Recording and Organizing Accounting Transactions Through Approved Accounting Systems, Ensuring Data Accuracy
For small and micro-enterprises, the Bookkeeping Service is often essential, as hiring an in-house accountant at the time of establishment can be a high-cost endeavor, not to mention the company’s need—especially during incorporation and the commencement of activities—to utilize sufficient expertise to ensure comprehensive establishment.
In the Bookkeeping Service, a cloud-based accounting program is provided that enables the client to access it at any moment according to their need and request. The Meras team undertakes the following:
- Selecting the appropriate accounting system for the company’s activity.
- Creating and installing the company’s accounting system, taking into consideration e-invoice specifications.
- Creating a chart of accounts that aligns with the company’s activity.
- Regularly recording accounting transactions by our qualified team, who are knowledgeable in all aspects and accounting standards, through on-site or remote visits to the client.
- To arrive at the trial balance, from which financial statements are prepared.
What Does the Client Benefit from the Service?
- The entity does not need to hire a specialized in-house team, thereby reducing the associated costs.
- The entity receives the service from specialized professionals with extensive expertise, which would be very costly if they were to be hired directly by the entity.
- Preservation of invoices and entity documents through the used cloud-based programs, protecting them from damage and loss, and making work organized and compliant with the Companies Law and Tax System in the Kingdom, as these systems require taxpayers and entrepreneurs to retain accounting records for specified periods.
- It enables the company to prepare financial statements at year-end and have the financial statements reviewed by a licensed accountant with ease and convenience.