Accounting / Bookkeeping With Tax and Services
- Maintained by Every Entity
- Get annual maintenance
- Simple and Secure Online Process
- Dedicated Professional
- Expert CA Advice
- Maintain your accounts through software
Introduction
“Tax and Services” – your trusted destination for expert legal solutions in the realm of Accounting and Bookkeeping. At Tax and Services, we understand the critical role that precise financial management plays in the success of any business. Our dedicated team of legal professionals is committed to providing comprehensive accounting and bookkeeping services tailored to meet the unique needs of our clients. With a wealth of experience and a keen understanding of the ever-evolving regulatory landscape, we ensure that your financial records are not only accurate but also in full compliance with the latest legal standards. Let Tax and Services be your partner in navigating the complexities of accounting, allowing you to focus on what you do best – growing your business.
Benefits of Accounting / Bookkeeping
Financial Accuracy
Proper accounting and bookkeeping ensure accurate recording of financial transactions. This accuracy is crucial for tax compliance, financial reporting, and making informed business decisions.
Tax Compliance
Regular bookkeeping facilitates efficient tax preparation. With organized financial records, it becomes easier to identify eligible deductions, credits, and ensure compliance with tax regulations, minimizing the risk of audits.
Business Decision-Making
Well-maintained financial records provide valuable insights into the financial health of your business. This data aids in strategic decision-making, allowing you to allocate resources effectively and identify areas for growth.
Budgeting and Forecasting
Accounting helps in creating realistic budgets and forecasts based on historical financial data. This allows businesses to set achievable financial goals, manage cash flow, and plan for future expenses, contributing to overall financial stability.
Enhanced Financial Reporting
Comprehensive financial statements generated through diligent bookkeeping offer a clear picture of your business's performance. This transparency not only helps in meeting regulatory requirements but also instills confidence in stakeholders, such as investors and creditors.
Time and Cost Efficiency
Outsourcing accounting and bookkeeping services can save time and resources for businesses. This allows you to focus on core operations while professionals manage your financial records, ensuring accuracy and compliance without the burden of additional administrative tasks.
How Does XBRL Works
In XBRL the data can be made in a readable form with the help of two documents:
- Taxonomy :- It contains the description and classification of business as well as the financial terms
- Instance Document:- It is made up of the actual facts and figures
The XBRL documents are together made up of Taxonomy and Instance documents.
This process involves mapping, tagging of documents which are further reviewed, verified to validate the XBRL instance document. The generated documents are further scrutinized through a tool and an xml file is created to file with ROC.
Documents Required
- PAN Card of the business
- Current Account Bank Statement in the name of business
- Bank statement of Organisation
- Sales invoices, expense bills of the relevant accounting period
- Preliminary expenses incurred by the promoters
- Incorporation documents such as Memorandum of Association, Articles of Association, Limited Liability Partnership Agreement, Partnership Agreement
- Bank Statements of Partners
- Government Registration Certificates
- Invoices of purchase and sales of assets
- Details of cash transactions
Process for Bookkeeping
Complete the Application Form
Document Processing
Analyzing the Books
Verification and approval
Preparation of Balance Sheet
Getting the work done