Book Keeping and Accounting Services

Book keeping is the process of recording financial transactions of a business in an accounting system and the creation of reports. Book keeping services are necessary for all businesses to ensure accurate operational / financial information. Such information is required by Management, Regulators, and Investors. Also, it is a legal requirement for any business to maintain an appropriate book of accounts to ensure that all relevant taxes are paid and tax filings are made on time.

However, many small businesses do not have complete accounting departments and require external bookkeeping services. We can provide your business with book keeping / accounting services through a network of Business Experts and Chartered Accountants across India. We have team of experts who can efficiently handle manage keeping of Book of Accounts for our valuable clients.

The service involves preparation and maintenance of books of accounts on suitable periodical interval as per requirements of the client. We maintain the books of accounts online by using software like Tally, Quick-book and other cloud based softwares as per applicable Indian Rules & Regulations. We are also fully equipped to maintain the books of accounts as per specific business requirements of the client. We apply a significant amount of our time to understand the manner and method of business being conducted by the clients and accordingly, on job to job basis we prepare accounting system so that in due course of time the client can focus on its core business/professional activities.

Outsourcing Accounting Function has proved to be a very productive strategy for businesses all around the world as now a days to set up inhouse accounts department is very costly affairs as against the outsourcing is very economical and efficient. In India, with our expert Accounting Outsourcing Solutions, we are serving various national/multinational organizations from USA, UK, Singapore and Taiwan etc. We have an experience in providing Accounting Bookkeeping Services, which is directly evident in the quality we deliver. Our emphasis remains on dedicated services, commitment and accountability, which is the reason why our list of clients has grown up at a faster pace on year to year basis.

Why Are Rules for Accounting and Bookkeeping Important?

Before we dive into the specifics of the new rules for accounting and bookkeeping in 2023, let’s first understand why adherence to these rules is of paramount importance:

Financial Transparency: Rules for accounting and bookkeeping are in place to guarantee that a company’s financial data is clear and easily accessible. This transparency plays a role in building trust among stakeholders such as investors, creditors and regulators as it demonstrates the stability of the business.

Legal Compliance:Failure to comply with rules for accounting and bookkeeping can result in severe legal consequences, including fines and penalties. Staying updated and compliant with these rules is a proactive way to avoid such repercussions.

Informed Decision-Making: Accurate accounting and bookkeeping services provide business owners with the data needed to make informed decisions. Whether it’s determining the profitability of a product line or assessing the need for expansion, sound financial records are essential.

Preventing Fraud: Proper accounting practices help identify discrepancies and anomalies that may indicate fraudulent activities within the organization. By following accounting rules, businesses can mitigate the risk of financial misconduct.

Financial Health Assessment: Maintaining accurate records allows businesses to assess their financial health accurately. This evaluation is instrumental in securing loans, attracting investors, or planning for future growth.

Apparent benefits of outsourced Book Keeping Services

• Economical
• Simultaneous tax compliance
• Periodical availability of various reports for analysis
• Infrastructure cost benefit
• Great Assistance to Statutory Audit
• Authenticated financial reports

Our Services covers all aspects of maintenance of books of accounts including: -

• Recording of all transactions related to expenses, income, assets & liabilities.
• Preparation of general ledger and subsidiary ledgers.
• Assets accounting and maintenance of fixed assets register.
• Accounts receivables and age-wise reporting to management.
• Accounts payables including overdue liabilities.
• Bank reconciliation
• Trial balance
• Income statement (Profit & Loss)
• Balance-sheet
• Cash flow statement
• Preparation of various reports required for compliance under applicable Rules & Regulations such as GST/TDS etc.
• Preparation of Annual Financial statements
• MIS – including Ageing report & summaries