Description

Accounting Services

Turnover upto 20 Lakhs

Rs 1,000/- (inclusive all)

  • One Month Accounting.

 

Turnover upto 50 Lakhs

Rs 2,000/- (inclusive all)

  • One Month Accounting.

 

Turnover upto 1 Cr.

Rs 3,000/- (inclusive all)

  • One Month Accounting.

 

Documents Requirements

  • PAN Card

Copy of PAN Card of the business entity

  • Incorporation Documents

Certificate of Incorporation, MoA – AoA/ LLP Agreement / Partnership Deed

  • Registration Certificates

Certificate of Government registration, such as GST

  • Bank Statement

Bank Statement of current account in name of business

  • Bank Statement of Partners

Bank statement of saving account of partners is also required

  • Invoices and Bills

Sales invoices and expense bills for concerned accounting period

  • Details of Assets

Invoices of sale or purchase of assets or pending loans

  • Preliminary expense

Expenses made for company or LLP registration by promoters

  • Details of Cash transactions

All the transactions incurred in cash needs to be booked

Procedure

1-2 Hours

  • Select Package
  • Start by selecting the appropriate one, fill out the required forms, or simply speak to our experts online for assistance.

2-3 WORKING DAYS

  • Obtain the details of the Business and transactions
  • We will obtain the details about your business and transactions.

3-4 WORKING DAYS

  • Entries in the Books of Accounts
  • We will do all the entries in the books and accounts and maintain them on a daily basis.

7-8 WORKING DAYS

  • Deliver up to date data
  • We will deliver you up to date data as per requirement.

Knowledge Portal

What is Accounting ?

Regular tracking of business transactions is very necessary. From an income of one rupee to an expense of thousand rupees, recording ensures transparent business operations by tallied account. The accounting services can help in tracking every single transaction undertaken in past from learned decision of future.

The part of recording the financial affairs of the business is called bookkeeping, whereas accounting is the preparation of financial accounts. Accounting for Small business is mandatory unless it is a Sole proprietorship with certain exceptions. Apart from compulsion, it is better to keep accounts updated with accuracy to avoid financial muddles. Expertise knowledge of accounting is essential even in the case of accounting for small businesses, to ensure the books are maintained as per the accounting standards. Maintenance of accounts is as an essential requirement for a home run business as it is to an industrialist.

Advantages of Accounting Services

1.To gauge the income and expenditure of the business

To ensure a smooth and transparent business, every individual, firm, or corporation is required to know about the income and expenditure incurred or generated. This helps them to plan and strategize their financial resources and exploit them accordingly. 

2.Timely access to operational information

Up to date records provide access to operational information to the management. Although the business owner(s) or managers are not directly associated with all transactions, accounting and bookkeeping help them to keep an eye on all the transactions from time to time.

3.Regular reconciliation rationalize decisions

Accounting comes with the reconciliation of data periodically. Monthly or quarterly reconciliation helps management to analyze the beneficial or detrimental aspects of the business. Hence, futuristic decisions can be rationalized with the analysis of loss and profit.

4.Ready to furnish data for timely compliances

Accounting makes it easy to extract data and submit it on time for regular return filing, compliance, or scrutiny for the businesses.

5.Attract investors with accurate financial

Investing in any business would be followed only after a complete analysis of the business and its financial condition. While approaching investors, you need to make sure that your books of accounts are up-to-date and accurate. Inconsistency may refrain investors to jump into the business.

Frequently Asked Questions

1.Why does your business need a bookkeeper?

Availing a trustworthy bookkeeping service ( offline or online) for any business ensures a well-run accounting system that helps you to manage your business.

2.Why should your business outsource the option of bookkeeping?

Many business owners do not have the knowledge, time, or ability to accurately perform their bookkeeping duties. Online accounting services will provide you the time required to focus on your business operations.

3.Whether small business accounting is done in-house?

Keeping in-house accounting and bookkeeping services would demand both from the owners – time and effort. Hence, rather than focusing on such administrative tasks, it is beneficial to focus on the growth of the business. Also, the in-house accountant would cost considerably higher as compared to the price of getting accounting packages for bookkeeping from Taxfry.in.

4.Can accounting be computerized? Or only manual transactions are approved by the Income Tax Department?

Yes, one can submit computerized accounts, too. Now, it is easier to maintain records and all details of financial transactions on designated software or through computerized records, to eliminate any errors and miscalculations.

5.Do I need to maintain books on my premises or can I appoint an agent to do the needful?

Although accounting can be done individually, it is highly recommended to avail the assistance of accounting professionals who can maintain the records and help you save a lot of time and effort spent on dealing with everyday bills and transactions There is an advantage in taking the opinion of an expert, such as an agent who can maintain the accounting records as demanded by the income tax, and thus, save you a lot of man-hours and hassles of dealing with daily bills and transactions.

6.How secure is my financial data with you?

Taxfry 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

7.How does better accounting contribute to my company?

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

8.How does cloud-based software help and how does it differ from traditional software?

Cloud-based software can be accessed from anywhere, moreover, your financial position can be tracked on fingertips (through a mobile app) in real-time. There is no need to manually take the back-up and worry about 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 organization grows, you can add additional modules and manage all operations, integrated with accounting software.