Bookkeeping and Accounting Services - General Ledger

What is the General Ledger?

Basic ledger in accounting, the core of accounting, basis for bookkeeping and accounting services, in other words the main ledger, it includes all the most significant changes in the business of a company. Quality keeping of the General Ledger enables quality and simple reports, thus facilitating the decision making process. Owing to the optimization of process and conditions under which SVM - united business solutions mostly cooperate with their clients, constant access is enabled for you to the most significant information on your business through balance reports that are the result of professional General Ledger keeping. 

Must every company keep a General Ledger?

Unless your company is registered as an agency that pays the monthly lump sum tax, in accordance with the law on accounting, your are obligated to keep a General Ledger. The General Ledger is a business book that systematically and chronologically records business events. These business events do not only refer to changes in income and costs, but also assets, liabilities and receivables, and capital. All these changes form the financial result at the end of the fiscal period. 

What is the T-Account?

T-Account is a basic business book that chronologically records daily bookkeeping business events. It includes all information on a business event in one place. According to one of the basic principles of accounting, after entry of each business change the account must be in balance (debt must be equal to credit).  

How can our bookkeeping services help you keep the General Ledger?

In several ways:

The first way is the one we usually propose: If SVM - United Business Solutions becomes your bookkeeping agency, you will receive licenses for business management software SVM Syntegra free of charge! From this software you will issue invoices and enter received invoices, and we shall record them. In this manner we are not retyping data, we save our time, and reduce cost to you. So where is the General Ledger log? This is the main advantage of this bookkeeping service: General Ledger is formed automatically upon entry of your business changes. These business changes (received and issued invoices primarily) are classified into special groups, called accounts. This is the core of the General Ledger. It is a sum of accounts that are classified in certain order regulated by the Law on Accounting, called account plan. 

The second way is that we enter your receivables and liabilities, upon your orders. This is a frequent option selected by companies with a relatively small number of changes per month. This complete bookkeeping service may also be subject to negotiations. And finally, the third way, that we use only if necessary, is that you perform receivables and liabilities in a software and we retype them into some of our business management softwares. 

General Ledger - price of the service

The price for the General Ledger keeping service that is provided by our bookkeeping agency depends on several factors. The price depends on whether the company is included in the VAT system or not, as well as the number of receivables and liabilities, number of employees on the payroll, number of cash registers, number of fixed assets. Also, the price may be impacted by the fact the company is involved in foreign trade, number of retail facilities, etc. Naturally, the price of the service depends on whether the potential company is the user of our services from the package of united business solutions, in which case special arrangement is made, depending on services.