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What is Book-Keeping?
- Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business.
- Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation.
- There are several standard methods of bookkeeping, such as the single-entry bookkeeping system and the double-entry bookkeeping system.
- Any process that involves the recording of financial transactions is a bookkeeping process.
The bookkeeper brings the books to the trial balance stage: an accountant may prepare the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.
Preparation of MIS Reports
- MIS stands for management information system.
- Business managers at all levels of an organization, from assistant managers to executives, rely on reports generated from these systems to help them evaluate their business’ daily activities or problems that arise, make decisions, and track progress.
- MIS system reporting is used by businesses of all sizes and in every industry.
Typical MIS reports include: Cash & Funds Flow, Accounts Receivables & Payables analysis report, occupancy & capacity analysis, Projection vs actual reconciliations & custom-reports based on Clients needs.
Financial statements (or financial report) is a formal record of the financial activities and position of a business, person, or other entity.
- Relevant financial information is presented in a structured manner and in a form easy to understand. They typically include basic financial statements, accompanied by a management discussion and analysis
- A balance sheet or statement of financial position, reports on a company’s assets, liabilities, and owners equity at a given point in time.
- An income statement or statement of comprehensive income, statement of revenue & expense, P&L or profit and loss report, reports on a company’s income, expenses, and profits over a period of time. A profit and loss statement provides information on the operation of the enterprise. These include sales and the various expenses incurred during the stated period.
- A Statement of changes in equity or equity statement or statement of retained earnings, reports on the changes in equity of the company during the stated period.
- A cash flow statement reports on a company’s cash flow activities, particularly its operating, investing and financing activities.
For large corporations, these statements may be complex and may include an extensive set of footnotes to the financial statements and management discussion and analysis. The notes typically describe each item on the balance sheet, income statement and cash flow statement in further detail. Notes to financial statements are considered an integral part of the financial statements.
Our Services Includes:
- A.Electronic maintenance of Books of Accounts in tally ERP system.
- Preparation of monthly Profit & Loss Account, Balance sheet & Bank reconciliation statements
- Preparation of MIS reports as per the clients needs which may include: Cash & Funds Flow, Accounts Receivables & Payables analysis report, occupancy & capacity analysis, Projection vs actual reconciliations & any other reports
- Closing of Books of Accounts at year end in the reporting formats as prescribed
- Drafting & preparation of Financial statements at the year end along with notes & annexures as per the Indian GAAPs.
- Will mail you the quote based on your inputs
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Accounts outsourcing – why us ?
|PROBLEMS FACED||OUR SOLUTION|
|Lack of competence in the semi-non qualified Accountants||Being qualified in the area of accounting, we provide expert level services with respect to book-keeping & advisory areas of financial transaction recording & reporting.|
|Lack of proper MIS system||Being in the field of Accounting for more than 10 years, we understand the need and mastered the implementation of timely & relevant MIS system.|
|High & unnecessary costs involved in a in-house Accountant.||Being able to understand the practical problems of Accounting industry, we were able to strike the right chord with respect to pricing of our services in a competitive and customer friendly basis. We always work along the budgets of the clients.|