Accountants do tax and compliance work – we all know that. But the best ones do so much more. They’re excellent trouble-shooters and strategic advisors for small to medium businesses. Accountants do more than you think. They can give you strategic advice and come up with clever ways to save money or boost revenue.
Bookkeeping refers mainly to the record-keeping aspects of financial accounting and involves preparing source documents for all transactions, operations, and other events of a business or property owner. Whether you have one property in your portfolio or hundreds, you must keep accurate records of all in-comings and outgoings relating to your portfolio. These records are used to calculate how much tax you owe. ''What if I don't keep my accounts up to date? How will this affect me?''