Accounting Services

Accounting is the full cycle that turns recorded transactions into meaningful financial information: maintaining ledgers, posting adjustments, reconciling accounts, and producing financial statements (profit & loss, balance sheet, cash flow) and management reports. It goes beyond bookkeeping's data entry to the analysis and statements you and the authorities rely on.

Proper accounting keeps you compliant (your statutory financials, audit and ITR depend on it) and informed (you can actually read your profitability, margins and cash position). For a growing business, it's the difference between guessing and knowing.

We run your full accounting cycle — ledgers, adjustments, reconciliations and financial statements — reviewed by qualified accountants, with management reports so you can make decisions on real numbers.

For a company this is not optional, and the standard is set by statute. Section 128(1) of the Companies Act, 2013 requires every company to prepare and keep at its registered office books of account, other relevant books and papers and the financial statement for every financial year, giving a true and fair view — "on accrual basis and according to the double entry system of accounting". Books may be kept at another place in India if the Board so decides, but the company must then file a notice with the Registrar within seven days, and books may be kept in electronic mode in the prescribed manner. Section 129(1) requires the financial statements to comply with the accounting standards notified under section 133 and to follow the form in Schedule III.

Retention and the personal consequence. Section 128(5) requires the books of a company for not less than eight financial years immediately preceding — together with the vouchers relevant to any entry — to be kept in good order, and longer where an investigation has been ordered under Chapter XIV. Section 128(6) puts the consequence on named individuals: the managing director, the whole-time director in charge of finance, the Chief Financial Officer or whoever the Board charges with compliance is punishable with a fine of not less than ₹50,000 and up to ₹5,00,000. This is one of the few accounting obligations where the penalty lands on a person rather than the company.

A worked month, showing how payroll lands in the books. Assumptions: one employee on ₹20,000 gross (basic ₹10,000 + HRA ₹5,000 + special allowance ₹5,000), covered for both provident fund and ESI, professional tax of ₹200 (State-specific, assumed), and EDLI plus PF administrative charges at 0.50% each of PF wages (rates are fixed by notification — assumed here). The month's entry is: debit salaries and wages ₹20,000, employer PF contribution ₹1,800, employer ESI contribution ₹650, and EDLI and administrative charges ₹150 — ₹22,600 in total cost; credit PF payable ₹3,600 (₹1,800 employee + ₹1,800 employer), EDLI and charges payable ₹150, ESI payable ₹800 (₹150 + ₹650), professional tax payable ₹200, and salaries payable ₹17,850 as net pay. A separate entry provisions gratuity at about ₹721 for the month (15/26 of a month's wages, divided by twelve).

That entry is where most small-company books go wrong. The four credit balances are statutory liabilities with dates — PF and ESI clear within fifteen days of month end, salary TDS within seven days (30 April for March), professional tax on the State's schedule. If those accounts are not agreed to the challans every month, the mismatch surfaces at audit or in a notice rather than at the close. We reconcile them as part of the cycle, alongside GST and TDS, so the year-end financials that feed your statutory audit and ITR are already tied out. Payroll itself is run through payroll management, and the deduction and deposit obligations behind these liabilities are set out in the payroll compliance checklist.