Generally in Karachi most of the business comprises of small business owners who aren’t aware of the variety of options available to them when it comes to book-keeping and accounting. Here is a list of bookkeeping options:
1) Do It Yourself!
DIY (Do It Yourself!) is done out of necessity. Although we’re not bookkeepers, we need an approach based on the understanding of basic accounting. Taking the time to do it yourself, will give you a full picture of the financial side of your business and help you better understand what you need to do to grow the business. You’ll need to buy and manage an accounting software (hisaab.pk) and this will allow you to record your transactions easily and will assist you in managing your business efficiently.
2) In-House Bookkeeping
Another common bookkeeping solution is an in-house bookkeeper-trained and managed by the business owner.
Having a bookkeeper means you’re free of having to record and manage daily transactions. However, you’ll need to train and manage a bookkeeper and it can be time-consuming.
3) Cloud-Based Accounting Software
Managing your accounting in the cloud is much different than the “old school” way of keeping books with a pad of paper and a pen, or even spreadsheets on your desktop computer. Hisaab.pk-(Accounting Software in Pakistan) allows you to access your files and documents from anywhere with an internet connection. It’s more versatile and easier to automate than standard DIY bookkeeping.
4) Outsource to a Virtual Team(Freelancers)
Cloud-based accounting has made outsourcing your bookkeeping to a virtual team a feasible option. Accounting teams can monitor and record all of your activity using integrations and by receiving receipts and updates via email.