Accounting Services form the backbone of our financial management offerings. Our systematic approach to accounting ensures the accurate recording and organization of financial transactions. We implement stringent data security measures to protect your financial information, allowing you to concentrate on your core business activities while we manage your bookkeeping needs efficiently. Our accounting services include:

• Setting up ‘Books of Account’: We establish your accounting system using the appropriate software or formats, tailored to your business requirements.
• Charting of Accounts: We create a detailed and structured chart of accounts to categorize your financial transactions effectively.
• Categorization of Income and Expenses: We classify and record income and expenses into appropriate categories for accurate financial reporting.
• General Ledger Maintenance: We maintain the general ledger to ensure all financial transactions are recorded and balanced.
• Invoicing Services: We handle invoicing processes to ensure timely and accurate billing.
• Accounts Receivable and Payable Services: We manage accounts receivable and payable to ensure efficient cash flow management.
• Preparation of Aging Reports and Summaries: We generate reports to track outstanding receivables and payables.
• Reconciliation Services: We perform reconciliations of accounts, bank statements, credit cards, and UPI apps to ensure accuracy.
• Preparation of Financial Statements: We prepare financial statements in accordance with Generally Accepted Accounting Principles (GAAP) to reflect your business’s financial position accurately.
• Cash Flow Management: We oversee cash flow to ensure sufficient liquidity for business operations.
• Payroll Reconciliations: We reconcile payroll records to ensure accuracy in employee compensation and deductions.

Finalization of Accounts is a crucial step in ensuring the accuracy and compliance of your financial records. Typically performed at the end of the financial year, this process involves periodic checks and reconciliations, which are best conducted monthly or quarterly. Our finalization services include:

• Posting Opening Balances: We carry forward balances from the previous year’s audited balance sheet.
• Preparation of Bank Reconciliation Statements: We reconcile bank statements to ensure consistency with recorded transactions.
• Reconciliation of Sales, Purchase, Output Tax, and Input Tax with GST Returns: We verify that all GST-related transactions are accurately reported and reconciled.
• Clearance of Suspense Accounts: We address any discrepancies in suspense accounts, if present.
• Ensuring No Entries on National Holidays: We verify that no transactions are recorded on national holidays to maintain accuracy.
• Valuation of Stocks: We value stocks at Cost or Net Realizable Value (NRV), whichever is lower.
• Extraction of Customer and Vendor Ledgers: We review ledgers and obtain balance confirmations from customers and vendors.
• Management Consultation for Bad Debts Entries: We provide advice on handling and recording bad debts.
• Monitoring Cash Expenses: We oversee cash expenses to ensure positive cash balances and efficient management.
• Proper Capitalization of Asset Purchases: We record new asset purchases and depreciation entries correctly.
• Accurate Recording of Interest on Loans and Investments: We ensure interest income and expenses are recorded accurately.
• Provisioning for Outstanding and Prepaid Expenses: We make provisions for expenses that are outstanding or prepaid.
• Ensuring Correct Entries for Audit Fees and Business Expenses: We record audit fees and other business expenses accurately.
• Adjustment of Personal Expenses in P&L Account for Tax Purposes: We adjust personal expenses for tax purposes in the Profit and Loss account.
• Verification of Petty Cash Expenses: We review petty cash expenses for accuracy.
• Comparative Analysis of Expenses: We compare current year expenses with previous years to identify significant variations.
• Confirmation of TDS Deductions and Payments: We verify Tax Deducted at Source (TDS) deductions and payments.
• Reconciliation of TDS Receivable with Form 26AS: We reconcile TDS receivables with Form 26AS.
• Timely Recording and Payment of PF, ESI, and Statutory Dues: We ensure timely recording and payment of Provident Fund (PF), Employee State Insurance (ESI), and other statutory dues.
• Detailed Narration with Each Entry: We provide thorough explanations for each financial entry.
• Comparison of Profit Ratios: We compare Gross Profit Ratio and Net Profit Ratio with previous years to identify and address significant variations.
• Ensuring Compliance with Partnership Deed Terms: We verify that interest on capital and remuneration to partners are in line with the partnership deed and Income Tax Act, 1961.