Accounting and Book-keeping
Accounting is the systematic process of recording, analyzing and interpreting the financial transactions. By law, all businesses are required to submit their accounts to the Income Tax (IT) Department.
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Book Keeping & Accounting Services
- Preparation of financials and MIS with comments or remarks on all major items, exceptions and variances to make it ready for statutory annual audit.
- Preparation of annual financial books as per Indian GAAP accounting standards or as per the client's specifications.
- Preparation and maintenance of day to day bookkeeping and monthly or quarterly management accounts, review of supporting documentations for adhering to company's accounting policies and standards, compliance with local laws and reasonability of expenses.
- Liaising with banks
- Preparation of Bank Reconciliation Statements
FAQs
Although accounting can be done individually, it is highly recommended to avail the assistance of accounting professionals who can maintain the records and help you save a lot of time and effort spent on dealing with everyday bills and transactions There is an advantage in taking the opinion of an expert, such as an agent who can maintain the accounting records as demanded by the income tax, and thus, save you a lot of man-hours and hassles of dealing with daily bills and transactions.
Yes, one can submit computerised accounts, too. Now, it is easier to maintain records and all details of financial transactions on designated software or through computerized records, to eliminate any errors and miscalculations.
By following better accounting you can analyze the intricate financial details, prepare reports to accurately include quarterly and year-end closing documents, monitor and check taxation issues and filings, etc.
