Bookkeeping involves maintaining a record of all the financial transactions happening at a company. This would include receipts from customers, payments to suppliers, salary disbursal to employees, and more. Bookkeeping assumes significance if you deal with international clients and/or suppliers. Owing to differences in forex rates, receiving or making the payment in euros yesterday might not be the same as doing the same today. You still have to pay your employees in the local currency, so it is important that you keep a record of all financial transactions, noting the forex conversion rate at the time of the transaction for all international payments,

Bookkeeping assumes significance if you deal with international clients and/or suppliers. Owing to differences in forex rates, receiving or making the payment in euros yesterday might not be the same as doing the same today. You still have to pay your employees in the local currency, so it is important that you keep a record of all financial transactions, noting the forex conversion rate at the time of the transaction for all international payments,

There are two ways you could do this. You could choose to do this internally, hiring staff for the bookkeeping function; or you could outsource it to someone who is experienced at the art of bookkeeping. One of the advantages of the latter is that you can often get experienced help for a fraction of what it would cost you to hire someone with experience.

Bookkeeping involves maintaining a record of all the financial transactions happening at a company. This would include receipts from customers, payments to suppliers, salary disbursal to employees, and more.

Bookkeeping assumes significance if you deal with international clients and/or suppliers. Owing to differences in forex rates, receiving or making the payment in euros yesterday might not be the same as doing the same today. You still have to pay your employees in the local currency, so it is important that you keep a record of all financial transactions, noting the forex conversion rate at the time of the transaction for all international payments,There are two ways you could do this. You could choose to do this internally, hiring staff for the bookkeeping function; or you could outsource it to someone who is experienced at the art of bookkeeping. One of the advantages of the latter is that you can often get experienced help for a fraction of what it would cost you to hire someone with experience.

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