Books of account, financial statements and payroll for businesses, with the statutory filings that follow from them.
Accounting
- Books of account in Tally from bank statements, GST returns and invoices
- Bank reconciliation statements
- Financial statements in Schedule III format for companies, and for proprietorships, firms, LLPs and trusts
- Depreciation under the Companies Act and the Income-tax Act, and deferred tax
- Setting up an accounting system, accounting policies and checklists for a new business
Payroll
- Monthly payroll from attendance, leave and pay structure
- Deductions for income tax, provident fund, ESI and profession tax
- Payslips
- Monthly and annual returns for provident fund, ESI, profession tax and TDS on salaries
Compliance and reporting
- Compliance calendar for tax, company law and labour law filings
- Periodic financial reports: profit and loss account, balance sheet, cash flow statement and notes
Personnel recruitment and selection
Assistance in selecting accounts and finance staff for a client’s organisation.
Questions
Why does compliance matter for an organisation?
Filing returns and statements on time avoids interest, late fees and penalties, and keeps the records that lenders, investors and authorities ask for.
Why is financial reporting important?
Financial statements show the performance and position of the business to its owners, lenders and other stakeholders, and are the basis for tax returns and audits.