Accounting Services

Accounting & Bookkeeping Services

Accurate Books. Clear Financial Insights. Better Business Decisions.

Accounting is more than recording income and expenses. Reliable financial records help a business understand its profitability, manage cash flow, monitor expenses, meet tax and statutory requirements and make informed business decisions.

At Investax India, we provide professional accounting and bookkeeping services designed to help businesses maintain accurate financial records and stay organised throughout the year.

Our accounting support can be tailored for startups, proprietorships, partnerships, LLPs, companies, professionals, traders, manufacturers, service providers and growing businesses.

What are Accounting Services?

Accounting services involve recording, classifying, summarising and reporting a business's financial transactions. Proper accounting creates an organised financial record that can be used for tax compliance, financial reporting, business analysis and decision-making.

Depending on the nature and size of the business, accounting requirements may include bookkeeping, ledger maintenance, bank reconciliation, accounts payable and receivable, financial statements, GST accounting, TDS accounting, payroll accounting, MIS reporting and year-end accounts preparation.

Our Accounting & Bookkeeping Services

Bookkeeping Services

We help businesses maintain systematic records of their day-to-day financial transactions, including sales, purchases, expenses, receipts, payments and other accounting entries.

Ledger Maintenance

Proper ledger maintenance helps organise financial transactions under appropriate accounts and provides a clearer picture of income, expenses, assets, liabilities and business balances.

Bank Reconciliation

Bank reconciliation involves comparing accounting records with bank statements to identify differences, missing entries, timing differences and other discrepancies.

Accounts Receivable

We help businesses maintain records of amounts receivable from customers, monitor outstanding invoices and maintain organised customer account records.

Accounts Payable

Proper recording of supplier invoices and payments helps businesses monitor outstanding liabilities, manage payment schedules and maintain accurate creditor records.

GST Accounting

GST-related transactions need to be appropriately recorded and reconciled with applicable GST returns and supporting records. We assist businesses in maintaining accounting records that support their GST compliance process.

TDS Accounting & Compliance Support

Where TDS provisions apply, businesses need to correctly record applicable transactions, deductions and related payments. We assist with TDS accounting and coordination of related compliance requirements.

Payroll Accounting

Payroll accounting involves maintaining salary records and accounting for employee compensation and applicable deductions. Depending on the business, this may also involve coordination with PF, ESI, professional tax and TDS requirements.

Financial Statements

We assist businesses with the preparation and organisation of financial statements such as the Profit & Loss Account, Balance Sheet and other financial reports based on the applicable accounting requirements.

MIS Reporting

Management Information System (MIS) reports can help business owners understand sales, expenses, profitability, receivables, payables, cash flow and other key financial indicators.

Year-End Accounts

We assist in organising accounting records and financial information at the end of the financial year for financial reporting, tax compliance and other applicable requirements.

Why Accurate Accounting Matters

• Better Financial Control: Understand where your business earns and spends money.
• Cash Flow Visibility: Track receivables, payables and available funds more effectively.
• Tax Compliance: Maintain financial records that support applicable tax and GST compliance.
• Business Decisions: Use reliable financial information when making business decisions.
• Expense Monitoring: Identify and analyse major business expenses.
• Financial Planning: Use historical financial information for budgeting and planning.
• Audit & Reporting Support: Organised accounting records can make year-end reporting and applicable audit processes more efficient.

Accounting Process We Follow

1. Understand Your Business: We understand your business model, transaction volume and accounting requirements.
2. Organise Financial Data: Relevant invoices, bills, bank statements and other financial information are organised.
3. Record Transactions: Business transactions are recorded under the appropriate accounting heads.
4. Reconcile Accounts: Bank, customer, supplier and other relevant accounts are reviewed and reconciled.
5. Review Compliance Data: Accounting information is coordinated with applicable GST, TDS and other compliance requirements.
6. Prepare Reports: Financial statements and management reports are prepared according to the business requirement.
7. Periodic Review: Financial information can be reviewed periodically to identify discrepancies and provide useful business insights.

Accounting Services for Different Types of Businesses

Accounting for Startups

Startups need a reliable financial foundation from the beginning. Proper bookkeeping can help founders understand their cash position, expenses, revenue and overall financial performance.

Accounting for Small Businesses

Small businesses often need practical accounting support without maintaining a large in-house finance team. Outsourced accounting can help maintain organised books while allowing business owners to focus on operations and growth.

Accounting for Proprietorships

We assist proprietors with maintaining business accounts, recording transactions, reconciling bank accounts and organising financial information for applicable tax and compliance requirements.

Accounting for Partnership Firms & LLPs

Partnership firms and LLPs require systematic accounting of partners' capital, drawings, business transactions, income and expenses. We help maintain organised financial records for the entity.

Accounting for Companies

Companies generally have more structured accounting and reporting requirements. We assist with bookkeeping, reconciliations, financial statements and coordination of applicable tax and statutory compliance information.

Accounting for Professionals

Professionals such as consultants, doctors, designers, freelancers and other service providers can benefit from organised accounting records that separate business receipts, expenses and other financial transactions.

Accounting for Traders

Trading businesses often handle large volumes of sales and purchase transactions. Proper accounting helps track inventory-related transactions, customer receivables, supplier balances and business profitability.

Accounting for Manufacturers

Manufacturing businesses may require additional accounting attention for raw materials, production-related expenses, inventory, finished goods, purchases, sales and other operational costs.

GST & Accounting

Accounting and GST compliance are closely connected. Sales, purchases, input tax credit, output tax and other GST-related transactions should be appropriately recorded and reconciled.

We help businesses maintain accounting records that support GST return preparation and reconciliation processes.

Proper reconciliation can also help identify differences between accounting records and GST-related data before they create larger compliance issues.

TDS & Accounting

Where TDS provisions apply, accounting records should appropriately reflect the applicable deductions, expenses, liabilities and payments.

We assist businesses with maintaining accounting information required for TDS-related compliance and reconciliation.

Payroll Accounting

Payroll is an important part of business accounting. Salary expenses, employee deductions, employer contributions and applicable payroll-related liabilities need to be recorded appropriately.

Depending on the organisation and applicable laws, payroll accounting may involve coordination with:

• Salary and employee compensation
• Provident Fund (PF)
• Employee State Insurance (ESI)
• Professional Tax, where applicable
• Tax Deducted at Source (TDS)
• Other employee-related statutory requirements

Financial Statements

Financial statements provide an organised view of a business's financial position and performance.

Depending on the business and applicable requirements, financial reporting may include:

• Profit & Loss Account
• Balance Sheet
• Cash Flow information
• Trial Balance
• General Ledger
• Receivables and Payables reports
• Other management reports

Management Information System (MIS) Reports

Accounting data becomes more useful when it is converted into meaningful management information.

We can help businesses organise reports covering areas such as:

• Monthly sales
• Purchase analysis
• Expense analysis
• Gross and net profitability
• Customer outstanding
• Supplier outstanding
• Cash and bank position
• Business-unit performance
• Product or service profitability

The exact MIS format can be customised according to the management's reporting requirements.

Cloud & Digital Accounting Support

Modern businesses increasingly use accounting software and digital systems to manage their financial records. We can assist businesses in organising accounting workflows around their existing accounting systems and digital records.

Digital accounting can improve accessibility, collaboration, transaction tracking and reporting when appropriate processes and controls are maintained.

Common Accounting Mistakes Businesses Should Avoid

• Recording transactions without proper supporting documents.
• Mixing personal and business transactions.
• Failing to reconcile bank accounts regularly.
• Not following up on outstanding receivables.
• Not maintaining proper supplier records.
• Incorrectly classifying expenses.
• Ignoring GST or TDS reconciliation differences.
• Delaying accounting entries until the end of the financial year.
• Not maintaining proper records of fixed assets and liabilities.
• Making business decisions without reliable financial information.

Documents & Records Generally Required

The documents required depend on the nature and size of the business. Common accounting records may include:

• Sales invoices
• Purchase invoices
• Expense bills
• Bank statements
• Payment and receipt records
• Credit and debit notes
• Payroll records
• GST records
• TDS records
• Loan and finance documents
• Fixed asset records
• Inventory records, where applicable
• Other business-related financial documents

Outsourced Accounting Services

Businesses do not always need to maintain a large internal accounting team. Outsourcing accounting functions can provide access to professional accounting support while allowing business owners and management to focus on their core operations.

Our outsourced accounting support can be structured on a monthly, quarterly or other agreed basis depending on the business's requirements and transaction volume.

Who Can Benefit From Our Accounting Services?

• Startups
• Small and medium businesses
• Proprietorships
• Partnership firms
• LLPs
• Private Limited Companies
• Professionals and consultants
• Service providers
• Manufacturers
• Traders and distributors
• E-commerce businesses
• Growing businesses requiring outsourced accounting support

Why Choose Investax India?

• Accurate Record Keeping: Focus on maintaining organised and reliable financial records.
• Compliance-Oriented: Accounting information can be coordinated with applicable GST, TDS and tax requirements.
• Business-Focused: Reports can be structured around the information management actually needs.
• Scalable Support: Accounting support can grow with your business.
• Integrated Services: Accounting can be coordinated with our tax, GST, MCA and business compliance services.
• Professional Support: Get a dedicated approach to your accounting and bookkeeping requirements.

Frequently Asked Questions About Accounting Services

1. What are accounting services?

Accounting services involve recording, classifying, reconciling and reporting a business's financial transactions. Depending on the business, accounting services can include bookkeeping, financial reporting, GST accounting, TDS accounting, payroll, reconciliations and MIS reporting.

2. What is bookkeeping?

Bookkeeping is the systematic recording and organisation of financial transactions such as sales, purchases, expenses, receipts and payments. It forms an important part of the accounting process.

3. What is the difference between bookkeeping and accounting?

Bookkeeping primarily focuses on recording and organising financial transactions. Accounting involves a broader process that can include classification, reconciliation, financial reporting, analysis and interpretation of financial information.

4. Why is accounting important for a small business?

Accurate accounting helps a small business understand its income, expenses, profitability, cash position, receivables and liabilities. It also provides financial information needed for applicable tax and compliance requirements.

5. Can accounting be outsourced?

Yes. Businesses can outsource some or all of their accounting and bookkeeping functions depending on their requirements. Outsourcing can be particularly useful for businesses that do not maintain a full-time internal accounting team.

6. How often should accounting records be updated?

The appropriate frequency depends on the size, transaction volume and nature of the business. Regular and timely recording generally makes it easier to monitor financial performance, reconcile accounts and meet compliance deadlines.

7. What documents are required for bookkeeping?

Common records include sales invoices, purchase invoices, expense bills, bank statements, payment records, receipts, credit notes, debit notes and other documents supporting business transactions.

8. Can you maintain accounts for GST-registered businesses?

Yes. We can assist GST-registered businesses with accounting records and reconciliation processes that support their GST compliance requirements.

9. Can accounting help with GST reconciliation?

Yes. Proper accounting records can be compared with GST-related data to identify differences in sales, purchases, input tax credit and other relevant transactions.

10. Do you provide TDS accounting support?

Yes. Where TDS provisions apply, we can assist with recording TDS-related transactions and coordinating the accounting information required for applicable compliance and reconciliation.

11. Do you provide payroll accounting?

Yes. Payroll accounting can include recording salary expenses, employee deductions and applicable employer contributions, along with coordination of relevant payroll-related compliance information.

12. What financial reports can you prepare?

Depending on the business requirements, reports can include Trial Balance, Profit & Loss Account, Balance Sheet, receivables, payables, cash and bank reports, expense analysis and customised MIS reports.

13. Can you prepare monthly MIS reports?

Yes. Monthly MIS reporting can be customised to provide management with information such as sales, expenses, profitability, receivables, payables and other business performance indicators.

14. Can accounting services help identify business expenses?

Organised accounting records can help management categorise and analyse business expenses and identify major cost areas. This information can then be used for budgeting and business planning.

15. Can you maintain accounts for a company?

Yes. We can provide accounting and bookkeeping support for eligible companies, including transaction recording, reconciliations, financial reporting and coordination of applicable tax and statutory information.

16. Can you maintain accounts for a partnership or LLP?

Yes. Accounting support can be provided for partnership firms and LLPs, including recording business transactions, partner-related accounting entries, reconciliations and financial reporting.

17. Can you maintain accounts for a proprietorship?

Yes. We can assist proprietorship businesses with bookkeeping, bank reconciliation, expense and income recording, financial reports and coordination of applicable tax compliance information.

18. How much do accounting services cost?

Accounting fees depend on factors such as the type of business, transaction volume, number of accounts, frequency of reporting, GST and TDS requirements, payroll and the scope of services required. A suitable fee structure can be determined after understanding the business requirements.

19. Can Investax India provide complete accounting support?

Yes. We can provide accounting and bookkeeping support along with related GST, TDS, income tax and business compliance services, depending on the requirements of the business.

Keep Your Accounts Accurate. Keep Your Business Moving.

Reliable financial records give business owners greater visibility over their performance, cash flow and obligations. With organised accounting, you can spend less time managing financial records and more time focusing on your business.

Talk to Investax India for professional accounting and bookkeeping support tailored to your business.