At LATS, we help businesses maintain clean, accurate, and up-to-date financial records through our comprehensive bookkeeping services. From recording daily transactions to managing payables, receivables, and reconciliations, we ensure your books reflect a true and transparent picture of your business performance.

1. Daily Transaction Recording

Every financial move your business makes—no matter how small—contributes to its overall financial health. Our team accurately records all your daily transactions to keep your books organized and compliant.

Common Types of Daily Transactions

Sales Transactions

• Cash sales
• Credit sales (on account)
• Online or POS sales

Purchase Transactions

• Inventory purchases
• Office supplies
• Equipment or asset purchases

Receipts

• Customer payments (cash, checks, credit cards, bank transfers)
• Loan proceeds
• Investment income

Payments

• Supplier/vendor payments
• Rent and utilities
• Employee salaries and wages
• Loan repayments

Bank Transactions

• Deposits and withdrawals
• Bank charges
• Interest earned

Adjustments

• Depreciation entries (monthly)
• Prepayments and accruals

2. General Ledger Maintenance

The General Ledger (GL) serves as the backbone of your accounting system. It consolidates all financial transactions into categorized accounts such as Cash, Sales, Expenses, and Inventory, helping generate key financial statements like the Income Statement, Balance Sheet, and Cash Flow Statement.

Key Components of a General Ledger

• Transaction date and description
• Journal reference number
• Debits and credits
• Running balance

How We Maintain Your Ledger

• Chart of Accounts Setup – We create and structure your Chart of Accounts (COA) with categories like Assets, Liabilities, Equity, Revenue, and Expenses.
• Regular Posting – We record and categorize all financial entries promptly.
• Error Review – We ensure all balances and journal entries are accurate.
• Reporting – We generate detailed ledger reports for financial clarity and audit preparation.

3. Accounts Payable & Receivable Management

Managing what you owe and what others owe you is critical for maintaining healthy cash flow. We streamline both Accounts Payable (AP) and Accounts Receivable (AR) processes to enhance your financial efficiency.

Accounts Payable (AP) Management

• Recording supplier invoices
• Matching purchase orders, receipts, and invoices (3-way matching)
• Scheduling and processing payments
• Managing due dates and avoiding late fees
• Reconciling vendor statements
• Handling disputes and vendor queries
• Generating AP aging reports

Accounts Receivable (AR) Management

• Creating and sending invoices
• Recording customer payments
• Following up on overdue accounts
• Issuing statements and dunning reminders
• Managing collections and reconciliations
• Generating AR aging reports

Benefits to Your Business

• Better cash flow control
• Fewer missed or delayed payments
• Stronger vendor and client relationships
• Real-time financial visibility

4. Bank & Credit Card Reconciliation

We verify that your financial records match your bank and credit card statements. This ensures all deposits, withdrawals, and payments are correctly recorded—helping identify errors, duplicate charges, or fraudulent activities promptly.

5. Cash Flow Tracking

Cash flow is the lifeline of your business. We monitor and report your inflows and outflows to ensure you maintain enough liquidity to meet your financial obligations while planning for future growth.