Accounting & Bookkeeping Overview
Accounting and bookkeeping form the backbone of financial management in any business. Proper maintenance of books ensures statutory compliance, accurate tax reporting, and reliable decision-making.
- Recording day-to-day transactions
- Maintaining ledgers and trial balance
- Preparation of financial statements
- Compliance with Income Tax & GST laws
- Year-end closing & audit preparation
Why Structured Accounting is Critical?
- Prevents tax notices and penalties
- Helps in loan & investor funding
- Improves business decision making
- Maintains regulatory credibility
Bookkeeping Services
- Sales & Purchase Entry Recording
- Expense & Journal Entry Posting
- Bank & Cash Book Maintenance
- Vendor & Debtor Reconciliation
- Inventory Accounting
- Ledger Scrutiny & Error Rectification
Practical Example
If monthly GST turnover is ₹50 lakhs but books reflect ₹47 lakhs, we identify mismatch and reconcile with GSTR-1 & GSTR-3B to avoid notice.
Financial Statement Preparation
- Profit & Loss Statement
- Balance Sheet
- Cash Flow Statement
- Ratio Analysis
- Comparative Financial Reporting
Compliance Standards
- Companies Act, 2013
- Income Tax Act, 1961
- Accounting Standards / IND-AS (if applicable)
MIS & Management Reporting
- Monthly Profitability Report
- Cost Center Reporting
- Cash Flow Forecasting
- Budget vs Actual Analysis
- Break-even Analysis
Well-structured MIS helps promoters make strategic decisions on pricing, cost optimization, and expansion.
Statutory & Compliance Support
- GST Reconciliation & Working
- TDS Reconciliation
- Advance Tax Working
- Audit Support & Documentation
- Coordination with Statutory Auditors
Year-End Closure Services
- Depreciation computation
- Provision entries
- Inventory valuation
- Balance confirmation
- Finalization of books