Banking reconciliation to match both cash and bank payments for accurate accountancy, Report and Trail Balance preparation for VAT and year-end accounts so customers con full control of their expenses and incomes before they go to their accountants, Preparing Interim and Management Accounts so that customers. con andlyse their profitability povroll reports. inancial statements indudine balance sheet and proft & loss accoonts, management accounts projected profit & loss accounts, balance sheet for Companies House
Firms in the Bookkeeping industry record commercial transactions on the behalf of companies and other organisations. Small and medium-size firms are vital markets for the industry, accounting for over 50% of revenue. Over the five years through 2019-20, declining business confidence and falling profitability across UK businesses have had an adverse effect on the industry. Demand for industry services has fallen, as the client base for industry operators has contracted, with many businesses increasingly seeking to conduct bookkeeping activities in-house. Industry revenue is expected to fall at a compound annual rate of 1.9% over the five years through 2019-20, to reach £2.6 billion.
The industry is expected to grow over the next five years, as the number of businesses
operating in the United Kingdom is forecast to continue to rise, expanding the industry’s
client base. The adoption of IT and telecommunications technology is also expected to
increase, providing an opportunity for firms offering online and cloud-based services. Mr. Mehmet Ozadam plans to use cloud-based software as bookkeeping software.