Accounting and Bookkeeping Services
Simplify Your Financial Management with Expert Mantra
With Expert Mantra by your side, managing your finances becomes simple and quick — all in just a few clicks, starting at an affordable price for the entire FINANCIAL YEAR! T&C*
Easy and fast hassle-free process
Support from in-house experts
Complete bookkeeping of assets, sales, purchases, and expenses
Preparation of balance sheet, audit, and director’s report
Why Choose Expert Mantra for Annual Accounting?
Our online bookkeeping services offer complete end-to-end digital fulfillment, managed by our team of professionals Expert Mantra – all in just 3 simple steps:
Schedule a call with our compliance experts
Share the required details and documents
Sit back while we handle the registration process for you
Accounting and Bookkeeping – An Overview
Accounting and bookkeeping are fundamental functions for every business, regardless of size, sector, or industry. These services ensure that all financial activities are accurately tracked, organized, and managed to maintain the financial health of an organization.
Bookkeeping is the first and most crucial step in this process. It involves systematically recording all financial transactions, including sales, purchases, receipts, and payments. Each transaction is documented using invoices, receipts, and other supporting documents and then entered into a bookkeeping system. This meticulous record-keeping ensures transparency, accuracy, and compliance with financial regulations.
Bookkeeping forms the backbone of accounting services, providing the raw financial data necessary to prepare essential reports such as balance sheets, profit and loss statements, and cash flow statements.
Accounting, on the other hand, goes beyond recording; it involves analyzing, interpreting, and presenting this financial data to help business owners make informed decisions. Together, accounting and bookkeeping provide a clear picture of a company’s financial position, aid in strategic planning, and ensure adherence to statutory compliance.
Why Choose Expert Mantra
221+Happy Customers
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Frequently Asked Questions…
What is accounting, and why is it important for businesses?
Accounting involves recording, analyzing, and interpreting financial data. It helps businesses monitor their finances, comply with regulations, and make informed decisions for growth.
What is the difference between bookkeeping and accounting?
Bookkeeping focuses on recording daily financial transactions, while accounting interprets and analyzes this data to create financial reports and strategies.
What financial statements are typically included in accounting services?
The main statements include the balance sheet, profit and loss (income) statement, and cash flow statement.
Which businesses benefit from outsourcing their accounting services?
Small, medium, and growing businesses benefit the most, as outsourcing saves time, reduces costs, and ensures professional expertise.
How often should a business review its financial statements?
Financial statements should ideally be reviewed monthly or quarterly to track performance and plan effectively.
What are some common accounting software programs used by businesses?
Popular software includes QuickBooks, Tally, Zoho Books, and Xero.
What is the difference between cash-basis and accrual-basis accounting?
Cash-basis records transactions when cash changes hands, while accrual-basis records income and expenses when they are incurred, regardless of payment.
What are some common accounting mistakes businesses should avoid?
Mistakes include poor record-keeping, ignoring tax deadlines, mixing personal and business finances, and failing to reconcile accounts.
What is the role of an accountant in tax preparation and planning?
An accountant ensures accurate tax filing, identifies deductions, minimizes liabilities, and plans strategies to comply with tax laws efficiently.
How can accounting services help businesses save money and make better financial decisions?
Professional accounting services provide insights to control expenses, improve cash flow, and support strategic decision-making to maximize profitability.
