office@charteredchoice.in
BOOK KEEPING & Accounting Services
-Maintaining compliance with tax laws for the company
-Maintaining accuracy in the books
-Take care of your accounts and statutory obligations
-Create monthly reports
-Clearing invoices from a company
-Maintaining accuracy in the books
-Take care of your accounts and statutory obligations
-Create monthly reports
-Clearing invoices from a company
Our Facts and Figures
BOOK KEEPING & Accounting Services
Accounting & Bookkeeping Services in India
Accounting & Bookkeeping Services in India will help you to effectively manage your daily records, analyze your transactions, make recommendations to maximize your profits and taxes, balance sheet, and tax filing.
Small and medium businesses are unable to effectively manage their business health due to a lack of resources. Bookkeeping involves a systematic approach that ensures accuracy when recording transactions, analyzing the data, and interpreting the results.
An inefficient bookkeeping department could have legal implications, which not only impact the company’s figures but also cause stress and damage the reputation of the business. Your job as a business owner is not to chase after accountants or to deal with compliance errors at times. Instead, you should focus on the core of your business such as how to increase sales. Smart business owners should hire professionals to handle their accounting and bookkeeping.
Best Accounting Services & Professional Bookkeeping Services
Our bookkeeping accounting service aims to reduce costs and manage them. Our team of accounting experts has been specialized to meet the needs and processes of our customers. Bookkeeping, accounting and auditing services are very useful for small and startup businesses.
What is Accounting?
- Prepare tax returns
- Payroll Services
- Cash handling services
Types TDS Return Forms:
For PARTNERSHIP/Pvt. Ltd. COMPANY
FOR Proprietorship Firm Registration
- Accounting services via the Internet
- Preparing financial statements
- Accounts Receivable/Payable
- Balance of Trials
- Prepare balance sheet
What is Book Keeping?
- Recording information
- Plan your debt reduction & repayments
- Cost management of labor
- Billing services
Chartered Choice Offers These Accounting Services In India
- ECommerce Accounting Services
- Bookkeeping Services
- Accounting service
- Accounts Receivable Services
- Account reconciliation Services
- Accounting Services for Startups
- Financial Accounting Advisory Services
- Management Accounting Services
- Cloud-Based Accounting Service
- Accounts Payable Services
- Invoice Processing Services
- Outsourcing Payroll Services
- Individual Accounting Services
- ZOHO Book Accounting Services
- FreshBooks Accounting Services
- Xero Accounting Services
- SAP Accounting Services
- Budgeting and Forecasting Services
- Busy Accounting Service
- Data Entry Service
No
Category Taxpayer
Due Date
1
Business (Not requiring Audit including LLPs and firms)
31/07/2023
2
Association of Persons (AOP)
31/07/2023 (not covered under Audit cases)
3
Body of Individuals (BOI)
31/07/2023 (not covered
under Audit cases)
4
Individual
31/07/2023
5
Businesses (Requiring Audit including Private Limited Companies, OPC, LLPs and firms)
31/10/2023
6
The due date of furnishing Income Tax Return for FY 2021-22 (TP Cases)
31/11/2023
Due Date for furnishing of Audit Report The due date for furnishing an audit report can vary depending on the specific requirements and regulations applicable to the organization.
No
Category Taxpayer
Due Date
1
Audit Report for the Previous Year 2021-22
30/09/2023
2
Audit Report for Transfer Pricing cases
31/09/2023 (with ITR Filing/on orbefore the date of AGM)
3
Belated / Revised Income Tax Return for FY 2021-22
30/11/2023
Accounting Services are Important for Small Businesses
Below, we've highlighted the importance of accounting services to small businesses. Let's get going
Accounting's Contribution to Planning for Growth
The first step of any journey is to have a map. Setting goals is crucial when preparing your business to grow.
Keep a record of all your financial transactions to keep track of the finances in your business. This information is crucial for forecasting business growth in the future and making decisions. You cannot have a clear picture of your financial situation if you are not using reliable reporting.
Accounting is required to get a loan
If you are seeking a loan for your small business or large enterprise, then you must provide updated financial statements.
Imagine you are applying for a Small Business Administration loan through a bank.
Also, you must submit financial information for the past three years and a cash flow forecast of one year.
Without a proper accounting system, it is almost impossible to make any of these deliveries.
Accounting Is Designed To Bring In Investors Or Help You Sell Your Company
It's important to keep all your options open, even if your current plans are to sell or attract investors.
For now, the easiest way to do it is by establishing a good accounting system.
Investors, shareholders, and buyers may want to see accounting records showing that your business is growing. This should be done by a CPA.
Accounting aids in payment Receiving
Accounts receivable is the line item that appears on your balance when you owe money to a customer. AR can be produced manually or automatically by your accounting software, yourself, or your accountant.
The balance sheet will show you how much has been paid for outstanding receivables and how much remains to be paid. Check your balance sheet and see how much money you are bringing in. You can then take steps to make sure you always have your money available, for example by enforcing stricter deadlines on payments or increasing customer follow-up.
Accounting helps you stay on top of loans and debt
If your company has debts coming from multiple sources such as credit card, loans and accounts payable, you'll have to look at many accounts in order to figure out what you owe.
Balance sheets also allow you to see all your debts in one place.
It also displays all of your account balances at once.
It's the best report to use when determining if you have enough cash to pay off your debts, and to make future payments.
Quick Processing
IEC Code application does not require you to submit proof of imports or exports. IEC Application can be done online.
Documents required for Import Export Code
Fill out a simple Checklist
Fill out a simple Checklist
A Compliance Manager will contact you from the team Ebizfiling to collect your documents and provide a simple check list for Import Export Code Registration. This checklist must be completed and submitted along with the necessary documents.
Approval
We will proceed to the IEC registration process after verifying all documents. Online, we will fill out Aayaat Niryaat 2A (ANF 2A). Throughout the entire process, you will be kept informed by your Compliance Manager.
IEC Allotment
The Directorate General of Foreign Trade allows you to register an Import Export Code once the documents supporting your application and IEC registration are approved by the Government officer concerned.
5 easy steps(Need Changes)
FAQs on Income Tax Returns
What is bookkeeping ?
The bookkeeping method is a formal way of recording the financial transactions for an entire financial year. The bookkeeping process includes all transactions such as sales, purchases, payments & receipts and expenses for the entire financial year. Professional bookkeeping service providers are usually responsible for doing the bookkeeping.
What is the difference between online bookkeeping and accounting?
Yes. Accounting and bookkeeping are two sides of the same coin, but they cannot exist without each other. Accounting is the process of interpreting & summarizing the financial transactions.
What statute makes bookkeeping mandatory?
Different laws provide a legal basis for the rules and regulations of bookkeeping:
Companies Act 2013
In section 128 of the Companies Act, 2013, the accounts of the 8 years preceding the current fiscal year are specifically mentioned.
Companies that are only formed as “Nonprofit” companies under Section 25 are required to maintain books of account for at least 4 years.
Other books that need to be kept in accordance with the Companies Act, 2013, include: registers of directors/members and employees’ stock options.
Income Tax Act of 1961
The assessee is required to keep books of account if the turnover or sale of business/profession in the previous 3 years exceeds INR 25 00,000.
Section 6F of the Income Tax Act, 1961 specifies which books must be kept. Cashbook, general ledger and copy of bills & Receipts.
The books must be kept for six years after the year in question.
What types of bookkeeping are there?
There are four types of accounting systems.
Single Entry System:Traditional bookkeeping system for small businesses with a minimum number of transactions. Transactions are recorded under this system. In this system, cash sales/business expenses are recorded only when they have been paid or incurred. The transactions do not match the accounts in the single-entry system.
Double entry system: This is for businesses that have large and complex transactions on a regular basis. This system posts one credit transaction to one account, and the debit effect of that transaction is reflected on a second account. It creates an effect of balancing. It overcomes all the disadvantages of a single entry system.
Bookkeeping Software: As its name implies, it is based entirely on Information & Technology. There are many bookkeeping software providers on the market that can help you prepare your ledgers and accounts. The software will create the documents for you based on the information that you enter.
Virtual Bookkeeping: It is the easiest and most convenient way to manage your accounting bookkeeping. This will allow you to store your company’s accounts without worrying about how many years you have to keep to meet the requirements of the Companies Act.
Is it safe for me to outsource my accounting and online bookkeeping services?
It is safe to use an online bookkeeping service.
What is the function of online Bookkeeping Services?
Online bookkeeping is very simple. You just need to choose a bookkeeping system that suits your needs to create and maintain your accounts.
The following are the functions of bookkeeping:
- Compiling data
- Preparing invoices/receipts
- Verifying receipts
- Cash/Bank Statement Matching
- Statement of Income
- Balance Sheet
- Other financial statements
Why should I not outsource my accounts department?
There are many reasons why outsourcing your online bookkeeping is better than maintaining your own accounting department.
- Professional Service
- Cost savings
- Effective use of resources
- High Quality & Expertise
- Easy & convenient
- Fraud risk reduction
- Assign roles & responsibility.
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