Accounting & Book Keeping

Services include:
Upto 100 Transactions Per Month, accounts will be maintained in Tally Software.

Timeline:
Monthly Basis

Accounting & Book Keeping :

Accounting is said to be the process of Documenting, Analysing, and Procedural interpretation of Financial Transactions. It is the obligation of all businesses, large and small, to provide the Income Tax Department with their accounting documents. Bookkeeping is the process of documenting the financial affairs of a firm, whereas accounting is the creation of financial accounts which depict the Financial Position of the entity. Apart from necessity, it is preferable to maintain accounts accurately to avoid financial troubles.

In general, startups ignore these concerns until they are obliged to cope with them, plus interest and penalties, after a few years. To avoid problems like raids and penalties, it's always a good idea to maintain track of your funds and disclose information to government authorities. Companies are obligated to update their yearly reports.

It is vital to keep track of company transactions regularly. Accounting and bookkeeping services can help you track every transaction made in the past from learned decisions made in the future.

Accounting experts are required for maintenance of Books Of Accounts by an Business Entity; that is when TAX BARR comes into the picture, especially in the case of accounting for small-scale enterprises, to guarantee that the books are kept under accounting standards.

Benefits of Accounting & Bookkeeping:

Accountancy is as crucial for a small-scale firm as it is for a large one

To calculate the company's profits and expenses

Every individual, organization, or corporation is expected to be aware of the revenue and expenditure incurred or created to guarantee a smooth and transparent operation. This enables them to plan and analyze their financial resources and utilize them effectively.

Access to operational information on time

Management has access to operational information thanks to up-to-date records. Accounting and bookkeeping assist them in keeping track of all transactions regularly.

Regular reconciliation helps to rationalize decisions

Accounting entails the periodic reconciling of data. Monthly or quarterly reconciliation allows management to assess the positive and negative elements of the firm. As a result, the study of loss and profit may be used to justify future actions.

Accurate financials will help you attract investment

Investing in any firm would be done only after a thorough examination of the company's financial situation. When addressing investors, be sure that your books of accounts are up to date and correct.

Prepared to provide data for timely compliance

Accounting makes it simple to gather data and submit it on time for regular return filing, compliance, or company examination.

Budgeting

It helps firms regulate their revenue and expenses while also monitoring managerial policies and goals.

Evaluating Business Performance

Accounting and Bookkeeping assists in measuring business performance in terms of essential metrics such as net profit, sales growth, etc.

Managing Cash Flow

Keeping a record of the money that enters the firm regularly aids in forecasting patterns, paying workers and suppliers, repaying debts, etc.

Financial Information to Investors and Stakeholders

Investors and stakeholders will better know its financial health, including solvency, creditworthiness, liquidity, stock and bond issuers.

Mandatory by law

The Registrar of Companies in India demands a rigorous record of income tax payments at the end of the year. It is vital to keep track of company transactions regularly.

Recordkeeping provides transparent corporate operations through tallied accounts, from a one-rupee revenue to a thousand-rupee spend.

Documents required:

Accounting & Book Keeping