What's included

• Monthly transaction categorization

  The process of assigning bank transactions to categories. It involves reviewing transaction descriptions, merchants, amounts, and other data points to determine the appropriate category for each transaction.

• Recording transactions in journals

  The process of keeping a record of all your business transactions, tracking them in chronological order, and generally includes the date, the account you're debiting or crediting and a brief description of the transaction that occurred.

• Posting to General ledger

  Entering information in the ledger, in respective accounts from the journal for individual records. The account debited is posted on the debit side and the account credited is posted on the credit side of the same account.

• Preparing financial statements

  Turns detailed bookkeeping records into a clear depiction of financial standing. Adjusting entries are a crucial step for accurate financial reporting and ensure revenues and expenses are allocated to the correct accounting period.