Bookkeeping is the process of keeping a record of all financial transactions and preparing necessary financial statements like income statements and balance sheets. Bookkeeping includes activities like passing entries in journals to designing and maintaining a complete record of the book of accounts of a company.

It is imperative to keep a record of the company's financial statements for ease in meeting certain legal and regulatory compliances that every company is required to follow.

There are many benefits of bookkeeping, and they are as follows: · Companies Act requires companies to mandatorily file annual returns with the registrar of companies, and non-compliance can lead to heavy fines and other penalties. In order to file these returns, it is imperative to maintain a record of their financial statements and a complete record of the company's book of accounts. · The Income Tax Act requires companies to conduct annual audits, which can only be undertaken duly if the books are maintained as mandated by law. · Moreover, bookkeeping helps companies and individuals keep track of their revenues, monitor their expenses, and make sound financial decisions accordingly.

Accountants or bookkeepers understand the core fundamentals and importance of accounting. It is crucial to classify expenses correctly as revenue in nature or capital in nature. Outsourcing bookkeeping can help businesses forget about the hassles involved with bookkeeping while expending their time and energy in running the business.

Most startups do not require hiring a full-time accountant when the transactions are limited, as it might not be economically feasible during the initial run of the startup. We provide special accounting and bookkeeping services catered to meet startups' needs without hiring a full time accountant or bookkeeper.

Our experts shall help prepare and provide standard financial statements and records. This shall include but shall not be limited to: · Balance Sheet · Trial Balance · Account Payables & Account Receivables · Profit And Loss Account

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