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Accouting services

As a businessman you have to take care of lot of other things. One of the most important thing alongwith your business activities is accounting. Accounting is what is going to tell you how your business is doing in terms of profitability, return on your investments, fund requirements so forth & so on. Along with above important information, timely & accurate accounting will help you to run the business swiftly. Here comes the need for you to have a trusted partner having experties in accounting & we are here to help you.

Rapid technology growth along with high speed internet, now its very much possible to do the accouning from any where in India.

What you will get from our accounting services which will help in your business

Updated books of accounts

Updated books of accounts helps one to take fast & correct decisions which saves lot of time.

Sales/service register

Sales/service register will show you at a glance sale/service income for the period. It can be further viewed product/service wise, location wise & much more.

Purchase register

Purchase register helps you identify, major part of cost incurred by business. Whether any bill is left to be booked in system. It also helps one to identify GST input credit available which is setoff against GST payable on sales.

Debtors/Creditors report

These reports are the back bones of business. Debtors report shows you how much you need to recover from customers against sales. How quickly your customers are paying to you. Are there any chances of defaults from your customer. Creditors report tells you funds which you require immediately for smooth running of business. It helps you analyse how many days your vendors are giving you to make payment against supplies.

Expense report

This report helps you check other business expenses required to run it, like admin cost, sales & marketing expenses, freight outward cost etc.

Bank reconciliation

Bank reconcilitiation helps in cheking any unathorised transaction in books of accounts, whether any excess charges are recovered by banks. It helps one to keep track of cheques issued & deposited. It prevents misappropriation of funds. It helps one manage funds more effectively for business.

Data for tax compliance/returns

Timely & accurate book keeping is the key to generate correct data required for all key tax compliances for examples GST returns, TDS returns income tax returns, MSME returns, ROC returns & much more.

Profitability in business:

Profit & loss account is generated by proper accounting of all the expenses incurred for the period & all income generated during that same time, which sums up as profit or loss generated for the business. P&L account gives you an immediate view about any expenses incurred more than estimated, it brings out variances as compared to actuals with previous periods. This will prompt action to be taken to control the same. It also helps one to identify tax liability for that period.

Balance sheet

A balance sheet gives you financial position of business at a point of time like say on 31st Dec. A glance at balance sheet will give you financial capability of business, whether the business is growing, from where cash is generated in business.

Balane sheet along with profit & loss account are the most important documents required for bank loans/funding/investor’s analysis.

Timely & accurate accounting is the backbone of busiess to correctly get all above reports & we can give you a helping hand with trust here.

Consultations

We are happy to give you consultations to understand & interpret your above financials. Cost of the same is already included in package selected by you.

What all you need to submit for accounting

  • Monthly Bank statement
  • Sales invoices
  • Purchase invoices
  • Any cash transactions during the month

Based on above we will finalise your monthly books & submit it to you.

Tax management

Tax returns

There are lot of tax returns which businesses need to file monthly, quarterly & yearly basis.

Income tax return is to be filed for taxes to be paid on income earned during the year by businesses & individuals. It is to be filed on yearly basis.

TDS returns to be filed on quarterly basis for for tax deducted by business.

Various returns to be filed with Registrar of Companies.

In case of foreign investments returns to be filed with Reserve bank of India.

If one checks tax structure in India, it is very difficult to file various returns. If one tries to do it individually without the help of professional, there are chances that some credit is missed, figures added at wrong places, incorrect figures are put etc. As a professional we will make your tax filings hassel free.

GST compliance

What is GST:

GST is goods and service tax which is levied on manufacturers/services providers doing business in India. Manufacturers having turnover of Rs. 40 lakh and service provider having turnover of Rs. 20 lakh are required to register under GST

Advantages of GST registration:

  • Cascading effect of tax – It removes cascading effect of tax and allows seamless credit of input tax to the entity.
  • Online – Complete process from registration to return filing is online.
  • Easy goods movement – It helps for easy movement of goods across country.

GST returns

GST returns GSTR1, GSTR 3B are to be filed on monthly/quarterly basis depending on business & turnover one is involved in.

We help you to comply with GST right from getting regsistrations to GST return filing.

Payroll/Salary management

Setting best possible salary/payroll structure for your employess along with paying on time salary is morst important to keep your employees happy which in turn helps you to get best efficiency out of them.

Payroll management involves all payments made to employees along with deduction of Income tax, provident fund, ESIC, profession tax. Business needs to keep all records related to this for statutory authorities.

We offer payroll solutions based on your business needs & scale.

Who should outsource pay roll solution:

Time saving : Our payroll system helps you save time by no need to develop & maintain your payroll system.

Accurate TDS payment & returns : Amount of TDS to be paid every month is informed & TDS returns of tax deducted from your employees is filed.

PF/PT returns : Timely returns of PF/PT are filed every month.

Online salary payments or pay cheques : Details of amount payable to each employee is given to company to make payment either online or cheque payments.

Payslip generation: Everymonth payslips are generated to be distributed to employees.

Report of deductions: Report of all deductions employee wise are made available.

Full & final payment : In case of retirement or resignation of employee, final amount payable to him after consideration of all taxes & statutory dues is given for payment to employee.

Form 16 : Form 16 A is issued to employee at every year end.

Gratuity & leave encashment : Advice is provided with respect to investments to be made towards gratuity & earned leaves payable to employee  at the time of retirement.

Part time CFO Services

In case you are setting up an Indian subsidiary or your company is looking to expand, yours is a startup, but you can not afford full time CFO, then this part time CFO servie is

Part time CFO gives you lot of intangible benefits at 20-30% of cost of full time CFO.

Below services which are to be customised based on clietns business are covered under part time CFO services :

  • Accounting process review & update
  • Internal control system review & setup
  • Statutory & legal compliances review
  • Data analysis
  • Various ratios analysis
  • RBI/FEMA compliances
  • MIS & reporting system development for Indian management & for parent company out of India.
  • Various other intangible

Service for Individuals

Return filing

Individuals always face the problem of which return to be selected, if there is income from more than one source. Where to mention income from house property, interest income. Which assessment year to be selected. Which income of minor needs to be clubbed etc. By using our service of return filing, you will be rest assured that return is filed You will also get data of all years for which your return is filed by us.

Tax Planning for individuals

Tax planning is not to be done at the end of the year rather it starts at the beginning of it. First thing which is taken into consideration are new provision applicable as per What are the different kind of income a person is expecting during the year. Like where to invest in case of sale of house property, sale of shares, mutual funds. How to deduction of municipal tax payment. What needs to be done if one has more than one house property. Our professionals can guide you & save optimum tax for you in this.