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Accounting & Bookkeeping Services

Bookkeeping services are mandatory for all businesses to ensure accuracy of finance and ensure the integrity of transaction, such information is mandatory to mange by Management, Regulators, and Investors. Also it helps in paying taxes and other legal procedures. 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. Bookkeeping depends on maintenance of general ledger .it maintain the records of the amounts of sale and purchase. A ledger can be created with specialized software, a computer spreadsheet, or simply a lined sheet of paper.

Complexity of business depends on the size of business. And it maintain on daily basis, weekly and monthly basis. It maintains all the transaction of sale and expenses. And need to be supporting docs.
Accountants may handle more advanced tasks like tax preparation, budget analysis, and investment development. Both Accountants and bookkeepers frequently use advanced financial software to record and track their information.

Bookkeeping is responsible for the recording of financial transactions. Accounting is responsible for interpreting, classifying, analyzing, reporting and summarizing financial data. 

The Similarities
  • Those who did not know about accounts they treated Both book keepers and account same .
  • You have basic knowledge for that of accounts.
  • Book keeper maintains transaction by recording.
  • They may be used software for recording transaction. 
The function of bookkeeping

Bookkeeping is the process of recording daily transactions in a consistent way, and is a key of analyze company growth.

Bookkeeping is comprised of:
Maintaining all financial transaction.
Posting debits and credits
Produce invoice.
Maintain general accounts, ledgers and balance sheet.
Completing payroll
Owner and produces maintain accounts
Preparing all the expenses that has to be done but its not mandatory to maintain in book keeping.
Preparing company financial statements
Analyses of cost of operations.
Completing income tax returns
Aiding the business owner in understanding the impact of financial decisions

Accounting provides reports that show key financial indicators like understanding of actual profitability, and an awareness of cash flow in the business. Accounting turns the information that reveals the picture of the business and growth of the company. Business owners will often look to accountants for help with strategic tax planning, financial forecasting, and tax filing.

Advantages of Book-keeping
  1. Cost-Effective
  2. Time Effective
  3. Higher Profits
  4. Reduced Tax Liabilities
  5. Peace of Mind
Procedure of Book-keeping Service

  • Send your accounts books
    For book keeping services, the company has to submit their accounts books for further process.

  • Analysis of your books
   As we get your accounts books. Our experts will analyze the book of accounts. And it will take time of 02-07 working days.

  • Verification and Approval by you
The next step is verification as the accounts verify by our expert, they send to you and wait for your approval. It will take time of 2-3 working days.

  • Prepare balance sheet
Once the accounts book approved by you. Our expert prepares the balance sheet and P&L statement. And it will take time of 4-5 working days. 

  • Competition of accounts
Once the Balance sheet and P&L are prepared, the books of accounts are finalized and completed and sent to you. Congratulations for book keeping.

FAQ :-
Q. Importance of Book-keeping & role of book-keeper??
Ans. Book-keeping plays an important role in our business because it shows all financial statement that we expect. Hire book-keeper as soon as possible because it reduced our efforts & mistakes. Book-keeper maintains your accounts as little. And maintain in 3 hours.

Q. Who has the authority to maintain and do payments??
Ans. For payments and all other things like advance to the merchants and sign cheque the owner has the authority and control over that.

Q. Why FilingBazaar??
Ans. FilingBazaar is providing good service at low cost. Our network is in all over India for book-keeping service.

Q. Is book-keeping maintenance mandatory??
Ans. Yes book-keeping is mandatory for any business and for any business it should be separate that is every business has its separate book for maintenance of accounts. 

Q. Who are liable to maintain book-keeping??
Ans. Companies and LLPs are required to maintain books of accounts as per Companies Act, 2013 and Limited Liability Partnership Act, 2008. Further, Income Tax Act, 1961 also obligates the maintenance of the books of accounts, irrespective of the form of business, and has separate provisions related to it