Accounting & Bookkeeping Service
The recording of financial transactions is bookkeeping, whereas, accounting is interpreting, classifying, analyzing, reporting, and summarizing the financial data. A properly maintained accounting & bookkeeping system helps a business to reduce accounting costs and analyze its financial growth.
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What are Accounting services - An Overview
Accounting is the systematic process of recording, analyzing and interpreting the financial transactions. It is the responsibility of every business – whether large or small to furnish their accounting records to the Income Tax Department. Usually, start-ups ignore and after few years, they have to face problems. To avoid problems like raid and fines, it is always good to maintain your financial records and furnish details to the government agencies.
Benefits of ESI Registration
To gauge the income and expenditure of the business
Timely access to operational information
Regular reconciliation rationalise decisions
Attract investors with accurate financials
How we help in Accounting
With the ever-changing business landscape, Vakilsearch’s certified auditors and accounting professionals, and payroll specialists assist in a broad spectrum of financial services that cover:
Basic financial consultation:
We have expert chartered accountants and financial professionals who offer basic financial consultation that your company needs.
Bookkeeping is a process of recording financial transactions and information on a daily basis. The account bookkeeping services may include payments made to suppliers, loan payments, customer invoice payments, monitoring asset depreciation and generating financial reports.
Preparation of accurate annual financial statements and monthly reports:
One of the major concerns of creditors and investors is a company’s financial health. Financial statements serve as a source for a company’s investor to gauge the profitability and safety for their investment. Financial statements, which include balance sheet, income statement and cash flow statement give insights into the company’s financial position, an overview of assets and liabilities, stockholders’ equity. It also helps understand the company’s revenues and expenditure, how the company pays its debts and how it meets its expenses for operations.
Assistance in designing invoices:
Invoices are records of sale transactions that a company makes. They contain the details of the shipment like the number of items, item description, total sale price and selling price per item, terms of the sale, buyer’s and seller’s information, amount due, invoice number, method of payment and the payment due date. Invoices establish the legal rights wherein if the customer fails to make the due payment, the company can take it forward legally.
Vakilsearch adopts the best practices when it comes to maintaining confidentiality in the data of our customers. We ensure your information is not leaked or disseminated to the third party. The accounting software we use is
By following better accounting you can analyze the intricate financial details, prepare reports to accurately include quarterly and year-end closing documents, monitor and check taxation issues and filings, etc.
Cloud-based software can be accessed from anywhere, moreover, your financial position can be tracked on fingertips (through mobile app) on real-time. There is no need to manually take the back-up and worry of losing the data. Some of the advanced features like integration with the bank, GST portal, API based automation are also possible through cloud software. As your organisation grows, you can add additional modules and manage all operations, integrated with accounting software.