ACCOUNTING AND BOOK KEEPING SERVICES

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ACCOUNTING AND BOOKKEEPING SERVICES IN INDIA

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Accounting is the systematic process of recording, analysing, and interpreting financial transactions. It is the responsibility of every business – whether large or small to deliver their accounting records to the Income Tax Department. Generally, startups neglect these issues and after a few years they are forced to deal with them, plus pay interests. It's always a good idea to keep track of your finances and provide information to government organisations to avoid difficulties like raids and fines. Companies are required to update the annual returns regularly. With the help of Mibook, an accounting company in India, one must keep their accounting processes up to date.

BENEFITS OF ACCOUNTING AND BOOKKEEPING AT MIBOOK

Budgeting

Accounting and bookkeeping enable organisations to efficiently control the company's income and expenditure while monitoring managerial policies and goals. Mibook, an accounting firm in Bangalore conducts all the tasks related to accounting and bookkeeping of your organisation.

Evaluating the Business's Performance

Helps in measuring the performance of the business in terms of key measures such as net profit, sales growth, and so on.

Managing Cash Flow

Keeping track of the money that comes into the business regularly helps in projecting patterns, paying employees and suppliers, repaying debts, etc. Top accounting companies in India just like Mibook suggest to you how to manage the cash flow with the help of accounting and bookkeeping services.

Financial Information to Investors and Stakeholders

Maintaining accounting and bookkeeping records allows investors to gain a better understanding of the business's financial health, including its solvency, creditworthiness, liquidity, stock, and bond issuers.

Mandatory by law

In India, the Registrar of Companies requires a strict record of income tax payments at the end of the year failing which, companies may face additional taxes or fines. Accounting company Mibook in Bangalore helps you to meet all the legal requirements in terms of accounting records.

PROCEDURE AT MIBOOK FOR BOOKKEEPING SERVICES IN BANGALORE

DAY1

Send us the copy of book- Send us the scanned copy of your accounting books and one of our experts shall get in touch with you.

2 WORKING DAYS

Analysis of your books- Our experts shall then analyse your accounting books and make entries into books according to the same.

2 WORKING DAYS

Verification and Approval by you- As the next procedure, the final tally entry shall be sent by our experts to you for verification and approval.

6-7 WORKING DAYS

Preparation of Balance sheet- Once approved by you, our experts shall then prepare the balance sheet and PNC statement of the same.

CONGRATULATIONS

Your work is completed- Once the Balance sheet and PNC are prepared, the books of accounts are finalised and completed and sent to you.

DOCUMENTS REQUIRED BY MIBOOK FOR ACCOUNTING AND BOOKKEEPING SERVICES

PAN Card: Copy of PAN Card of the business entity

Incorporation Documents: Certificate of Incorporation, MOA – AOA/ LLP Agreement / Partnership Deed

Bank Statement: Statement of the current account in name of the business

Bank Statement of Partners: Bank statement of the saving account of partners is also required

Registration Certificates: Certificate of Government registration, such as GST Invoices and Bills: Sales invoices and expense bills for the concerned accounting period

Invoices and Bills: Sales invoices and expense bills for the concerned accounting period

Details of Assets: Invoices of sale or purchase of assets or pending loans

Preliminary expense: Expenses made for company or LLP registration by promoters

Details of Cash transactions: All the transactions incurred in cash needs to be booked

Mibook auditors

BOOKKEEPING SERVICES IN BANGALORE BY MIBOOK

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Here at Mibook,we deliver on time book-keeping services which are an amalgamation of traditional accounting & bookkeeping processes and online, cloud-based accounting & bookkeeping processes with help of Accounting App. We make the optimum use of proprietary software and systems developed for efficient delivery of bookkeeping tasks while ensuring accuracy is maintained. The Mibook is among the top accounting companies in Bangalore putting all efforts to provide each business class with our impeccable accounting and bookkeeping services in Bangalore.
Our team of adept bookkeeping professionals facilitates you to invest your crucial time in increasing the profitability of your business. We take your accounting and bookkeeping tasks into our hands for the smooth operation of your business.

Within the deadline, cost-effective and scalable accounting solutions, precisely for your accounting and booking management are delivered by our accounting firm Mibook in Bangalore.

At Mibook we are focused to help you get over all accounting and bookkeeping challenges to let you concentrate on the profitability of your business through accelerating the sales. This is an opportunity for you to optimise your bookkeeping and accounting procedure with efficient management.

WHAT DOES ACCOUNTING AND BOOKKEEPING SERVICES IN BANGALORE INCLUDE?

Under Accounting:

-Preparing tax returns
-Payroll services
-Cash handling services
-E-Accounting services
-Preparing financial statements
-Accounts payable/receivable
-Trial balance reconciliation
-Preparing balance sheet

Under Bookkeeping:

-Recording information
-Debt planning & reduction
-Labour cost management
-Invoice processing services

HOW OUTSOURCING YOUR ACCOUNTING AND BOOKKEEPING TO MIBOOK HELPS?

The outsourcing of your accounting and bookkeeping management to Mibook helps in many ways. It has become an important aspect of the smooth running of businesses in Bangalore today.

A Most significant reason for any business house to outsource the accounting and bookkeeping matters to our accounting firm in Bangalore, is that it is Cost-Effective. Hiring an efficient bookkeeper demands to incur a huge amount. And if any local or untrained accountant is hired then the consequences of his/her work impacts the organisation’s credibility adversely. So opting for Mibook to outsource the accounting works saves cost plus we deliver quality services.

Outsourcing bookkeeping work to our accounting company Mibook in Bangalore also provides businesses with access to the exact secure technological platforms used by top organisations without requiring to incur that much heavy amount or being concerned about the associated data security requirements.

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Also it is a big time saver option for the entrepreneurs. We all know how complex and complicated it is to maintain books of accounts. Outsourcing this task to Mibook the top accounting company in Bangalore saves crucial time and energy of the in-house staff, which allows them to work on other important projects for the business growth.

Top accounting company Mibook in Bangalore allows you to adjust the type of assistance you are looking forward to according to your financial stability. Whether you need accounting and bookkeeping services in Bangalore for full-time or for a few hours or on a monthly basis. Mibook is open to assisting you at your convenience. Irrespective of the accounting solutions the online and cloud-based accounting needs are catered as per your requirements.

Learn more according to needs

Frequently Asked Questions

In the bootstrapped days of a small firm or startup, acquiring bookkeeping services in Bangalore could seem like an extra investment you can't afford, but it's likely that you can benefit from bookkeeping services in a number of ways.
Indications that it is time to hire a bookkeeper

The clock is ticking
It doesn't make sense to spend hours on bookkeeping when those hours might be better spent maintaining client relationships or generating new sales especially when you are a small business owner with a limited period of time.

Things you are missing
The meticulous attention to detail and mathematical ability required to be a proficient bookkeeper are not qualities that are bestowed upon everyone. It's time to hire one of the top accounting companies in Bangalore such as Mibook.

You are underperforming
You are inadequate to choose the best course of action for your company in terms of Bookkeeping.

Bookkeeping services offered by Mibook, an accounting firm in Bangalore:

Single Entry System
As implied by the name, a single-entry system only requires one entry to be made for each transaction that takes place within a corporation. Generally, smaller organizations with less revenue prefer using one accounting system instead of multiple ones.

Double Entry System
Most accounting companies in Bangalore have bookkeepers and accountants who use the Double-Entry Bookkeeping System, which is the traditional method of record-keeping. The preferred method is a double-entry system since it is much more difficult and involved to maintain than a single-entry system.

Online Bookkeeping
You could discover that employing online accounting and bookkeeping services in Bangalore is advantageous if the idea of keeping your books using single-entry or double-entry methods unnerves you.

The goal of bookkeeping services in Bangalore at Mibook is to organise and arrange the financial operations of your business so that you can monitor your financial situation.
Services often consist of the following:
- recording earnings and expenses
- controlling cash flow
-settling debts
- planning and preparing for taxes
- matching up bank statements
- financial preparation
- controlling payroll
- creating accounting reports

Top accounting companies in Bangalore will typically handle your company's books in three stages. The bookkeeping software expert will generate a file that is tailored to the particular requirements of your organization for the first layer.
Organizing Your Financial Records
Additionally helpful in monitoring and organizing your financial data are online bookkeeping services. The full-time accounting firm in Bangalore, which will handle many of the responsibilities listed above, is the second tier.

Every successful business owner will likely quickly agree that a superb accountant is the foundation of every great company. It is a known truth that accounting companies in Bangalore play a crucial role in every successful company. Businesses need accounting and bookkeeping services because:

- It helps to identify company prospects and financial analysis that is intelligent. A thorough accounting function is essential for controlling the company's most important costs and chances for growth.
- Give a reliable financial history of your company. Despite popular belief, accounting and bookkeeping services in Bangalore involve more than merely counting money; it also includes maintaining a systematic record of all corporate operations, including purchases, payments, costs, and reimbursements.
-Offer priceless tax guidance and services. Accountants will be the first point of planning when it comes to business and taxes and the last point of execution when it comes to calculating and preparing all things linked to corporate taxation.

Every successful business owner will likely quickly agree that a superb accountant is the foundation of every great company. Businesses are benefitted from bookkeeping services in Bangalore in the following ways:

- It helps to identify company prospects and financial analysis that is intelligent. A thorough accounting function is essential for controlling the company's most important costs and chances for growth.
-Give a reliable financial history of your company. Despite popular belief, accounting and bookkeeping services in Bangalore involve more than merely counting money; it also includes maintaining a systematic record of all corporate operations, including purchases, payments, costs, and reimbursements.
- Offer priceless tax guidance and services. Accountants will be the first point of planning when it comes to business and taxes and the last point of execution when it comes to calculating and preparing all things linked to corporate taxation.

To record daily financial transactions, such as purchases, receipts, sales, and payments, bookkeeping is a transactional and administrative position. Accounting firm in Bangalore offers more individualized financial insights to business owners based on information gained from their bookkeeping data.

The primary responsibility of a bookkeeper is to keep accurate records of every dollar that enters and exits the company. Daily transactions are recorded by accounting companies in Bangalore in a consistent, readable manner.

A bookkeeper records financial information, whereas an accountant analysis and uses it to give business owners crucial financial and business insights.

The accounting and bookkeeping services in Bangalore result in reports that bring together important elements of your company's finances to give you a comprehensive picture of where your finances stand, what they mean, what you can and should do about them, and where you can anticipate where your company will go in the near future.

Every successful business owner will likely quickly agree that a superb accountant is the foundation of every great company. Businesses are benefitted from bookkeeping services in Bangalore in the following ways:

- It helps to identify company prospects and financial analysis that is intelligent. A thorough accounting function is essential for controlling the company's most important costs and chances for growth.
-Give a reliable financial history of your company. Despite popular belief, accounting and bookkeeping services in Bangalore involve more than merely counting money; it also includes maintaining a systematic record of all corporate operations, including purchases, payments, costs, and reimbursements.
-Offer priceless tax guidance and services. Accountants will be the first point of planning when it comes to business and taxes and the last point of execution when it comes to calculating and preparing all things linked to corporate taxation.