A plain-language guide to small business accounting
Why monthly books beat year-end catch-up
When books are kept every month, GST returns are quicker and more accurate, your input tax credit matches what suppliers have filed, and your income tax return is nearly ready when the year ends. Catching up twelve months in March almost always means missed credits and rushed decisions.
Matching purchases with GSTR-2B
You can only claim GST credit on purchases that your suppliers have reported. Each month we compare your purchase register with the auto-generated statement, follow up on missing invoices, and claim only what is safe to claim.
Keeping business and personal money apart
A separate bank account for the business makes everything simpler — from bookkeeping to loan applications. Where accounts are mixed, we help you sort out which entries belong to the business.
TDS and other deductions
Depending on your size and the payments you make, you may need to deduct tax on rent, contractor or professional payments and file quarterly TDS returns. We let you know when this starts to apply to you.
Year-end and income tax
At year end your books feed into your profit and loss statement and income tax return. If your business crosses the limit for a tax audit or needs a statutory audit, we coordinate with an independent chartered accountant and keep your records ready.