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BOOK KEEPING SERVICES @ Rs 3500

Book Keeping Services at Rs 3500. Bookkeeping services involve recording financial transactions and preparing financial statements such as income statements and balance sheets. Bookkeepers typically handle tasks like managing daily cash flow and entering financial transactions into accounting software.

A bookkeeping service generally follows a three-pronged approach for managing and maintaining a company’s financial operations:

  1. An accounting software expert sets up a customized data accounting file for the business.
  2. The bookkeeper ensures correct filing of expenses and invoices, tracks receivables and payables, records all financial transactions, handles deposits, manages payroll, prepares financial statements, reconciles bank accounts, and assists with audits.
  3. A controller reviews the ledger for accuracy, safeguards the integrity of the accounting file, and generates monthly financial reports to flag issues needing attention.

Bookkeeping services are applicable across India and cover the following types of work:

  • Recording of annual entries for the financial year
  • Filing all business transactions
  • Generating receipts for company expenses
  • Preparation of Pro Forma statements
  • Providing stock summary up to date

Book Keeping Service Process includes:

  • Managing daily cash flow
  • Recording transactions into accounting software
  • Handling financial transactions
  • Preparing tax-related financial records
  • Processing timesheets and payroll
  • Data entry of financial information

While data entry may seem tedious, modern accounting software makes the task simple and efficient.

Financial Reporting: This refers to the process of documenting and communicating a company’s financial activities and performance over specific periods such as quarters or fiscal years.

Bank Reconciliation: This involves comparing the company’s bank account with its internal financial records to ensure they match and are accurate.

Conclusion: A strong bookkeeping service is vital for maintaining financial clarity, transparency, and compliance. It provides the foundation for informed business decisions, efficient audits, and regulatory adherence.

Bookkeeping focuses on recording and organizing financial data, including tasks such as invoicing, billing, payroll, and reconciling transactions. Accounting, on the other hand, involves the interpretation and presentation of that data, including tax returns, auditing, and performance analysis.

Bookkeeping involves keeping a record of all financial transactions and preparing necessary financial statements such as income statements and balance sheets. It includes tasks like passing journal entries and maintaining the full record of a company's accounts.

Basic bookkeeping services include managing payroll, handling deposits, creating and maintaining financial reports, managing sales taxes and quarterly taxes, and reconciling bank statements. Bookkeepers also assist during audits, including IRS audits.

Full service bookkeeping encompasses traditional bookkeeping duties such as data entry, as well as additional accounting responsibilities. It combines typical bookkeeping functions with full-cycle accounting tasks, providing a more comprehensive financial service.