The busiest season of the year for any taxation firm is the Tax filing! But that isn’t the single most time-consuming thing! Being a CPA firm, the most critical preparations are before the actual taxation starts! Your services vary from a wide range of offerings; be it bookkeeping or...
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Why to keep tax records? Firstly, keeping tax records is not just applicable to the businesses or CPA firms, but also for individuals. It especially comes into picture when you have to arrange proofs for being a timely tax payer. It also ensures that your claims and deductions are...
Account outsourcing is picking up pace in the markets as companies prefer to have an outside firm managing their accounts, which grants them various benefits as compared to an in-house accounting department! This type of operation is not only an efficient way to manage the accounts but it is...
A capable accounting department is very essential for any business; be it a startup or an established firm. However, like we have discussed in our previous blogs, startups usually prefer to outsource their accounts to accounting firms for various reasons So how do you determine if it is the...
The month-end closing process is one task that is dreaded by almost every person in the accounting department. Several processes are involved like depreciating fixed assets, reconciling inventory discrepancies, settling work in progress material, posting billing documents and payroll. This process can be a tedious one. But there are...
When we talk about accounting, in a broader sense, it involves a spectrum of varied aspects. It is basically a process of summarizing, interpreting and communicating the financial transactions that are recorded in the Books of Accounts. Bookkeeping is a part of this vast umbrella of accounting. There are...
Accounts outsourcing is a very common practice in the accounting world. Many small firms and mid-sized companies opt for this option to the ease their operations and isolation from the normal business chores. It is however understandable that submitting the accounts of your business isn’t an easy decision. To...
Tax season comes only once in a year, but it is a big deal for every business owner. Many companies leave it to the last minute and this procrastination costs a lot because books closed in a haste tend to have errors; both procedural and regulation wise. Every year,...
Outsourcing has become a popular trend in this hectic lifestyle, and it is a win-win situation for everyone who is involved in it. It allows CPAs a little extra time if someone else is taking care of their routine work. Accounts outsourcing has been a looming industry in India....
Compliances form a very important part in any company incorporation. The Companies Act 2013 is an inclusive act of the Central Government which basically lays down all the rules about the establishment and functioning of any company operating in India. Without further ado, let’s have a look at some...