Rs. 9,999.00

Accounting and Bookkeeping Services

Accounting and Bookkeeping Services

Regular tracking of business transactions is very necessary. From an income of one rupee to an expense of thousand rupees, recording ensures transparent business operations by tallied account.
Company Details
Act No specified Act
Registration Requirement No
Number of members Only 1
Separate Legal Entity No
Liability Protection Unlimited
Statutory Audit Not mandatory
Ownership Transferability No
Uninterrupted Existence No
Foreign Participation Not Allowed
Tax Rates Low
Statutory Compliances Less

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Tags: accounting, and, bookkeeping, services

What is Accounting and Bookkeeping?

What is Accounting?

Accounting is the systematic process of recording, analyzing, and interpreting the financial transactions. It is the responsibility of every business – whether large or small to furnish their accounting records to the Income Tax Department. Generally, startups neglect these issues and, after a few years, they are forced to deal with them, plus interest. It's always a good idea to keep track of your finances and provide information to government organizations to avoid difficulties like raids and fines. Companies are required to update the annual returns regularly.

What is Book-Keeping?

Bookkeeping is the process of recording your company’s financial transactions into organized accounts on a daily basis. For a number of reasons, bookkeeping is an important aspect of your accounting process. Companies can track all information on their books and make key operating, investment, and financing choices with proper bookkeeping.

Individuals who manage a company's financial data are known as bookkeepers. Companies would not be aware of their current financial situation or internal operations without bookkeepers.

Benefits of Accounting and Bookkeeping

Budgeting

It assists organizations in efficiently controlling the company's income and expenditure while monitoring managerial policies and goals.

Mandatory by law

In India, the Registrar of Companies requires a strict record of income tax payments at the end of the year, failing which companies may face additional taxes or fines.

Evaluating the Business's Performance

To ensure a smooth and transparent business, every individual, firm or a corporation is required to know about the income and expenditure incurred or generated. This helps them to plan and strategize their financial resources and exploit them accordingly.

Timely access to operational information

Up to date records provide access to operational information to the management. Although business owner(s) or managers are not directly associated with all transactions, accounting and bookkeeping help them to keep an eye on all the transactions from time to time.

Regular reconciliation rationalize decisions

Accounting comes with the reconciliation of data periodically. Monthly or quarterly reconciliation helps management to analyze the beneficial or detrimental aspects of the business. Hence, futuristic decisions can be rationalized with the analysis of loss and profit.

Attract investors with accurate financials

Investing in any business would be followed only after complete analysis of business and its financial condition. While approaching investors, you need to make sure that your books of accounts are up-to-date and accurate. Inconsistency may refrain investors to jump into the business.

Ready to furnish data for timely compliance

Accounting makes it easy to extract data and submit it on time for regular return filing, compliance or scrutiny for the businesses.

Documents required for Accounting and Bookkeeping Services

Incorporation Document

PAN Card, Certificate of Incorporation and MoA – AoA of Private Company

PAN Card

Financial Statements must be audited by independent auditor

Bank Statement

Bank Statement of current account in name of business

Bank Statement of Partners

Bank statement of saving account of partners is also required

Registration Certificates

Certificate of Government registration, such as GST

Invoices and Bills

Sales invoices and expense bills for concerned accounting period

Details of Assets

Invoices of sale or purchase of assets or pending loans

Preliminary expense

Expenses made for company or LLP registration by promoters

Details of Cash transactions

All the transactions incurred in cash needs to be booked

Services Covered

Recording of year round entries (500 - 1000 transactions for one year) for the completed financial year

Preparation of Ledger Accounts-Cash, Sales, Purchases, Expenses

Preparation of Receipts and Expenses Statement/Profit and Loss Account

Stock Summary as on date

Statement of balance of Account Receivables and Payables as on date

Bank Reconciliation Statement as on date

Preparation of Balance Sheet

Who Should Buy

Goods Traders

Professionals & Consultants

Share Market Traders

Individual Freelancers

Manufacturers

Every Private Limited Company

Every Partnership Firm or LLP

Manage books in 3 Easy Steps

1. Follow Quick Process

  • Pick the best suitable Package for accounting and bookkeeping
  • Spare less than 10 minutes to fill our online Questionnaire
  • Upload required Documents
  • Make quick payment through our secured gateways

2. Experts at TaxClue are here to help

  • Assigning a dedicated Relationship Manager
  • Provide the details of the Business and transactions
  • Entries in the Books of Accounts
  • Maintaining the book of accounts on a daily basis
  • Deliver up to date data

3. Get access to updated Accounts!

  • Get access to updated Accounts as per your requirement
  • For us, data secrecy is a priority

Why TaxClue?

Basic Financial Consultation

Bookkeeping

Whether small business accounting be done in-house?

Accurate Annual Financial Statements

Assistance in Invoices

Basic Taxation Advisory

Cloud-Based Accounting Software License

Accounts reconciliation

Payroll & Monthly analysis

Explore Accounting and Bookkeeping Services