Book keeping

 > Book keeping

    ADVANCED

    GROWING

    ESTABLISHED

    Why shoud outsourcing?

    Save Time

    Accounting & Bookkeeping is time-consuming jobs. Outsourcing to professionals helps reduce efforts & focus on other vital areas of business.

    Increase Profits

    With proper & skilled accountants, businesses can focus on cash burn & unplanned expenses to boost the company's profits.

    Support Excellent

    A dedicated outsourced accountant helps you with proper support on further decisions & investment strategies.

    Reduce Expenses

    Outsourcing Accounting & Bookkeeping than in-house accountants' reduces accounting expenses. It is cheaper, efficient & productive.

    Procedure for book keepng services

    Mail Documents

    Send your business transaction details to us.

    Books Analysis

    Our financial team will analyze your data, effectively and fruitfully.

    Approval

    The final tally entry shall be sent by our experts to you for verification and approval.

    Statements

    Once approved by you , our experts shall then prepare the balance sheet and PL statement of the same.

    Work Done

    When completed we will send you completed accounts and bookkeeping records to you.

    Frequently asked questions

    We all know that Bookkeeping is tedious work, and as a business owner, it takes you away from more important things in your business.

    Let us allow us to Bookkeeping your Financial data in a significant manner. to turn your financial data into actionable insights. So, you can focus on growing your business. Increase your revenue by focusing your attention on growth instead of bookkeeping. We strongly believe good accounting & Bookkeeping leads to good business management & growth.

    Our bookkeeping accounting services aim at cost reduction and cost management. Our specialized team of accounting professionals has been designated to cater to customer’s requirements and processes. Our professional bookkeeping services of bookkeeping accounting and auditing are very beneficial for startup and small businesses.

    Recording information – Debt planning & reduction – Labor cost management – Invoice processing services – Accounts Payables – Accounts receivables – Reconcile Bank, credit card & LOC statements – Maintain the chart of accounts – Monthly Journal Entries, Payroll entries – General ledgers by preparing a trial balance, reconciling entries – Finalize Financial Year-end books finalization – Consistent, proven bookkeeping practices and internal controls – Monthly and quarterly financials- Periodic reviews to ensure accuracy and completeness – Preparation of P&L and Balance sheet – Provide financial statements – Provide guidance on how to be more efficient financially – Tax Preparation, Planning & Advance Tax, etc.

     

    You can send data through Email or Upload documents our website

     

    A remote book keeper is look after your business online and maintaining data through online and provide all reports though email.

     

    • Bookkeeping lets you prepare financial statements.
    • Bookkeeping lets you focus your business strategy and plan for the future.
    • Bookkeeping keeps you prepared for tax season.
    • Bookkeeping maximizes your deductions come tax time and much more.

     

    1. Cash Basis of Accounting: All incomes are considered to be earned when they are actually received in cash. Similarly, expenses are deemed to be incurred only when they are actually paid in cash. In other words, importance is attached to cash receipts and payments but non-cash items, such as outstanding, pre-paid expenses, accrued incomes or income received in advance are ignored. This method is adopted in those concerns where only cash transactions take place. Generally, this system is followed by individuals like Doctors, Lawyers, Auditors, Engineers, Brokers, and Small Traders etc.
    2. Accrual Basis or Mercantile Basis of Accounting: This method is commonly adopted by business concerns. Incomes are recorded or credited to the period in which they are earned irrespective of the fact whether the same has actually been received or not. Similarly, expenses are charged to the period in which they relate irrespective of the fact that they have actually been paid or not. In other words, all items of incomes and expenditures, both cash items as well as non – cash items such as pre- paid expenses, accrued incomes or income received in advance etc, are taken into account.

    Types of Accounting:

    There are two systems of accounting namely Single Entry System and Double Entry System.

    Single Entry System: The single entry system is not a really a system because in some cases record may be one – sided; and in some other cases no record is maintained at all. It is more appropriate to call it an incomplete system of recording transactions. Double effect of every transaction is ignored and only the accounts relating to suppliers and customers an cash account are found. Thus, the system is incomplete, inaccurate and unscientific system of recording business transactions.

    Double Entry System: The modern system of accounting is based on what is known as double entry principle. It refers to that system of book keeping where each transaction is recorded in both of its aspects. viz.i. receiving of the benefit of the transaction and ii. Giving away of the benefit of the transaction. For a complete record of transactions, it should be presented in both the accounts. Business transactions affect two aspects of the accounts in the opposite direction. If are account receives a benefit, there must be another account to give the benefit. It is like the two sides of a coin. Thus, every transaction involves two accounts, one which gives the benefit of the transactions and another which receives the same.

     

    Concepts and Conventions are principles of accountancy.

    1.Entity concept 2. 2.Dual aspect concept 3. Going concern concept 4. Money measurement concept 5. Cost concept 6. Accounting period 7. Periodic Matching of Cost and Revenue Concept 8. Realisation concept: 

    Conventions:

    Convention of Conservatism 2. Convention of Consistency3. Convention of Materiality 4. Convention of Disclosure:

    Financial transactions are grouped under various head of accounts.  Depending on the name and behavior the accounts are classified.  The head of accounts is primarily classified into 3 groups.  A. Personal Accounts  B. Real Accounts C. Nominal Accounts

    Please contact our experts for more details

     

    There are two primary types of stock valuation – absolute and relative. The Absolute method uses a business’s fundamentals and financials to discover the stock’s actual value, and Relative methodology compares its position against peers and industry standards.

    The P/E for a stock is computed by dividing the price of a stock (the “P”) by the company’s annual earnings per share (the “E”).

    Accordion Content

    There are two types of transactions in accounting, i.e., revenue and capital.

     

    Assets = Liabilities + Owners Equity.

    A compound journal entry is just like other accounting entries where there is more than one debit, more than one credit, or more than one of both debits and credits.