Right accounting is the foundation of any successful business. Well planned and executed accounting provides a clear understanding of the actual financial situation of the company, increases its creditworthiness and helps to plan resources better. Thus, accounting is not only important for a company manager for presenting financial statements, but also for understanding and evaluating the company’s operations. When setting up a business, you need to consider either hiring an accountant or outsourcing an accounting service.
The cost of an accounting service depends on the number of entries, the number of accounting documents, the number of services selected and the frequency with which the accounting service is provided.