In a company when the owner want to run it smoothly then it is necessary that there will be a complete information of everything going on in the company on daily basis and at the end of the month everything should be kept in the record as well so the picture of company’s financial position will be cleared and the owner will know about how they need to go further with the work. They can hire the accountant for their company or they can get with the bookkeeping services in Dubai as there will be professional who will help them in this regard. If you are unaware of the records you need to keep then you have to see it here:

Expense:

It is the most important thing which you have to keep the track about because you need to kwon about the expenses of you company on daily basis and on monthly basis as well. You need to separately mention all the expenses in different heads so you will be clear about which area of the company is going to get more money and which is getting lesser.

Sales and purchase:

You need to keep the track of the sales as you have to see how much items you are manufacturing or producing in a day and in a month because it is necessary to understand about it and also you have to keep the track of the purchases as well. Sometimes you have to go with the credit purchases which mean you need to pay them off at a later date so it is necessary to keep the track of these purchases and the dates of payment so you can pay them without delaying.

Profit and loss:

It is the most important things to keep the record of because you need to be clear about how much profit you have get in a day and in a month but also there is sometimes the loss in some parts of your business area so you have to keep the track of that too and try to analyze why you are getting loss in that area. If you are continuously getting the loss then you have to stop functioning as the company will be unable to bear the expenses or sometimes you have to go for the liquidation of company.