Keep a track of your finances by maintaining Books of Accounts
Accounting and Bookkeeping Services
What is Accounting and Bookkeeping?
Regular tracking of business transactions is very necessary. From an income of one rupee to an expense of thousand rupees, recording ensures transparent business operations by tallied account. The accounting and bookkeeping services can help in tracking every single transaction undertaken in past from learned decision of future.
The part of recording the financial affairs of the business is called bookkeeping, whereas accounting is the preparation of financial accounts. Accounting for Small business is mandatory unless it is a Sole proprietorship with certain exceptions. Apart from compulsion, it is better to keep accounts updated with accuracy to avoid financial muddles. Expertise knowledge of accounting is essential even in the case of accounting for small businesses, to ensure the books are maintained as per the accounting standards. Maintenance of accounts is as an essential requirement for a home run business as it is to an industrialist.
Benefits of Accounting and Bookkeeping
To gauge the income and expenditure of the business
To ensure a smooth and transparent business, every individual, firm or a corporation is required to know about the income and expenditure incurred or generated. This helps them to plan and strategize their financial resources and exploit them accordingly.
Timely access to operational information
Up to date records provide access to operational information to the management. Although business owner(s) or managers are not directly associated with all transactions, accounting and bookkeeping help them to keep an eye on all the transactions from time to time.
Regular reconciliation rationalise decisions
Accounting comes with the reconciliation of data periodically. Monthly or quarterly reconciliation helps management to analyze the beneficial or detrimental aspects of the business. Hence, futuristic decisions can be rationalized with the analysis of loss and profit.
Attract investors with accurate financials
Investing in any business would be followed only after complete analysis of business and its financial condition. While approaching investors, you need to make sure that your books of accounts are up-to-date and accurate. Inconsistency may refrain investors to jump into the business.
Ready to furnish data for timely compliance
Accounting makes it easy to extract data and submit it on time for regular return filing, compliance or scrutiny for the businesses.
Documents required for Accounting and Bookkeeping Services
PAN Card
Copy of PAN Card of the business entity
Incorporation Documents
Certificate of Incorporation, MoA – AoA/ LLP Agreement / Partnership Deed
Bank Statement
Bank Statement of current account in name of business
Bank Statement of Partners
Bank statement of saving account of partners is also required
Registration Certificates
Certificate of Government registration, such as GST
Invoices and Bills
Sales invoices and expense bills for concerned accounting period
Details of Assets
Invoices of sale or purchase of assets or pending loans
Preliminary expense
Expenses made for company or LLP registration by promoters
Details of Cash transactions
All the transactions incurred in cash needs to be booked
Need assistance? Don’t worry, experts are here to help!
Call us at: +91 9729-443-137 or Email us: info@gameoftaxes.in
Manage books in 3 Easy Steps
- Pick the best suitable Package for accounting and bookkeeping
- Spare less than 10 minutes to fill our online Questionnaire
- Upload required Documents
- Make quick payment through our secured gateways
- Assigning a dedicated Relationship Manager
- Provide the details of the Business and transactions
- Entries in the Books of Accounts
- Maintaining the book of accounts on a daily basis
- Deliver up to date data
- Get access to updated Accounts as per your requirement
- For us, data secrecy is a priority
Explore Accounting and Bookkeeping Services
Frequently Asked Questions
Whether small business accounting be done in-house?
Keeping in-house accounting and bookkeeping services would demand both from the owners – time and efforts. Hence, rather than focusing on such administrative task, it is beneficial to focus on the growth of the business. Also, the in-house accountant would cost considerably higher as compared to the price of getting accounting packages for bookkeeping from LegalWiz.in.
Why your business should outsource the option of bookkeeping?
Many business owners do not have the knowledge, time or ability to accurately perform their bookkeeping duties. Online accounting services will provide you the time required to focus on your businesses operations.
Why does your business need a bookkeeper?
Availing a trustworthy bookkeeping service ( offline or online) for any business ensures a well-run accounting system which helps you to manage your business.
What will you get if you opt for gameoftaxes.in online bookkeeping services?
LegalWiz.in provides quarterly services where the accounting is done by the experts in the field. You get trial balance, profit and loss statements, balance sheet and accounts soft copy as a deliverable after opting for our bookkeeping services.
What other related services can I avail along with the bookkeeping?
You can also opt for GST Return Filing, TDS Return Filing, Annual Compliance Services for Companies and LLPs, Income Tax Return (ITR) Filing along with accounting and bookkeeping services.
More Questions? Seek Help of an Expert
Call us at: +91 9729-443-137 or Email us: info@gameoftaxes.in
ACCOUNTING AND BOOKKEEPING