Accounting & Finance Services

Accounting & Finance services

• Accounting Services — Maintain accurate accounts, reconcile balances and prepare financial reports. (Contact for pricing)
• Audit & Assurance — Independent review and assurance support for your financial information. (Contact for pricing)
• Bookkeeping Services — Organize invoices, record transactions and reconcile your business books. (Contact for pricing)
• Internal Audit — Review business processes, identify control gaps and track corrective actions. (Contact for pricing)
• Virtual Accountant — Remote accounting support for your daily transactions and monthly reporting. (Contact for pricing)
• Virtual CFO Services — Financial planning, cash-flow forecasting and strategic finance support. (Contact for pricing)

Accounting & Finance: complete guide

Introduction

Every business in India, from a one-person consultancy to a growing private limited company, runs on its numbers. Accurate books of account tell you whether you are making money, how much cash you have, who owes you and whom you owe. They are also the foundation of almost every legal obligation a business has: income tax returns, GST returns, TDS filings, statutory audit, annual filings with the Registrar of Companies, and the information that banks, investors and government schemes ask for. When the books are late or unreliable, every one of those obligations becomes harder, more expensive and riskier.

Indian law sets clear expectations. Section 128 of the Companies Act, 2013 requires every company to keep books of account on an accrual basis and by the double entry system at its registered office, and to preserve them for eight financial years. Section 44AA of the Income-tax Act, 1961 and Rule 6F require specified professionals and businesses above certain income or turnover levels to maintain books of account. The GST law requires registered persons to keep accounts of supplies, input tax credit and tax paid. Section 44AB requires a tax audit where turnover or receipts cross the limits set in the Act. Companies need a statutory audit every year, and certain companies must also have an internal audit under Section 138 of the Companies Act.

Our Accounting & Finance category brings together the services a business needs to meet these requirements and to use its numbers well: day-to-day bookkeeping, full accounting and reporting, statutory audit and assurance, internal audit, a dedicated virtual accountant, and virtual chief financial officer support. Each service can be taken on its own or combined with others, and each links naturally with our tax, GST and corporate compliance services.

Professional support matters here because accounting is continuous. Errors made in April show up in the GST reconciliation in October, the tax audit in September of the next year, and sometimes in a notice two years later. Our team of chartered accountants and accounting professionals sets up a clear process for your business, keeps the records current, reconciles them regularly with banks and tax portals, and reports to you in a form you can act on.

This page explains each service in the category, who these services are for, how to choose between them, how we work and how pricing is set.

Services in This Category

Accounting Services. Our accounting service covers the full cycle of maintaining your books and preparing financial statements. We record transactions, maintain ledgers, reconcile bank accounts, track receivables and payables, account for fixed assets and depreciation, make period-end adjustments and prepare the profit and loss account, balance sheet and, where required, cash flow statement in line with the applicable accounting standards and Schedule III of the Companies Act, 2013 for companies. This service is suitable for businesses that want their accounts kept accurately and ready for tax filing and audit, without building an in-house accounts department.

Audit & Assurance. Our audit and assurance service covers statutory audits of companies under the Companies Act, 2013, tax audits under Section 44AB of the Income-tax Act, 1961, and other assurance engagements such as audits of LLPs where required, trusts and societies, certifications for banks and government schemes, and agreed-upon procedures. Audits are carried out by practising chartered accountants in line with the Standards on Auditing issued by the Institute of Chartered Accountants of India. The auditor's independence rules mean we do not audit accounts we have prepared ourselves, and we tell you plainly where this affects the services we can offer you together.

Bookkeeping Services. Bookkeeping is the routine recording of daily transactions: sales, purchases, expenses, receipts and payments. Our bookkeeping service keeps your records up to date every week or month, organises invoices and bills, matches entries with bank statements and keeps the data ready for GST returns and month-end reporting. It is suited to small businesses, startups and professionals who generate a steady volume of transactions but do not need full-scale accounting and reporting every month.

Internal Audit. Internal audit is an independent review of your processes, controls and risks, carried out throughout the year rather than once at the end. Under Section 138 of the Companies Act, 2013 and the Companies (Accounts) Rules, 2014, certain classes of companies above specified turnover, borrowing or deposit levels must appoint an internal auditor. Many other businesses choose internal audit voluntarily to check purchasing, inventory, payroll, revenue leakage and compliance. Our internal audit service plans the review around your key risks, tests controls and transactions, and reports findings with practical recommendations.

Virtual Accountant. A virtual accountant is a dedicated, remote accounting professional who works on your books as if they were part of your team, without the cost and commitment of a full-time hire. They handle bookkeeping, invoicing support, vendor payment schedules, expense tracking, bank reconciliations, and preparation of data for GST and TDS, using your accounting software and a secure document-sharing process. This service is suitable for growing businesses that need regular, hands-on accounting support with a single point of contact.

Virtual CFO Services. A virtual chief financial officer provides senior-level financial leadership on a part-time or retained basis. The service covers budgeting and forecasting, cash flow planning, management information system reports, financial modelling, unit economics, fundraising support, investor reporting, banking relationships, cost control and oversight of the accounting and compliance function. It is suited to startups and growing businesses that need strategic financial guidance before they are ready to appoint a full-time chief financial officer.

Who These Services Are For

Our Accounting & Finance services are used by a wide range of businesses and individuals, including:

• Startups. Early-stage companies that need clean books from day one, investor-ready financial statements, and help with budgeting, runway planning and due diligence.
• Small and medium enterprises. Traders, manufacturers and service businesses that need reliable monthly accounts, GST-ready records and timely audit support.
• Private limited companies and LLPs. Entities with statutory requirements to keep books, prepare financial statements in the prescribed format and get them audited where required.
• Professionals and freelancers. Doctors, architects, consultants, designers and other professionals who must maintain books under the income tax rules once their receipts cross the limits.
• E-commerce sellers. Businesses selling online that need careful reconciliation of marketplace settlements, returns, commissions and tax collected at source.
• Trusts, societies and non-profits. Organisations that need proper accounts and audits for registration, exemptions and donor reporting.
• Businesses preparing for funding or sale. Companies that need their accounts cleaned up, reconciled and audited before investors or buyers carry out due diligence.
• Foreign-owned subsidiaries. Indian subsidiaries of overseas groups that need local accounting, statutory audit and reporting to the parent in a consistent format.
• Businesses with past backlogs. Entities whose books are months or years behind and need catch-up accounting to bring tax and company filings back on track.

How to Choose the Right Service

The right service depends on your size, your transaction volume, your legal obligations and how much financial guidance you need. Here is a simple way to think about it:

• If you mainly need your daily transactions recorded, start with Bookkeeping Services. This suits businesses with straightforward operations that already have someone reviewing the numbers and handling tax filings.
• If you need complete books and financial statements, choose Accounting Services. This suits businesses that must prepare financial statements for tax returns, company filings or bank requirements.
• If you want a dedicated person working on your books regularly, choose a Virtual Accountant. This suits businesses with higher transaction volumes or more coordination work, such as vendor payments and invoicing.
• If you need strategic financial direction, choose Virtual CFO Services. This suits businesses that are raising funds, scaling quickly, facing cash flow pressure or reporting to a board and investors.
• If you are required by law to have your accounts audited, you need Audit & Assurance. Companies need a statutory audit every year, and businesses and professionals above the limits in Section 44AB of the Income-tax Act, 1961 need a tax audit.
• If you want an independent check on your processes and controls, or if your company is required to appoint an internal auditor, choose Internal Audit.

Many clients combine services. A common arrangement is a virtual accountant or bookkeeping service for daily work, accounting services for monthly or quarterly closing, and a virtual CFO for planning and reporting, with the statutory audit carried out separately by an independent auditor. Where the same firm cannot act in two roles because of auditor independence rules, we explain this at the outset.

If you are unsure, a short consultation is usually enough. We look at your entity type, turnover, number of transactions, existing systems and the legal requirements that apply, and recommend a service or combination that fits.

How We Work

Our approach is the same across the category, adapted to the service you choose:

1. Understanding your business. We begin with a discussion of your business model, entity type, transaction volume, existing accounting software and your reporting and compliance calendar.
2. Scoping the engagement. We agree in writing what we will do, how often, what you will provide, the reports you will receive and the deadlines we will work to.
3. Setting up access and systems. We set up secure access to your accounting software, bank statements and document folders, or help you choose and set up a suitable system if you do not have one.
4. Opening balances and clean-up. Where the books are behind or inconsistent, we bring them up to date and reconcile opening balances before regular work begins.
5. Regular processing. We record transactions, reconcile bank and ledger accounts, and track receivables, payables and tax balances at the frequency agreed.
6. Reconciliation with tax data. We reconcile your books with GST returns, input tax credit statements and TDS records, so differences are caught early.
7. Review by a qualified professional. Work done by our accounting team is reviewed by a chartered accountant or senior accounting professional before reports are shared.
8. Reporting and discussion. We share financial statements or management reports in a clear format and discuss key numbers, trends and issues with you.
9. Audit and compliance support. We prepare schedules and supporting documents for audits and coordinate with your auditors, tax team or company secretary.
10. Continuous improvement. We suggest improvements to your processes, controls and reporting as your business grows.

Throughout the engagement, you have a named point of contact. Your data is handled confidentially, shared only with the people who need it for the work, and kept in line with professional record-keeping requirements. Accounting standards, tax rules and audit requirements are revised from time to time, and we apply the requirements in force for the period being reported.

Pricing

Pricing in the Accounting & Finance category depends on the scope of work rather than a single fixed fee, because the effort involved varies widely from one business to another.

The main factors that affect pricing are:

• The service or combination of services you choose.
• Transaction volume, such as the number of invoices, bills, bank transactions and employees.
• Frequency of work, whether weekly, monthly, quarterly or annually.
• Entity type and legal requirements, such as company, LLP, firm or trust, and whether a statutory, tax or internal audit is required.
• Complexity, such as multiple locations, multiple GST registrations, inventory, foreign transactions or group reporting.
• State of the existing books, including whether catch-up work or clean-up is needed.
• Level of strategic involvement, particularly for virtual CFO services.

Each service page in this category shows how pricing works for that service. For most services in this category, we provide a written quote after a short discussion of your requirements. The quote sets out exactly what is included, the deliverables and timelines, and any items that are charged separately. Government fees and any third-party charges, such as software subscriptions, are payable at actual. We do not begin work until you have reviewed and accepted the quote.

FAQs

What is the difference between bookkeeping and accounting?

Bookkeeping is the recording of daily transactions. Accounting builds on bookkeeping to make adjustments, close the books for a period and prepare financial statements and reports. Many businesses need both.

Is it compulsory for my business to maintain books of account?

Companies must maintain books under Section 128 of the Companies Act, 2013. Businesses and professionals must maintain books under Section 44AA of the Income-tax Act, 1961 when their income or turnover crosses the prescribed limits, and GST-registered persons must keep the accounts required under the GST law.

Does every company need an audit?

Yes. Every company registered under the Companies Act, 2013 must have its financial statements audited by a chartered accountant each year, regardless of its size or turnover.

What is a tax audit and who needs one?

A tax audit under Section 44AB of the Income-tax Act, 1961 is required where a business or profession's turnover or gross receipts cross the limits set in the Act, or in certain other cases, such as where presumptive tax provisions are not followed. The limits are checked for the relevant year.

Can the same firm do my accounting and my statutory audit?

Professional independence rules restrict an auditor from auditing accounts they have prepared, especially for companies. We explain the restrictions at the start and suggest suitable arrangements.

What does a virtual CFO actually do?

A virtual CFO handles budgeting, forecasting, cash flow planning, management reports, fundraising support, investor reporting and oversight of the finance function, on a part-time or retained basis.

Is internal audit mandatory?

Internal audit is mandatory for certain classes of companies under Section 138 of the Companies Act, 2013, based on criteria such as turnover, borrowings and deposits. Other businesses often choose it voluntarily.

Which accounting software do you work with?

We work with the major accounting software used in India, both desktop and cloud-based, and can also help you select and set up a system that suits your business.

Can you bring my old books up to date?

Yes. We take on catch-up and clean-up work for businesses whose books are behind, so that tax returns, GST reconciliations and company filings can be completed.

How do I share documents with your team?

We set up a secure document-sharing process and, where relevant, access to your accounting software. You can share invoices, bills and bank statements electronically.

Do you also handle GST and income tax filings?

Our accounting services prepare the data for GST and income tax filings. The filings themselves are handled through our tax and compliance services, which can be combined with accounting.

How is my financial data kept confidential?

Access is limited to the team members working on your engagement, data is shared through secure channels, and our professionals follow the confidentiality obligations of their professional bodies.

Why are prices not shown on this page?

Pricing depends on the service, the volume and the complexity of your work. Each service page explains how its pricing works, and we provide a written quote after understanding your needs.

Can I start with one service and add others later?

Yes. Many clients start with bookkeeping or accounting and add a virtual accountant, internal audit or virtual CFO support as their business grows.