Recording the day-to-day financial affairs of a business is a part of Bookkeeping. The preparation of financial accounts is known as Accounting. Accounting is mandatory for all forms of businesses including Small Enterprises and Freelancers. Apart from the compulsion, it is always better to keep the financial statements up to date and accurate to avoid financial muddles. Maintenance of accounts is as essential for a home-run business as it is for an industrialist. There are mandatory standards of accounting a business needs to follow. To conform to such criteria, it becomes essential to take help from experts.
Advantages of Income Tax Return Filing:
- Gauge the income and expenditure of the business
- Timely access to operational information
- Regular reconciliation rationalizes decisions
- Attract investors with accurate financial statements
- Ready to furnish data for timely compliance
We at Wise Tax Filings make it easy and inexpensive to maintain your accounts and bookkeeping. With expert support along with timely and accurate filings, we have made it hassle free for you to get started.
Documents Required for Accounting and Bookkeeping services:
Company / Business Incorporation Documents
Bank statement of a financial year or monthly statement (with remarks)
DSC of Authorised Partner or Director, in case of LLP and Company only.
Purchase-Sales invoices, if any
Expense bills, if any
Any receivable and payable detail
Any other Government registration taken
Cash Expenses
Expenses made for company or LLP registration by promoters
Bank Statement of partner/ members with remarks if used for business transactions
Meet cloud based accounting:
Since 2020, remote working has surged across all fields, making cloud-based accounting essential. Unlike traditional accounting software installed on desktops, cloud-based accounting is accessible online, allowing data storage and access via the internet. This shift has greatly facilitated remote operations. Popular cloud accounting systems include QuickBooks Online, Xero, and Zoho Books, offering numerous benefits such as flexibility, real-time access, and enhanced collaboration.
Automation helps in increasing efficiency and saving time. In addition to this, the chances of making errors in statements also decrease with the help of Automation.
Automated Processing
With the help of Cloud-based accounting, Companies from the U.S. and U.K. have started outsourcing their work to organizations in India. In simpler terms, cloud accounting software is accessible from anywhere as it is wholly dependent on the internet.
Remote Accessibility
Not only the Accountants but the management/ owners also have real-time access to all their financial transactions.
Allows Real-time Data Management
While cloud-based accounting saves time, it also helps the environment by turning your financial transactions paperless.
Protects the Environment
You can modify Cloud-based technologies to suit your personal needs. It is helpful to all types of businesses as we understand that different types of entities have different needs.
Customize the Cloud as per your Needs
Having real-time access to data online can also be helpful as the net creates a secure backup. Even if your hardware crashes, the data online will be safe and secure.
Secure backup
Manage Books in 3 Easy Steps
1 – Follow Quick Process
- Pick the best suitable Package for accounting and bookkeeping
- Spare less than 10 minutes to fill our online Questionnaire
- Upload required Documents
- Make quick payment through our secured gateways
2 – Our Experts are here to help
- We assign a dedicated Relationship Manager
- Provide the details of the Business and transactions
- Entries in the Books of Accounts for a complete Financial Year
- Maintaining the books of accounts daily
- Deliver up-to-date data
3 – Get access to updated accounts
- Get access to updated Accounts as per your requirement
- For us, data secrecy is a priority
Frequently Asked Questions:
What is the best Automated Accounting option for Small Businesses/ Freelancers?
The answer depends on your personal needs, which are based on many factors such as the number of employees, your business activities, etc. There are many Automated Accounting Software options. The best ones suitable for Small Enterprises are Quickbooks Online and Zoho Books. Furthermore, even freelancers need to keep track of their income. While working on your terms can be fun, managing your accounts can be a difficult task. Software like Quickbooks Self-Employed will be your savior!
How much time will I save by delegating my bookkeeping tasks to you?
Generally, if you are well versed with the basics of accounting and bookkeeping, maintaining daily entries will take up an excessive part of your day. As a business owner, this situation is not very profitable for you. Instead, delegating your Bookkeeping to experts will save that part of your day and enable you to focus on strategies and developmental planning.
Why take an expert’s assistance when I can maintain my own Accounts?
You can always do certain tasks on your own but expert help is always the safer option. These are the reasons why you should hire an expert for your Accounting and Bookkeeping needs:
- Save your time and focus on more important tasks.
- Chances of errors in your account are reduced.
- Even in case of any errors, you won’t have to worry yourself, as the experts will have it covered!
- You won’t have to worry about missing out on any transaction
More Questions? Our Experts are here to help, fill out the form on this page or
Call us at: 1800 123 0000 or Email us: hello@wisetaxfilings.com