Accounting

Overview

Accounting is that the systematic process of recording, analyzing, and interpreting financial transactions. it is the responsibility of every business – whether large or small to furnish their accounting records to the tax Department. Usually, start-ups ignore and after few years, they have to face problems. To avoid problems like raids and fines, it is often good to require care of your financial records and furnish details to the government agencies.

Our Process

Step 1

Documents are provided by you from time to time basis

Step 2

Recording of the transactions in our online cloud software

Step 3

Passing of necessary journal entries to close the book (Depreciation, provisions, bad debts etc. entries)

Step 4

Preparation of company financials such as balance sheet, profit and loss account and cash flow statement at the end of the year

Step 5

Preparation of reports as needed by management

Choose Your Package

All Inclusive Pricing – No Hidden Fee

Basic
- ₹ 1500
- - Monthly volume of transactions
    upto 50
  - Fixed per month
  - Free subscription to Accounting Software
  - Bookkeeping & Accounting
  - Monthly Accounts
  - Dedicated accountant
  - Journal Entries
  - Bank Reconcilation
  - Reconcile Accounts Payable/ Receivables
  - Balance Sheet & Profit & Loss Account
- Purchase Now

Premium
- ₹ 2500
- - Monthly volume of transactions
    upto 51-100
  - Fixed per month
  - Free subscription to Accounting Software
  - Bookkeeping & Accounting
  - Monthly Accounts
  - Dedicated accountant
  - Journal Entries
  - Bank Reconcilation
  - Reconcile Accounts Payable/ Receivables
  - Balance Sheet & Profit & Loss Account
- Purchase Now

Ultimate
- ₹ 5000
- - Monthly volume of transactions
    upto 200-300
  - Fixed per month
  - Free subscription to Accounting Software
  - Bookkeeping & Accounting
  - Monthly Accounts
  - Dedicated accountant
  - Journal Entries
  - Bank Reconcilation
  - Reconcile Accounts Payable/ Receivables
  - Balance Sheet & Profit & Loss Account
- Purchase Now

Benefits

Budget Planning

Budget planning helps organizations in effectively controlling the income and expenditure of the company while monitoring the managerial policies and goals of the business

Evaluating the performance of the business

Helps in measuring the performance of the business with regard to key metrics like net income, sales growth, etc.

Managing cash flow

Regular tracking of the cash that comes into the business helps in predicting trends, payment to staff and suppliers, covering debts, etc

Financial information to investors and stakeholders

Investors will get a much better sense of the financial health of the business to understand its solvency, creditworthiness, liquidy, stocks, and bond issuers of the business

Who mandates Accounting and Bookkeeping Service?

Every company / firm who operates the business in India should abide by statutory regulatory requirements which include maintenance of books of accounts.

As per the section 128 of the companies act, 2013, mandate every company including private limited company, public limited company, one person company has to maintain Company’s Books of Account in good order.
As per section 34 of the LLP Act 2008, limited liability partnership [LLP] requires to compulsory maintain proper books of account and statement of account & solvency relating to its business operation affairs.
As per Section 44AA of the Income Tax Act, every business (including sole proprietor and firm) requires to maintain proper books of account if income exceeds INR 1,20,000/- (one lakh twenty thousand rupees) OR his total sales, turnover or gross receipts exceeds INR 10,00,000/- (ten lakh rupees) in any one of the three years immediately preceding the previous year then.
Every professional carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or any other profession shall mandatorily keep and maintain such books of account to compute his total income for, income tax return filing.

Documents Required

Bank statements of the business

Details of money transactions

Sales book & purchase book

Details of assets

Pre-incorporation expense details

Incorporation documents of business

Registration certificates like GST, Provident Fund, PT, Etc

Clear All Your Doubts !

Why do you have to outsource your accounting work to us?

We have a team of experts who can assist you maintain all of your records on our cloud platform, thereby saving you tons of your time and effort.

Is my data secured with you?

We have the simplest practices that ensure full confidentiality. Your data is important and limited for us and that we shall not share it with anyone.

What benefits does better accounting give to a company?

Good accounting systems can help the management analyze the records and make better decisions. Also, management can make use of reports to present data ahead of prospective investors and lenders to boost funds.

Is book-keeping a compulsory provision as per companies or the income tax Act?

If the sale/turnover/gross receipts from the business or profession are more than ₹ 25,00,000 or the income from business or profession is more than ₹ 2,50,000 in any of the three preceding years, then books of accounts will be compulsorily maintained. As per the companies act, all companies have to maintain books of account at their registered office either in physical copy or electronically.

Let’s start your business journey with Book My Consultant.

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