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What Book keeping?
About Book Keeping Service in India
Bookkeeping in India refers to the process of recording and maintaining financial transactions of a business or organization on a day-to-day basis. It involves the systematic and accurate recording of financial transactions, including purchases, sales, receipts, and payments, in a chronological order.
Bookkeeping is an important aspect of accounting and provides the necessary information for financial reporting, including preparation of financial statements, tax returns, and other compliance requirements. It helps businesses keep track of their financial performance and make informed decisions based on accurate financial data.
In India, businesses are required to maintain proper books of accounts and financial records under various laws, including the Income Tax Act, Companies Act, GST laws, and other regulatory frameworks. Bookkeeping is typically performed by trained professionals, including chartered accountants, bookkeepers, and accountants, who use various accounting software and tools to maintain accurate financial records.
WHY DO I NEED BOOK KEEPING SERVICE
Importance of Book Keeping Service in India
Bookkeeping is of great importance to businesses in India for several reasons:
Legal Compliance: Businesses in India are required by law to maintain proper books of accounts and financial records. Failure to comply with these requirements can lead to penalties, fines, and legal action.
Financial Reporting: Proper bookkeeping provides businesses with accurate financial data, which is crucial for financial reporting and decision-making. This includes the preparation of financial statements, tax returns, and other compliance requirements.
Taxation: Accurate bookkeeping is essential for determining tax liabilities and filing tax returns on time. It also helps businesses take advantage of tax deductions and incentives.
Business Performance: Bookkeeping helps businesses track their financial performance and identify areas for improvement. This includes monitoring cash flow, tracking expenses, and identifying trends in sales and revenue.
Investor Confidence: Proper bookkeeping can help build investor confidence by providing accurate financial data and demonstrating that the business is being run in a responsible and transparent manner.
In summary, bookkeeping is a critical function for businesses in India, providing accurate financial data that is essential for legal compliance, financial reporting, tax compliance, and decision-making.
Documents required for book keeping service
List of Documents Required
Bookkeeping service providers typically require the following documents to perform their services:
Bank Statements: Copies of bank statements for all business accounts, including checking, savings, and credit card accounts.
Invoices and Receipts: Copies of all invoices and receipts issued and received by the business during the accounting period.
Purchase Orders: Copies of all purchase orders issued by the business during the accounting period.
Payment Records: Copies of all payment records, including checks, online payments, and wire transfers.
Payroll Records: Details of employee compensation, including pay stubs, time sheets, and tax withholding information.
Inventory Records: Details of inventory purchases and sales, including quantities, prices, and dates.
Depreciation Records: Details of all fixed assets owned by the business, including purchase dates, costs, and depreciation schedules.
Tax Records: Copies of all tax filings, including income tax returns, sales tax returns, and payroll tax returns.
Financial Statements: Copies of all financial statements, including income statements, balance sheets, and cash flow statements.
The specific documents required may vary depending on the nature and complexity of the business. It is advisable to consult with the bookkeeping service provider to determine the specific requirements and ensure that all necessary documents are provided.
We Follow a Simple Pricing Model as Follows!
BASIC
( UPTO 50 LACS)
₨3999
₨
1199
+ GST -
BOOK KEEPING
-
LEDGER ACCOUNTS
-
ACC. RECONCILIATION
-
BANK RECONCILIATION
-
ACCOUNTS RECEIVABLE/PAYABLE
-
INCOME TAX AUDIT ASSISTANCE
-
DEDICATED ACCOUNT MANAGER
UPTO 50L
ADVANCE
From 50L to 1 Cr.
₨6999
₨
1999
+ GST -
BOOK KEEPING
-
LEDGER ACCOUNTS
-
ACC. RECONCILIATION
-
BANK RECONCILIATION
-
ACCOUNTS RECEIVABLE/PAYABLE
-
INCOME TAX AUDIT ASSISTANCE
-
DEDICATED ACCOUNT MANAGER
UPTO 1 Cr.
PROFESSIONAL
From 1 Cr. to 2 Cr.
₨9999
₨
3999
+ GST -
BOOK KEEPING
-
LEDGER ACCOUNTS
-
ACC. RECONCILIATION
-
BANK RECONCILIATION
-
ACCOUNTS RECEIVABLE/PAYABLE
-
INCOME TAX AUDIT ASSISTANCE
-
DEDICATED ACCOUNT MANAGER
UPTO 2 CR.
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