Outsourcing GST Accounting & Payroll Service for Startups | Bangalore
Accounting is a discipline that deals with the financial transactions of an organization and refers exclusively to completed data records. Accounting services are vital for every business, no matter how big or small, in understanding the scope and activities of a company. Our tax accounting and bookkeeping service provide a comprehensive report on the company’s financial status report.
GST Accounting & Bookkeeping services include:
- Accounting Setup
- Accounting and bookkeeping services
- Preparation of financial statements
- Preparation of special reports
- Bookkeeping and General Accounting Service
- Tax planning & Returns
- Drawing up Accounting Systems and Procedures
- Implementation of Management Information Systems ( MIS)
- Internal Controls and Processes
- Business Finance consulting
- Forensic Accounting
- Financial Review and Structuring
- Startup Advisory
- Company Secretarial
- Payroll Compliances
- STPI Compliances
TaxAdvisorIndia is a full-fledged tax accounting and payroll company in Bangalore, India. We offer a full-range of online GST accounting services, including tax preparation, payroll, bookkeeping and more, for startups and SMEs focused on IT, Software, Service and Technology domain.
Our tax accounting firm strives to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
Simplify Your GST Filing & Invoicing with our Business Accounting Plans
Framework for the Preparation and Presentation of Financial Statements in accordance with Indian Accounting Standards
GST Accounting services in India are delivered in accordance with the Indian Accounting Standard (abbreviated as Ind-AS) is the Accounting standard adopted by companies in India and issued under the supervision of Accounting Standards Board (ASB), GST, Income Tax and other provisions that regulate the accounting and financial activities in India as well as with client accounting policies.
Payroll, Accounting and Tax Consultants
Our team of GST accountants transition your business activities to comply with the various aspects of financial reporting systems to ensure proper reporting and minimize business disruption.
As per the GST Act, every registered taxable person must maintain the accounts books and records for at least 72 months (6 years). The period will be counted from the last date of filing of Annual Return for that year.
Accurate Financial Reports
Financial statements form part of the process of financial reporting. A complete set of financial statements normally includes a balance sheet, a statement of profit and loss (also known as ’income statement’), a statement cash flows, and those notes and other statements and explanatory material that are an integral part of the financial statements
Accounting entries under GST
Accounting treatment under the GST regime has become easier to record and pass entries for the sale of goods or services and the utilisation of input tax credits.
Some of the GST accounting heads are:
- Input CGST a/c
- Output CGST a/c
- Input SGST a/c
- Output SGST a/c
- Input IGST a/c
- Output IGST a/c
- Electronic Cash Ledger
Part-Time Bookkeepers, Accountants, Payroll HR, and CFOs
Our cost-effective accounting and bookkeeping services are professionally rendered with a great precision and add value to your business. Although we ensure that our prices are always affordable, but in certain cases, specific estimates can only be attained after a discussion and understanding your specific business requirement.
Expert in Leading Accounting & Payroll Software
Our team is proficient in the latest accounting and GST software such as Tally ERP 9, QuickBooks, ZOHO Books, Sage, PeachTree and many more. Our professional accounting outsourcing services ensure that you have tax-ready financial statements when you need them the most. Moreover, you can focus on the core business activities leaving the complex finance and accounting to our expert team.
With an unbeatable experience in providing highly efficient and affordable Accounting services to a variety of clients, we can ensure accurate results and fast turnaround times for all your business requirements.
Our GST-friendly Accounting & Bookkeeping Services include:
- Bookkeeping services: trial balance, general ledger, sub-ledger records, depreciation calculation, petty cash management
- GST: GST business advice, Returns filing, GST calculation, GST transactions
- Foreign trade activities and managing foreign payment register systems
- Registration of clients with tax authority (GST system registration)
- Delivering documents to client offices, banks, and other regulatory bodies
- Report submission via the Internet
- Assisting auditors with financial report audit
- General ledger management applying chart of accounts generally used in India
- Preparing reports in the English language
- Data formatting in accounting software appropriate for delivery via the Internet
- Preparing quarterly financial reports in accordance with Indian legislation
- Annual financial reports in accordance with India legislation
- Modern Accounting with GST
Outsourcing Payroll Services – Bangalore, India
Payroll services include assistance in setting up pay structure, obtaining monthly attendance data, processing of payroll, issue of payment advice for transfer of salary and mailing of payslips to employees. Based on the business need and employee strength, we recommend either desktop or cloud-based payroll software. The main advantage of choosing cloud-based payroll software such as QuickBooks or ZohoBooks is that the employees will be able to access all their payroll data online and will be able to update their inputs online. We are committed to ensuring full compliance with all applicable labour laws, such as PT, PF, ESI, Shop & Establishment Act.
Tax Accounting Process in India
We perform advanced analysis and classification of business activities into the accounting records as per the Indian Accounting Standard (IND AS). Some of the items to be considered are:
- Material expenditures
- Facilities capacity
- Paid professional fees
- Concluded sales contract
- Duties & Taxes
- Trade receivables
- Payroll account
- Record entries into business books
- Journal: chronological entries of business activities
- General ledger
- Inventory process: register of assets and liabilities to determine the available balance and to record possible variances
- Trial balance: recapitulation of balance and turnover of all accounts in the general ledger
- Preparing financial reports
Accounting books:
- Journal: a chronological list of business activities
- General ledger: records of changes in financial status and/or business performance;
- consists of two parts: balance and off-balance records
- Subledger records: kept separately
Outsource GST-compliant Accounting & Payroll Services
Tax Advisor India provides the support and expertise businesses need to succeed within the context of an ever-changing business landscape. We offer a broad spectrum of accounting, financial, and consulting services with a commitment to excellence in client service.
Types of financial statement reports:
- Balance sheet: A report on the financial status
- Profit and loss account- A report on general income/economic outturn
- Report on the owner’s equity changes
- Cash flow report
- Notes along with financial reports
Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities for the growth of your business. We are knowledgeable and up to date on the tax laws and can make sense of your receipts, bills and notices.
Contact us now to receive an obligation-free price quote for startup-friendly accounting, payroll and bookkeeping services and discuss how we can help your business grow.