Most people in business don’t want to be bogged-down by debits and credits, and to spend their spare time dealing with invoices, bank statements, VAT returns and other business forms. By passing-on the “bookkeeping” responsibilities your focus returns to running a successful enterprise.
It is also possible to undertake work activities at client’s premises and this may be of particular relevance if documents are to be kept in-situ or if an in-house computer system is in operation.
Typically you hand-over your relevant documentation (invoices, bank statements etc.) on a regular basis. This can be achieved by direct collection or by mail or by drop-off. If appropriate, this may be done electronically by e-mail.
The business transactions are then recorded for you in order to maintain accurate, up-to-date and balanced accounting records (on computer). Various accounting tasks, depending on what work has been agreed, can then be undertaken with appropriate reporting provided to you.
It is worth noting that ledger records that are updated frequently result in better business control and this leads to improved management and decision-making. The larger the volume of transactions, then the more significant frequent updating becomes.