Accounting & Book-keeping Service
How much more profitable could your business be if you have the time to focus on the core business operations instead of handling a range of Bookkeeping & Accounting tasks?
What is Bookkeeping and Accounting Service?
All you need to know
Every type of business, whether new or established, requires proper financial tracking. Proper accounting and bookkeeping services can accomplish this.
WHAT IS ACCOUNTING AND BOOK KEEPING?
An accountant keeps track of a company’s income and expenditure. An accountant who is well acquainted with the company’s financial situation and offers financial strategy advice is responsible for accounting.
The recording of financial transactions is one aspect of bookkeeping. Financial statements such as balance sheets and income statements, in addition to bookkeeping, are recorded. The bookkeeper is responsible for ensuring that employees file invoices and expenses correctly. Payroll processing is another service provided by bookkeeping.
What are the differences between accounting and bookkeeping?
Book-keeping and accounting services by FINANZEY:
Team EbizFiling is familiar with QuickBooks, Zoho, Tally, and other prestigious Business applications that comply with Indian legislation. We offer customized MIS reports, which are available at the end of each month or at a predetermined time. We maintain the books of accounts on a regular basis and provide over 50 reports.
Instead of hiring an in-house accountant, you can outsource your accounting and compliance needs to us. We will handle your accounting needs so that you can focus on your core business.
Meet all sorts of corporate and compliance requirements in addition to this one.
End-to-end business consultancy services are provided to clients in India and across the world, relying on a progressive concept.
What is Bookkeeping and Accounting Service?
Bookkeeping Service is a transactional and administrative work that manages the day-to-day financial transactions recording, including sales, purchases, receipts, and payments.
A bookkeeping and accounting service proposes a three-tiered approach to developing and maintaining your company’s overall financial processes and management which includes –
- General Accounting & Bookkeeping
- Preparation of Financial Statement
- Tax Return Filing
Most Businesses unable to analyse the health of their businesses & failed because of not maintaining regular books of accounts.
Who mandates Accounting and Bookkeeping Service?
Every company / firm who operates the business in India should abide by statutory regulatory requirements which includes 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.
Why Accounting and Bookkeeping Service?
Professional bookkeeping establishes an important requirement of effective financial management for every business, no matter which industry sector it operates in. When done efficiently, it ensures business growth and mitigates risks.
Accounting Service is more subjective, rendering business owners with financial insights about their business based on information acquired from their bookkeeping data.
Bookkeeping flourished prompt business decision making
When a business or a company is absolute on its accounting compliance needs, their financial information will be reliable, and they will be able to make better financial decisions that are suitably tailored.
Financial statements help to apprehend the crucial financial information
The 3 key reports of financial statements that are drafted as a part of online bookkeeping services in India will let you know sensitive & clear financial information:-
- Profit and loss Statement
- Balance sheet
- Cash flow statement
Evaluate the performance of the business
The accounting and Bookkeeping procedures assist you to keep the records up to date and also track expenses, margin, and possible debt of the business.
Real time tracking of Account Receivable & Payables
With continual maintenance of books of accounts, business owners can track anytime from whom he needs to take money and to whom he needs to pay. This will help manage business’ cash flow management.
Why Outsource Accounting and Bookkeeping Service?
Inefficient bookkeeping departments could lead to unwanted legal implications
As a business owner, your job is not to chase accountants and face compliance mistakes at certain points of time but focus on your core area of the business. As a smart business owner, one should outsource accounting and bookkeeping to professionals.
Finanezy being an absolute accounting solution provider
Our bookkeeping and accounting professionals follow a very unique approach and give the best experience to business owners. Our professionals are actively involved in providing efficient services to businesses from any industry across India.
Our Accounting & bookkeeping procedure, valuable trained resources, cost-effectiveness, convenient delivery, aides to management in the decision-making process for small and medium scale enterprises.
We assure that our clients always get the best Bookkeeping and Accounting services in India.
Our Expertise approach for
fulfilling Accounting Services
- Records Accounting transactions
- Journal Entries
- Bank Reconciliation
- Sales & Purchase Reconciliation with GST
- Prepare Trial Balance
- Prepare Balance Sheet
- Prepare Profit & Loss Statement
- Reconcile Accounts payable/ receivable
- Recording Credit card / Loan entries
- File GST Return
- File Income Tax Return
- Expert advice to minimize tax liabilit
Don’t wait for a single day to have your accounting processes, We provide exactly what you need.
The secret for a successful business is the sustainable account handling of the Day-to-Day business operation. Now, it’s your turn to get the best Bookkeeping and Accounting services for your firm.
FREQUENTLY ASKED QUESTIONS
Q. How do bookkeeping services work?
Bookkeeping can create the financial reporting tools you need to make better decisions. They record all the transactions including profit and loss account, cash flow statement or variance analysis. Also, monitor loans and accounts to ensure that payments are up to date.
Q. How much should I pay for bookkeeping services?
Bookkeeper rates vary depending on the business size, industry, number of transactions, financial services, and complexity of the business. Our professionals will guide you through the payment procedure thoroughly.
Q. What is a report in accounting?
We provide accounting and bookkeeping services like profit and loss account, trial balance and balance sheet on monthly basis.
Q. What is the duration of the accounting or Bookkeeping period?
The accounting or Bookkeeping period is considered to be a month or a quarter while externally it is for twelve months i.e April 1 to 31st March every year.
Q. Is CA Consultation for Bookkeeping and Accounting Services Required?
Yes, CA Consultation is mandatory for an individual who indulges in accounting and bookkeeping service. We provide professional CA Consultaion for bookkeeping and accounting service to our dedicated clients.
Recent Updates
What do you need to know about Bookkeeping and Accounting?
Bookkeeping and accounting are the day-to-day records of financial transactions and other data. The bookkeeping service’s primary aim is to compile financial statements on the basis of the accounts kept in the ledger. Know more in detail about What do you need to know about Bookkeeping and Accounting
April 9, 20211
What are Liabilities in Accounting?
When it comes to business then, assessment of business accounts are important and necessary as well. Just to assess the business account, firms need to ensure that their organizations have the best accountant. An accountant is a person who provides Bookkeeping and Accounting Service. Know in detail about What are Liabilities in Accounting
April 6, 2021
Why SMEs Should Outsource Tax and Accounting Function in their crises
This COVID-19 Pandemic hasn’t only affected the business field management, even well-established organizations, highly stable and performing companies against recession, now no more untouched. As a result, it impacts the Bookkeeping and Accounting services of any organization. Know in detail about Why SMEs Should Outsource Tax and Accounting Function