The term bookkeeping means different things to different people:

  • Some people think that bookkeeping is the same as accounting. They assume that keeping a company’s books and preparing its financial statements and tax reports are all part of bookkeeping. Accountants do not share their view.
  • Others see bookkeeping as limited to recording transactions in journals or daybooks and then posting the amounts into accounts in ledgers. After the amounts are posted, the bookkeeping has ended and an accountant with a college degree takes over. The accountant will make adjusting entries and then prepare the financial statements and other reports.
  • The past distinctions between bookkeeping and accounting have become blurred with the use of computers and accounting software. For example, a person with little bookkeeping training can use the accounting software to record vendor invoices, prepare sales invoices, etc. and the software will update the accounts in the general ledger automatically. Once the format of the financial statements has been established, the software will be able to generate the financial statements with the click of a button.
  • At mid-size and larger corporations the term bookkeeping might be absent. Often corporations have accounting departments staffed with accounting clerks who process accounts payable, accounts receivable, payroll, etc. The accounting clerks will be supervised by one or more accountants.

Testimonials

Total Accounting have taken a great weight off my shoulders by sorting out the mess due to non-submission of tax returns for a number of years . They even managed to get large rebate in the process and since then ensure my liability is kept to an absolute minimum. Very informal and pleasant as well as efficient and professional

Tony Green - | Cramlington

I was very happy with the fast and efficient response and service that I received from this company.
I was appointed an executor to a very complicated last will and testament, I also found that I needed professional advice quickly to sort out a big financial dispute between two other estates that had bequeathed money to charities and also to the deceased estate that I was appointed to look after. 
The main problem was that the amounts of money had been bequeathed using different methods to calculate percentages to third parties. 
I felt very lost. 
With this companies help I also found out that financial irregularities had occurred, I could not have work this out by myself.
Fortunately I got the financial help and advice I needed alongside easy to understand answers to my questions from this company, 
With their help I now have managed to sorted out the all the complicated problems of money transferring between different people in a series of wills accurately.
I can recommend them, and I would happily go back to them if I were needing any financial accounting in the future.

Robert E Etherington - | Sunderland

Total accounting are given all our invoices and receipts, and they do everything. This saves all the work we used to do ourselves. Not only that, but they also look after our wages as well as providing assistance and advice throughout the year, all included in the charge. By following their suggestions, we have also made savings in our tax liability. As a small business their expertise and support is really appreciated.

Ian Clarke - Ian Clarke Gardening Services | Newcastle upon Tyne

Total Accounting have dealt with my accountancy and tax affairs since starting as a self-employed counsellor about 5 years ago.

 Advice and service received has been fantastic’ and yet the fees are very reasonable.

 Highly recommended.

Maggie Hallam - | Washington

Request A Callback