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The procedure for bookkeeping services typically involves the following steps:
One of our specialists will contact you for bookkeeping services after you send us a scanned copy of your accounting records and one of our experts shall get in touch with you.
Our experts shall then analyze your accounting books and make entries into books according to the same.
As the next procedure, the final tally entry shall be sent by our experts to you for verification and approval.
Once approved by you, our experts shall then prepare the balance sheet and PNC statement of the same.
Once the Balance sheet and PNC are prepared, the books of accounts are finalized and completed and sent to you.
We can serve our clients more efficiently thanks to cutting-edge practise technology.
Bookkeeping services are necessary for all businesses to ensure accurate operational/financial information. Such information is required by Management, Regulators, and Investors. Also, it is a legal requirement for any business to maintain an appropriate book of accounts to ensure that all relevant taxes are paid and tax filings are made on time.
Bookkeeping is the process of recording financial transactions of a business in an accounting system and the creation of reports. However, many small businesses do not have complete accounting departments and require external bookkeeping services. LegalRaasta can provide your business with bookkeeping services through a network of Business Experts and Chartered Accountants across India.
Transaction Recording: Accurately documenting all financial transactions, such as sales, purchases, and payments.
Account Reconciliation: Regularly matching bank and financial statements to ensure accuracy.
Financial Reporting: Preparing key financial statements, including income statements and balance sheets.
Expense Tracking: Monitoring and categorizing business expenses to maintain financial organization and compliance.
Accurate Financial Records: Ensures all financial transactions are accurately recorded and organized.
Informed Decision-Making: Provides clear financial insights to help make informed business decisions.
Tax Compliance: Facilitates accurate and timely tax filings, avoiding penalties and audits.
Financial Management: Helps track income and expenses, manage cash flow, and plan for the future effectively.
Budgeting: Enables effective budget creation and monitoring by providing detailed financial data.
Performance Analysis: Assists in evaluating business performance and identifying areas for improvement.
Fraud Prevention: Regular tracking and reconciliation can detect and prevent financial fraud and errors.
Investor Confidence: Maintains transparent and accurate records that can boost investor and stakeholder confidence.
Regulatory Compliance: Ensures compliance with financial regulations and standards, reducing legal risks.
Audit Preparation: Simplifies the audit process by maintaining organized and accessible financial records.
Efficient Operations: Streamlines financial processes, saving time and reducing administrative burdens.
Credit Management: Helps manage credit and debt more effectively by providing a clear picture of financial obligations.
It is a Statutory Requirement for all businesses except for Sole Proprietorship.
Helps you review your performance and take steps to improve.
Maintaining books of accounts helps you when you need funding from investors.
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