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What is the registration?

Accounting is the art of identifying, recording, classifying and summarizing, in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character and interpreting the results thereof-AICPA
The purpose of Accounting is to accumulate financial data and provide report on financial performance like Balancesheet, Profit and loss statement and cashflow statement.
Income Tax Law also require to maintain books of accounts either through computerised system or Manually.

Whats Your Advantage

Recording

Accounting helps in maintaining businees records in systematic manner.A reliable financial record is the prime factor of accounting system.

Planning and Decision Making

Resources are scarce, organization need to plan on how they allocate for business resources.Budgeting is the process through which resource are allocated.Business decision are taken on the basis of figures and reports generated by accounting system.Resource allocation and decision making both the crucial part of business can be done effectively with sound accounting process.

Preparation of financial statement and performance analysis

The outcome of accounting process is financial statement, Which shows the profitability, Liquidity and operating performance of business.

Legal Aspect

Accounting is a legal requirement for most businesses. Law requires businesses to maintain an accurate financial record of their transactions and to report their financial results to shareholders, tax authorities and regulators.Accounting information can be produced in legal matters in court of law.

    All the Documents related to recognizable financial transactions is required

Whats the Process

  • 1
    Transaction Identification

    Identify the Transaction and Prepare Transaction source document
    Classification of Accounts-Analyse and classify the transaction and identification of heads to be debited and credited.

  • 2
    Recording

    Record the Transaction in double entry
    Posting-Post Journal entry to ledger Account

  • 3

  • 4

WHAT WE DELIVER

    • Financial Statements

Let's Start Now

LITE

2499

  • Accounting Transactions: Upto 250 or Turnover: upto 25 Lakh

Basic

3999

  • Accounting Transactions: upto 500 or Turnover upto 50 Lakh

Pro

4999

  • Accounting Transactions: upto 1000 or Turnover upto 1 Crore

Answer to the Question Why us?

  • In-House
    Experienced
    Professionals
  • Compliance
    Tracking and
    Reminders
  • Regular
    Customer
    Education
  • Stellar
    Support and
    Response

Frequently Asked Questions (FAQ)

It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It provides information on operational efficiency of concern. The end product of accounting is financial statements which provides basis for decision making.

As per Income Tax Act 1961,Sec 44 AA If the Income from business or profession exceed 150,000 or the total sales exceed 25,00,000 in any of three previous Year required to maintain proper book of Accounts.

Accounting is the backbone of businesses, given below are the few benefits of accounting

  • Complete and systematic record
  • Valuation of Business
  • Evidence in court of law
  • Basis for preparation of financial statements
  • In Compliance with various Law
  • Helps in Inter and Intra firm comparison
  • Provides input for Management in implementing Management information system(MIS)
  • Enable decision making
  • Provides information to interested parties like shareholders, creditors, investor and customer

Double entry bookkeeping is a system of accounting where an Account is debited and another corresponding account is credited. It has two equal side debit and credit. It keeps the system on auto reconciliation.

Financial Statement like Balance sheet, profit and loss, cash flow statements etc. are the final output of accounting process.

Comparison between manual accounting and computer based accounting

  • In Manual accounting Ledgers, registers and accounting books are maintained physically while in Computer based accounting they are maintained electronically by software.
  • All the calculation are performed manually in Manual accounting while in CBA only input data is required all calculation are done automatically.
  • Backup is not possible in manual accounting while transactions and records can be saved electronically and can be restored in future.
  • Financials are prepared at the year-end but in CBA you can prepare them at any time.

Financial Statement like Balance sheet, profit and loss, cash flow statements etc. are the final output of accounting process.

  1. It helps in setting up your business.it gives you an idea about forecasting your business targets.
  2. It helps in assessing the right Income and accordingly helps you to pay right tax.
  3. Regulations needs to compulsory maintain books of Accounts
  4. It creates business history of a concern
  5. Efficient Decision making cannot be possible without Accounting
  6. li>Accounting provides basis of valuation of entity

Apart from Tally and busy which are most popular accounting software in India there are also some other cloud based software platform for example Quick book, Zoho, Sage Accounting which gained popularity in India for their rich reporting features.

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