Accounting/Bookkeeping Services
Contact For Services
15 Minutes Free Consult for New Startup or Entrepreneur (Call for your Business Consulatant Related Quiry)
Monthly GSTR-3B and GSTR-1 GST Returns
GST Returns like a (GSTR-1, GSTR-3B, TDS-TCS Recived Return & Composition Return CMP-08) (Working Days 1-2 Days)
15 Minutes Free Consult for New Startup or Entrepreneur (Call for your Business Consulatant Related Quiry)
Regular/Offer Price
Original price was: ₹1,000.00.₹749.00Current price is: ₹749.00.
GST Amendment
GST Registration Amendment Services Like a non-core/ core Amendment (e.g., main/adittional address changes, bank Account, authorization Changes, Contact Details and many more). (Working our side Days 2-3 Days)
15 Minutes Free Consult for New Startup or Entrepreneur (Call for your Business Consulatant Related Quiry)
Regular/Offer Price
Original price was: ₹1,499.00.₹999.00Current price is: ₹999.00.
GST Registration
GST Registration For individual/Business Turnover Eligibility 40 lakhs (for goods, 20 lakhs in some states). 20 lakhs (for services, ₹10 lakhs in special category states) (Working Days 2-5 Days)
15 Minutes Free Consult for New Startup or Entrepreneur (Call for your Business Consulatant Related Quiry)
Regular/Offer Price
Original price was: ₹2,199.00.₹1,499.00Current price is: ₹1,499.00.
Income Tax Return
ITR-1 to ITR-5 (salaried/individuals and small businesses/Audited) (Working Days 1-2 Days)
15 Minutes Free Consult for New Startup or Entrepreneur (Call for your Business Consulatant Related Quiry)
Regular/Offer Price
Price range: ₹999.00 through ₹2,100.00
Documents Required for Accounting Services/Bookkeeping?
- Monthly Sales & Purchase Invoice Provied
- Proper Monthly Bank Statment Provied
- Next Month 8th Day Important Documents Provided
Important Content
What Is Accounting?
Accounting is the process of recording, classifying, summarizing, and interpreting the financial transactions of a business. It converts raw financial data into useful reports like Profit & Loss Account, Balance Sheet, and Cash Flow Statement.
In simple words, accounting tells you how much you earned, how much you spent, what you own, and what you owe. It gives a clear picture of the financial health of your business at any point of time.
What Is Bookkeeping?
Bookkeeping is the basic and continuous process of recording all day‑to‑day financial transactions of a business in a systematic way. These transactions include sales, purchases, expenses, receipts, payments, bank entries, and other financial activities.
It is the foundation of accounting. If bookkeeping is accurate and up‑to‑date, then the accounting reports prepared from these records will also be correct and reliable.
Difference Between Accounting And Bookkeeping
Bookkeeping comes first; accounting comes later and is fully dependent on the data generated through bookkeeping.
A business that maintains proper bookkeeping but no accounting will have records but no clear analysis, while a business that wants good accounting must first ensure strong bookkeeping.
Point
Bookkeeping
Main Focus
Recording Daily Financial
Nature of Work
More Routine and Clerical
Output
Properly Maintained Books and Ledgers
Objective
Maintain Complete and Accurate Records
Who Does it
Bookkeeper or Junior Accountant
Why Does A Business Need Accounting?
Every business, whether small shop or growing company, needs accounting for many practical reasons. Accounting is not only for tax or legal formalities; it is a complete financial management system.
Key reasons why accounting is needed:
To know profit or loss: Accounting helps you know whether your business is making profit or suffering loss during a specific period.
To know financial position: Proper accounts show assets, liabilities, and owner’s capital, so you know where the business stands financially.
Accounting also helps in preparing budgets, controlling costs, planning future expansion, and convincing investors, banks, or partners about the strength of the business.
Why Is Bookkeeping So Important?
Bookkeeping is important because it is the base on which all further accounting, compliance, and decision‑making stands. If the base is weak, the entire structure becomes weak.
Major reasons why bookkeeping is important:
Legal and tax compliance: Governments and tax authorities require proper records to verify income, expenses, GST, and other taxes. Correct bookkeeping makes return filing easy and safe.
Real‑time business tracking: With updated books, you can check sales, expenses, and cash balance any time and take quick business decisions.
Bookkeeping also prevents confusion, reduces chances of fraud, and ensures that no bill, invoice, or payment is missed or forgotten.
Benefits Of Proper Accounting And Bookkeeping
When accounting and bookkeeping are done correctly, they give many benefits that directly support business growth and stability.
1. Clear Financial Picture
With proper accounting records, you always know:
How much money is coming in and going out.
Which products or services are profitable and which are loss‑making.
This clarity helps you to stop loss‑making activities, focus on profitable segments, and improve overall margins.
2. Better Decision‑Making
Accurate numbers mean better business decisions. You can:
Decide correct pricing and discount policies.
Decide when to hire staff, buy machinery, or expand to a new location.
Accounting reports and analysis guide you like a financial roadmap for short‑term and long‑term planning.
3. Easy Tax Filing And Compliance
With systematic bookkeeping, all income and expenses are recorded with proper narration and supporting documents.
This makes it simple to:
Prepare GST returns, TDS returns, and income‑tax returns.
Respond confidently to any notice, query, or assessment from tax departments.
Proper books also help you claim all eligible expenses and avoid interest and penalties due to mistakes or missing records.
4. Better Cash Flow Management
Cash is the lifeblood of any business. Bookkeeping helps you:
Track which customers have not yet paid (debtors).
Track which suppliers you need to pay and when (creditors).
By monitoring receipts and payments, you can maintain a healthy cash flow, avoid cheque bounces, and plan for working capital needs.
5. Access To Loans And Investment
Banks, NBFCs, and investors always ask for financial statements like Profit & Loss Account, Balance Sheet, and Cash Flow Statement.
If your bookkeeping and accounting are accurate and transparent:
Loan applications get processed faster.
Investors feel more confident to fund your business.
Strong financial statements build your business credibility in the market.
Key Tasks In Bookkeeping
Bookkeeping covers many routine but essential tasks that must be done regularly and accurately.
Important tasks include:
- Recording all sales and purchase invoices.
- Recording all receipts and payments, including cash, bank, UPI, and card transactions.
- Posting entries to ledgers, such as customer accounts, supplier accounts, expense accounts, and GST accounts.
- Reconciling bank statements with books to ensure no transaction is missed or wrongly entered.
- Maintaining records for payroll, TDS, GST, and other statutory dues where applicable.
Key Tasks In Accounting Services
Accounting services use the data prepared through bookkeeping and convert it into meaningful information.
Common tasks in accounting services:
- Preparation of Profit & Loss Account, Balance Sheet, and other financial statements.
- Analysis of revenue, cost, and profit to identify trends and areas of improvement.
- Budgeting and forecasting for future months or years based on past performance.
- Advising on tax planning, savings, and compliance with all applicable laws.
Importance Of Professional Accounting Services
Many small businesses try to manage accounts on their own, but professional accounting services give a strong advantage.
Why professional service matters:
Accuracy and expertise: Trained accountants and bookkeepers understand standards, laws, and best practices, so chances of costly errors are very low.
Time saving: Business owners can focus on sales, operations, and customer service while professionals handle the financial side.
Professional accounting services also keep you updated on changes in tax laws, compliance requirements, and new best practices in financial management.
Our Complete Accounting and Bookkeeping Services
My Legal Law offers end-to-end Accounting and Bookkeeping solutions for businesses, professionals, and startups. From registration to litigation support, handle all Accounts work with the professional expertise of the My Legal Law Team.
It is very important to get bookkeeping and accounting done by a specialist firm or professional, because by doing bookkeeping and accounting you will be able to reconcile the accounts of all your suppliers and also what to give and what to take, all this information is necessary for startups, small businesses and professionals.
Key services to list and briefly describe:
Daily transactions: Daily transactions record daily sales, expenses, payments, and receipts, ensuring accurate accounts, smooth cash flow, transparency, and reliable financial management.
Managing Ledgers: Managing ledgers ensures accurate recording of all financial entries, helping maintain organized accounts, track balances, and support smooth business accounting.
Reconciling Bank Statements: Reconciling bank statements matches bank records with company books to identify errors, ensure accuracy, and maintain reliable financial accounts.
Preparing Financial Reports: Preparing financial reports organizes key business data into clear statements, helping track performance, ensure compliance, and support informed decision-making.
Tracking Expenses and Revenue: Tracking expenses and revenue helps monitor cash flow, control costs, measure profitability, and maintain accurate financial records for better decisions.
Cash Flow: Cash flow tracks incoming and outgoing money, ensuring smooth operations, financial stability, timely payments, and better business planning.
Benefits of Choosing Professional Accounting and Bookkeeping Support
Professional accounting and bookkeeping support ensures accurate financial records, timely reporting, and complete compliance. It helps businesses manage daily transactions, track expenses, prepare statements, and maintain organized accounts. With expert support, companies reduce errors, improve cash flow visibility, and make confident financial decisions for stable growth and long-term success.
Experts help businesses understand their finances clearly, plan better, and focus on growth without worrying about day-to-day accounting tasks.
FAQS
Q1: What are accounting services?
Accounting services involve recording, analyzing, and reporting financial transactions to help businesses track performance and comply with regulations. They include bookkeeping, financial statements, tax preparation, and advisory.
Q2: What is the difference between bookkeeping and accounting?
Bookkeeping records daily transactions like sales and expenses, while accounting analyzes this data for reports, budgets, and decisions. Bookkeeping is routine; accounting is strategic.
Q3: Why do businesses need professional accounting services?
They ensure accurate records, tax compliance, cost control, and informed decisions. Professionals save time, reduce errors, and provide growth advice.
Q4: What does a typical monthly accounting service include?
Monthly services cover transaction recording, bank reconciliation, financial reports, profit/loss statements, and tax planning meetings.
Q5: How much do accounting services cost?
Costs vary by business size, complexity, and tasks—often fixed monthly fees rather than hourly. Starts from affordable plans for small businesses.
Q6: Can I outsource accounting services?
Yes, outsourcing provides expert access, software tools, and cost savings without hiring full-time staff. Ideal for small/medium businesses.
Q7: Do accounting services handle tax filing and audits?
Yes, includes tax returns, back taxes, and audit representation. Ensures compliance and resolves IRS/tax authority issues.
Q8. What if my books are not up-to-date?
Firms catch up records, file back taxes, and clean the slate for accurate ongoing accounting. Required for quality service.
Q9. Can small businesses afford accounting services?
Yes, tailored for startups and SMEs with affordable monthly plans focused on activity, not company size.
Q10. Do you offer financial planning or business advice?
Yes, includes budgeting, forecasting, tax strategies, and growth planning beyond basic compliance.
Q11. How often should I get accounting reports?
Monthly for real-time insights; quarterly/annually for taxes and audits. Regular reviews prevent issues.
Q12.Why choose professional accountants over DIY?
Experts ensure accuracy, compliance, and optimization; DIY risks errors, penalties, and missed opportunities.