Accounting Services

Good accounts are the basis of good decisions, clean compliance and a business that lenders and investors can trust. We keep books for startups, MSMEs, companies, professionals and non-profits, accurately, on time and in a form that makes tax returns, audits and management decisions easier.

What accounting is, and why records matter

Accounting is the recording, classifying, summarising and analysing of a business's financial transactions. It shows how the business is doing: profit, cash, what it owns and what it owes. Proper records are needed to:

• meet statutory requirements under the Companies Act, Income-tax Act and GST law;
• file accurate tax returns;
• manage cash flow;
• apply for loans and raise investment;
• get through audits and assessments smoothly;
• take decisions based on real numbers.

Without them, businesses face poor control of money, penalties for non-compliance and a loss of confidence from banks, investors and partners. Section 44AA of the Income-tax Act and section 128 of the Companies Act set out who must keep books and for how long (generally eight years).

Our accounting services

Bookkeeping

• Recording sales, purchases, receipts, payments and journal entries
• Sales and purchase registers
• Bank and credit card reconciliations
• Cash book and ledgers
• Expense tracking by category and cost centre

Books are kept current and ready for audit at any time.

Financial statements

• Profit and loss account
• Balance sheet
• Cash flow statement
• Notes to accounts, in Schedule III format for companies

Accounting standards

Books are kept under the applicable framework: Indian Accounting Standards (Ind AS) for companies that must follow them, the Accounting Standards notified under the Companies Act for others, and the income computation and disclosure standards for tax purposes, so the figures hold up in audits and assessments.

Payroll accounting

Salary processing and reimbursements, PF, ESI, professional tax and TDS deductions, and payroll registers. See payroll management.

Accounting for tax compliance

• GST: registers kept to match returns, monthly reconciliation with GSTR-2B
• TDS: deductions identified at the time of booking, with quarterly reconciliation
• Income tax: books closed in a form ready for computation and filing

Startups and MSMEs

• Setting up the accounting system and chart of accounts from the start
• Choosing suitable accounting software
• Investor reporting, valuation support and data rooms for funding
• Budgets, cost control and cash forecasts

Virtual and outsourced accounting

• Cloud-based accounting on Tally, Zoho Books, QuickBooks or your own system
• Remote bookkeeping with secure document sharing
• Monthly or quarterly reports
• A dedicated accountant for your business

See accounts outsourcing for the monthly arrangement.

Who we work with

• Startups and new businesses
• MSMEs and family businesses
• Companies and LLPs
• Professionals and consultants
• NGOs and trusts
• E-commerce and service businesses

Benefits of professional accounting

• Lower risk of non-compliance and notices
• A clear view of profit, cash and costs
• Better cash flow management
• Reports on time, every time
• Lower cost than a full in-house team

Accounting as a management tool

Good accounts do more than satisfy the law. They show which products, services or customers make money, where costs can be cut, and whether the business can afford to expand or borrow. We provide management reports (MIS) with the figures that matter for your business, each month or quarter.

Common questions

Which accounting software do you use?

We work on Tally, Zoho Books, QuickBooks and most common systems, or can recommend one if you are starting out.

Can you take over books that are behind?

Yes. We review the records, bring them up to date and then move to a regular monthly cycle.

Who owns the data?

You do. Books are kept in your name and you have access to them at all times.