We, ‘Vakilsearch’ offer Accounting & Book-keeping Service to keep you abreast of the costing, bad-debts, overheads and profitability. Here’s how we can help you get rid of all accounting & book-keeping worries -
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.
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.
Basic taxation advisory:
At Vakilsearch, our taxation experts offer the best-in-class tax planning strategies that are suitable for your business structure. We understand the changing tax regimes in India and offer timely information.
Filing of IT returns:
Cloud-based accounting software license: We provide Zoho online accounting software that helps in staying compliant with GST and managing your finances and business workflows. With the software, you can take complete control of the end-to-end accounting system, create GST invoices, filing of tax returns, update expense receipts, create purchase orders, track your inventory and more. Right from profit and loss statements, GST reports to inventory reports Zoho lets you generate more than 500 reports. It also lets you customize reports and filter the data for better insights.
Net worth Certificate
Our services are offered on the cloud, which means that you'll have 24x7 access to your accounts and can be sure of confidentiality.
If you're going to raise funding or ask for a loan at a later stage, you would need to provide your books of accounts from the start of operations. The proper record of transactions helps you reduce your compliance.
All businesses make decisions based on financial data as they provide an unbiased account bookkeeping of the efficiency of the business. In their absence, it is always possible for bias to creep in to decision-making.
1k Businesses Monthly
We maintain the accounts of around 200 companies and LLPs every month with a small team, by leveraging our tech capabilities. Come on board and experience convenience.
9.1 Customer Score
We make your interaction with government as smooth as is possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations.
300 Strong Team
Our team of experienced business advisors are a phone call away, should you have any queries about the process. But we'll try to ensure that your doubts are cleared before they even arise.
23rd March: July 2020 to March 2021: RBI’s Accounting Year
The apex bank, RBI has finalized 2019-20 year to end on coming June 30. And, the financial year 2020-21 will start from July 1, 2020, and end on March 31, 2021. This move has been taken to align with the Government.
11th April: Accounting Norms for companies may get relaxed
There is an industry demand to extend the financial year until 30th June. The Ministry of Corporate Affairs is already in talks with ICAI (Institute of Chartered Accountants of India) for this.