Our Services
We provide a wide range of services that are essential for managing the financial aspects of businesses. We help organizations maintain accurate financial records, comply with tax regulations, make informed decisions, and achieve financial goals. Some of services we offer include:
Accounting and Bookkeeping
We understand the critical role that accurate and efficient financial management plays in the success of any business. That’s why we are proud to offer comprehensive Accounting and Bookkeeping services tailored to meet the unique needs of your company.
Accounting and bookkeeping are two closely related functions that involve the systematic recording, analysis, and reporting of financial transactions within an organization. While they share similarities, they have distinct roles and purposes in managing a company’s financial information.
Bookkeeping:
- Definition: Bookkeeping is the process of recording daily financial transactions in a systematic and organized manner. It involves the creation of financial records such as ledgers, journals, and financial statements.
- Key Activities:
- Recording financial transactions (e.g., sales, purchases, expenses) in chronological order.
- Posting transactions to appropriate accounts.
- Maintaining subsidiary ledgers for specific accounts.
- Reconciling accounts and ensuring accuracy.
- Tools Used: Bookkeepers like us often use accounting software to facilitate the recording and organization of financial data.
Accounting:
- Definition: Accounting is a broader field that encompasses the entire process of identifying, measuring, recording, and communicating financial information. It involves interpreting and analyzing financial data to make informed business decision
- Key Activities:
- We Classify and summarizing financial transactions recorded in the bookkeeping process.
- Preparing financial statements (e.g., income statement, balance sheet, cash flow statement).
- Analyzing financial information to assess the financial health of a business.
- Providing financial insights and recommendations to stakeholders.
Accounting and Bookkeeping Services for Sustainable Business Growth:
All businesses benefit from strong financial management processes and need a set of internal controls to be able to ensure that the results of the processes have integrity. The structure of the finance department is important as it clearly defines who is responsible for each task in a process. Some of the services we offer include:
- Support in finalizing the accounting and financial statements annually.
- An audit of the financial statements for required years.
- Annual financial statements including profit and loss accounts, balance sheets and a cash flow statement.
- Provision of management accounts including trial balances.
- Support in choosing and implementing an accounting and financial management system.
- Design and set up of an appropriate structure for the finance department.
- Recommendations and implementation of appropriate financial management and controls to address business controls, cash flow management, reporting and compliance.
- Business tax health check and recommendation of the best way to handle tax affairs of the company going forward.
- A three-year financial projection model showing expected revenue, costs, profit growth and finding requirements.
- Medium to long term financial management and accounting support.
Nyada and Company goal is to ensure the financial health of each and every one of our clients and we believe that we can provide the services required eliminate risks of inadvertent errors and create a plan that will enable sustainable growth for our clients in the long term.