Innumerable transactions are taking place every day in a business organisation. Since most of them being financial in nature, correct recording of these transactions is very important. This not only helps at the time of finalization of accounts but also in the event of scrutiny or demand of information from any authority. Accounting being an integral part for any business entity these a days, every organization, whether big or small in size, maintains an accounts department for recording of financial transactions.
Outsourcing of Accounting Work
With the increase in number of transactions and escalating complexities in legal framework, these days every organization has started outsourcing its accounting work to some outside professional firm, which is not only competent in handling the accounts but also has expertise in application of various laws.
Further, for small companies, keeping a full time accountant may be costlier as compared to size of accounting. Hence outsourcing becomes reasonable.
For big business entities, despite maintaining a separate accounts department and keeping a full time accountant, often the need for professional review of accounts is needed, reason being that a professional firm keeps expertise on all regulatory matters which the accountant may not be.
Maintaining of Books of Accounts
We, at businesswonder.com, provide the full gamut of accounting services. We understand that for a business entity, it is very important to maintain correct accounts as the failure to do so may prove fatal for the survival of company. Maintaining proper accounts is very essential as the same is required for income tax purposes, for filing with the corporate authorities, complying with any notice/demand of records from regulatory authorities, etc.
Maintaining of books of accounts of business entities are mandatory for almost all business which satisfy the conditions as per Income Tax Act 1961. In case of failure to maintain proper accounts, there are bound to be innumerable problems that might even lead to collapse of business. We have a separate accounting division, which is dedicated to providing all round accounting services to our clients. Our accounting division is headed by experienced professionals. We provide accounting services to our clients keeping in mind their financial results. We ensure that complete and correct accounting records are maintained that are useful in case of any scrutiny or demand of information from any statutory authority.
General Accounting and Book Keeping
Preparation and maintenance of day to day accounts
Accounts management on monthly/quarterly basis
We ensure compliance with accounting standards and other statutory requirements/specifications
Preparation of financial statements for the purpose of annual statutory audit.
Salary structuring of employees to ensure maximum payout to them
Based on inputs received from the organization, monthly payroll is prepared
Deduction of Provident fund, Professional tax, etc. as per the statutory requirements and deposit the same.
Preparation of Form 16 of employees.
Preparation of Form 16A in case of other payments
Timely and correct deposit of Tax Deducted at Source (TDS)
Quarterly reconciliation of payments/ statutory deductions with books of accounts
Tax planning and returns
Preparation and filing of periodic income tax returns, sales tax returns, etc.
Advice about sound investments decisions to avail various deductions under Income Tax Act
Cash flows and forecasting
Preparation of cash flows on a periodic basis
Analysis of cash requirements of business
Accounting system design
Asset accounting management
To know more details and to outsource accounts and avail our professional service, please e-mail to firstname.lastname@example.org.