Accounting

Accounting involves meticulously recording and managing financial transactions for businesses. Using accounting software like Tally ERP 9/Tally Prime, Zohobooks, ERP Next and Vyapar, bookkeepers ensure accurate and up-to-date financial records, including ledgers, income statements, and balance sheets.

Statutory Returns

Bookkeeping solutions extend to handling the preparation and filing of various statutory returns. These include,

  • Goods & Service Tax (GST) Returns
  • Tax Deducted at Source (TDS) Returns
  • Income Tax Returns
  • Provident Fund contributions, and Professional Tax payments & returns.

By adhering to legal requirements, businesses avoid penalties and maintain compliance.

Payroll

Payroll services encompass managing employee compensation and related tasks. Bookkeepers prepare and distribute pay slips, handle salary disbursements, and ensure proper deductions and withholdings. They also assist in generating offer letters and managing employee declarations for TDS.

Benefits of outsourcing your Bookkeeping

Benefits of outsourcing your Bookkeeping

Small and medium businesses can benefit significantly from outsourcing bookkeeping and its ancillary works, allowing them to focus on core operations while leveraging expert financial management. By delegating bookkeeping tasks to external professionals, businesses can:

Reduce labor costs and minimize administrative burdens

Outsourcing bookkeeping eliminates the need to hire, train, and manage in-house bookkeeping staff, saving on salaries, benefits, and overhead costs. This frees up resources for core business activities.

Ensure accurate, up-to-date financial records and compliance:

External bookkeepers specialize in financial management, ensuring accurate financial statements, compliance with accounting standards, and timely filing of tax returns. This reduces errors, penalties, and reputational risks.

Gain timely insights for informed business decisions

Outsourced bookkeeping provides access to expert financial analysis, enabling businesses to make informed decisions on investments, funding, and growth strategies. Regular financial reports and dashboards facilitate data-driven decision-making.

Scale resources according to business needs

Outsourced bookkeeping adapts to changing business requirements, whether it's growth, downsizing, or seasonal fluctuations. This flexibility ensures businesses only pay for the services they need.

Mitigate risks associated with internal bookkeeping

Outsourcing bookkeeping minimizes the risk of fraud, errors, and data breaches associated with in-house bookkeeping. External bookkeepers implement robust controls, ensuring financial data security and integrity.