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Accounting & Book Keeping

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Required Documents

  • PAN and GST registration certificate of the business
  • Bank statements for the relevant period
  • Purchase and sales invoices
  • Expense bills and receipts
  • Payroll details and salary slips (if applicable)
  • Previous year’s financial statements
  • Details of loans, advances, and investments
  • Fixed asset details and depreciation schedules
Advantage
Financial Accuracy
Regular bookkeeping ensures accurate recording of transactions, eliminating discrepancies and maintaining clean financial records.
Regulatory Compliance
Proper accounting ensures timely filing of GST, TDS, and Income Tax returns, avoiding penalties and notices from authorities.
Business Planning
Accurate financial statements provide insights into revenue, expenses, and profitability, enabling better decision-making and budgeting.
Improved Cash Flow
Timely accounting helps in tracking receivables and payables, improving overall liquidity management.
Audit Readiness
Well-organised books make statutory and tax audits faster, smoother, and error-free.

PROCESS FOR ACCOUNTING

01
Collection of Financial Data
All invoices, receipts, and bank statements are collected and verified to ensure the completeness of financial records.
02
Recording of Transactions
Daily financial transactions are recorded systematically using accounting software such as Tally, QuickBooks, or Zoho Books.
03
Reconciliation and Review
Bank, vendor, and customer accounts are reconciled to identify and correct any discrepancies or missing entries.
04
Preparation of Financial Statements
Final accounts such as Balance Sheet, Profit & Loss Account, and Trial Balance are prepared for tax filing and compliance (as per Form 3CD and other statutory requirements).
FAQs
1. What is the difference between accounting and bookkeeping?

Bookkeeping involves recording daily transactions, while accounting includes analysing and interpreting that data for decision-making.

2. Is bookkeeping mandatory for small businesses?

Yes, all businesses must maintain books of accounts as per the Income Tax Act and other applicable laws.

3. Can accounting be done online?

Yes, BizGlobal offers cloud-based accounting services for easy access and real-time updates.

4. How often should bookkeeping be done?

Ideally, bookkeeping should be done daily or at least weekly to ensure accuracy and control.

5. What software do you use for accounting?

We use trusted software like Tally, QuickBooks, and Zoho Books based on client requirements.

6. Do you provide GST and TDS filing services too?

Yes, our accounting services include GST, TDS, and other tax compliance filings.

7. Can startups outsource accounting to BizGlobal?

Absolutely. We provide affordable accounting solutions for startups and small businesses.

8. What are the benefits of outsourcing accounting services?

It saves time, reduces costs, ensures accuracy, and provides professional financial management.

9. Are BizGlobal’s services suitable for freelancers?

Yes, we handle accounting and tax filings for freelancers and consultants as well.

10. How do you ensure data confidentiality?

We follow strict data protection protocols and maintain complete confidentiality of client records.

11. Can you help in preparing financial statements for audit?

Yes, we prepare and review financial statements for statutory and tax audits.

12. Do you provide payroll management services?

Yes, we manage salary processing, TDS, and employee-related compliance.

13. Can you handle multiple branch accounts?

Yes, we consolidate and manage accounting for businesses with multiple locations.

14. What are the penalties for improper accounting?

Non-maintenance of books can attract penalties under the Income Tax Act and Companies Act.

15. Can I get customised accounting reports?

Yes, we provide tailor-made reports such as cash flow statements, cost analysis, and projections.

16. Do I need to submit physical documents?

No, you can share scanned copies or digital records for bookkeeping.

17. How do you ensure accuracy in entries?

We follow a double-check verification system and periodic internal reviews.

18. Can BizGlobal represent us during audits?

Yes, our professionals assist during statutory and tax audits.

19. What is the cost of accounting services?

Charges depend on transaction volume and business type. BizGlobal offers flexible pricing packages.

20. Why choose BizGlobal for accounting services?

We combine professional expertise, accuracy, and confidentiality to provide complete financial management solutions.