Keeping systematic and comprehensive records of your financial transactions is very important for every big and small business as it will help your business in summarising and analyzing the transactions to tax collection entities and regulators. It will lead you to maintain the profit and loss records and the value of your firms' assets.
Recording, retrieving and storing financial transactions is one of the most essential functions for every profit or non-profit organizations. Tasks involved in bookkeeping are: General ledger accounting, accounts reconciliation & consolidation, management reporting, inter-company transactions, interim /annual financial statements, project/product accounting, fixed asset accounting.
As a small business owner, updating your receivables and payables account is essential. Since they both require double-entry bookkeeping, you need to create the debits and credits. Tasks involve in Receivables and Payables Accounting is: Billing, credit and collection management & analysis, purchase order management, contract management, payment authorization, cost accounting, and vendor management.
When it comes to business, these two are mandatory As submission of financial and non-financial information to a government agency is important and obeying the legal laws in regard to the business is also mandatory.
Tasks involved in Compliance Management & Statutory Reporting are: Financial statements preparation under Indian GAAP, US GAAP, financial budgeting, SOX compliance advisory, Compliance with Reserve Bank of India, FEMA, Registrar of Companies( MCA) guidelines. Compliance with income tax, provident fund, ESI, labor laws, and all applicable statutes.
You need to deal very wisely in terms of financial and investments decisions. For this, you must have someone who could guide you for the betterment and upliftment of your business. Tasks involved in Corporate Finance are Cash/Treasury management, cash receipts & collection management, bank reconciliation, credit management & analysis
Filing a tax return is a sign that you’re a responsible citizen of this nation. Tasks involved in a tax return are: Return preparation, document organization on the web server, upload processed data to the client, access scans via the web browser.
We suggest you hire someone highly professional and experienced person to indulge in accounting who can easily keep the records for your management.
In case you need someone highly skilled to keep your records, we would be glad to assist you!
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