Accounting and Bookkeeping services

Managing finances is not your thing? Keep it simple with an expert-led online accounting and bookkeeping services for Indian businesses. Make sure you are on the right track, accurate and growing – Sign Up for Garudamudra today.

1. Real-Time Bookkeeping & Ledger Updation
2. End-to-End Support for GST, TDS & ITR Filing
3. Personalised MIS Reports & Financial Analysis
4. Prompt Bank Reconciliation & Error Check ups # PayFast # SA PayFast The post When Should You Reconcile Your Bank Transactions?
5. Strategic Budgeting & Cash Flow Management

What is Bookkeeping and Accounting?

Bookkeeping is the recording of all your business’ day-to-day financial transactions. This is done by monitoring all sources of income, including sales and client payments, and all outgo(ings), such as purchases and operating costs. It’s a stepping stone to managing your business finances and helps to keep your records straight.

Accounting takes bookkeeping further. It requires us to study and summarize these records and explain them to produce financial reports. These reports tell you how your business is doing, if you’re making money and where you might be able to make changes. Accounting is also useful in decision-making, planning and tax submission.

Bookkeeper vs Accountant: What Is the Difference?

Though the words are frequently used interchangeably, following a bookkeeper and an accountant is the difference:

A bookkeeper simply revolves around the daily task of recording everything money moves and where everything stands. The main task of accountants is to accurately and consistently record all monetary exchanges.

The bookkeeper’s records are used by an accountant to determine the business’s financial health, prepare tax returns and financial statements, and counsel the business about investments, tax planning, and meeting financial regulations.

Benefits of Bookkeeping and accounting Services

Hiring professional bookkeeping and accounting services will help you stay more organized, save time and take better financial decisions. Here are the key benefits:

1. Proper Financials: All your financial transactions are recorded precisely, providing an instant picture of your business’s financial health.
2. Better Decisions: With current financial information, you can make better business decisions more quickly.
3. Tax Compliance: Ensuring that you file accurate tax returns on time, so you don’t have to pay fines.
4. Save Time and Money: Avoid expensive mistakes and save time by outsourcing your financial tasks.
5. Better Money Management: Make it easy to track income & expenses and gain better control of cash flow.
6. Finance Planning and Analysis: Advise on budgeting, forecasting, and tax planning.
7. Compliance: Maintains your records in order to comply with the law and to make auditing easier.
8. Increased Business Credibility: Earn the confidence of investors, lenders, and partners with organized and professional records.

Our Extensive Accounting and Bookkeeping Offerings

Garudamudra provides full-service accounting and bookkeeping specifically designed to accelerate the financial and tax processes while helping to make important management decisions.

Daily Bookkeeping Services

We enter all of our sales, purchases, payments, and receipts – day by day – to keep your books clean and current.

Recording Financial Transactions

From sales slips to expense receipts, we piously record every money transaction, placing the entries into the appropriate categories to produce the transparent financial reports we crave.

Management of Accounts Payable (AP) and Accounts Receivable (AR)

To keep your vendors and suppliers on the right track we process and maintain all of your Accounts Payable (AP). Simultaneously we manage AR by tracking payments and overseeing collections.

Bank and Credit Card Reconciliations

We cross-reference your bank and credit card statements with your accounting to catch mistakes and avoid mismatches.

General Ledger (GL) Maintenance

The General Ledger is the single source of truth for assets, liabilities, equity, revenue, and expense transactions. We are constantly refreshing it to reflect the correct value of your books.

Financial Statement Preparation

We create some of the most important financial reports you will use including the Profit and Loss (P&L) Statement, Balance Sheet, and Cash Flow Statement to help you monitor your business performance.

Budgeting and Cash Flow Forecasting

We assist you with smart planning, by establishing achievable budgets and predicting your future cash flow in advance, to prevent liquidity shortages and make better decisions.

Customized Financial Reporting (MIS)

We can develop for you MIS reports. These are the reports that really enable you to see what you’re making and spending, and how healthy your numbers are.

GST Registration and Return File

We assist your business in getting GST registration online, and take care of the monthly or quarterly GST return filing accurately, to ensure you are always in compliance and avoid incurring penalties.

Filing of TDS (Tax Deducted at Source) and Compliance

We take care of the entire TDS life cycle, right from deduction to its deposit, Return Filing (Form 26Q) and generation of Form 16/16A through TRACES and TIN-NSDL Portal, to keep you in highest level of legal compliance.

ITR Filing for Businesses

1. Our squad takes care of all your ITR filings, being a Soy’ Sole Proprietor, Partnership firm or a Company. We guarantee ontime and accurate filing to the Income Tax Department.
2. ROC and Other Compliances under Companies Law
3. We take care of all ROC (Registrar of Companies) related matters including annual returns, Director KYC (Know Your Customer) compliance and other MCA (Ministry of Corporate Affairs) compliances through mca. gov.in) for all business respondents to stay current in the eyes of the law.

Professional Bookkeeping Services in India – Who Needs It?

Professional bookkeeping services in India are preferred by businesses of all forms in India. From fledgling startups to established businesses, reliable and current financial records are a necessity. It’s possible that just the volume of transactions soon could be overwhelming, and having a professional would be an intelligent decision.

1. For Startups And Brand New Businesses: Many new businesses simply do not have enough money or enough knowledge for their accounting much less a team of accountants. Our services provide you with a solid financial foundation from day one so that you may focus on growing.
2. For Small and Medium Enterprises (SMEs): When it comes to small and medium businesses, outsourcing accounting and bookkeeping have so much for SMEs. It conserves time and money, which can be used for vital business functions.
3. For E-commerce and Online Sellers: Because they have high volumes of sales and unique tax situations, e-commerce businesses need online bookkeeping services to maintain accurate records and adhere to rules.
4. For Professionals (Doctors, Lawyers, Consultants): Even single-shingle types require sound money management. we provide a personalized assistance such as checking the Form 26AS, support for presumptive tax (section 44ADA) and GSt help if required. We can customize our services just for them since their income and out-go are being kept.
5. For ANY Type of Business: No matter what you type of work you do, it’s in your best interest to keep your financial records straight. Our scalable offerings can be tailored to contribute to the specific requirements of every sector.

Online Accounting and Bookkeeping Process

Here’s How Our Online Accounting and Bookkeeping Services Works

We make online bookkeeping and accounting as easy and as fast as possible for our clients.

Step 1: Free Consultation and Needs Assessment Complete the form on our website to begin with Step 1, a free chat. We will learn about your business, needs, and provide you with a custom bookkeeping cost estimate to design the plan that is right for you.

Step 2: Organized Document and Data Collection: How we get your financial papers and data from you as securely and easily as possible, keeping your information private and your information flow as smooth as possible.

Step 3: Update and Process Your Books: We process your data very carefully and update your records accurately by our professional bookkeepers and accounting professionals.

Step 4: Reporting and Finalization: We provide your with regular reports for review and discuss critical issues with you to finalize your books. This will maintain your up-to-date financial profile… Organize Together makes sure your most important decisions are informed decisions.