use the books prepared to make sound recommendations concerning an entity and file any tax returns.