Income Tax
We will provide income tax return preparation, Revised return, Responding to Department notices and solving other Income Tax related issues.
Accounting and Book-keeping
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position, and cash flows.
Timeline - 10 to 15 Working days
About
What is
meant by Accounting and Book-keeping
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position, and cash flows.
The Bookkeeping is the base for accounting. Accounting starts where the bookkeeping ends and is thus broader in scope than bookkeeping.
The account bookkeeping services may include payments made to suppliers, loan payments, customer invoice payments, monitoring asset depreciation and generating financial reports.
Book keeping is the process of recording, analyzing and interpreting the financial transaction of business. A properly maintained accounting & bookkeeping system helps a business to reduce accounting costs and analyze its financial growth.
Read MoreAccounting and Book-keeping
Types of Accounting
Financial Accounting
Financial accounting is the process of recording, summarizing and reporting the myriad of a company's transactions to provide an accurate picture of its financial position
Managerial Accounting
Managerial accounting is the practice of analyzing and communicating financial data to managers, who use the information to make business decisions.
Cost Accounting
cost accounting helps businesses make decisions about costing. Essentially, cost accounting considers all of the costs related to producing a product. Analysts, managers, business owners and accountants use this information to determine what their products should cost.
Accounting and Book-keeping
Benefits of Accounting
01.
Planning budget
Budgeting helps organizations in effectively controlling the income and expenditure of the company while monitoring the managerial policies and goals of the business. It provides a disciplined approach to developing strategies; directing capital and other resources into profitable channels.
02.
Evaluating the performance of the business:
Accounting system acts as a yardstick in measuring the performance of the business with respect to key metrics like net profit, sales growth,
03.
Managing cash flow
Regular tracking of the money that comes into the business helps in predicting the trends, paying to staff and suppliers, covering debts, etc.
04.
Presenting information to investors and stakeholders:
While approaching potential investors, creditors, banks or borrowers, the financial statements and other reports serve as financial scorecards of the company. Investors will get a better sense of the financial health of the business which includes the net worth, debts, savings, amount spent on fixed expenses. In addition, they will get to know the solvency, creditworthiness, liquidy, stocks and bond issuers of the business.
05.
Mandatory by law:
In India, as the Registrar of Companies demands a strict record of income tax payments at the end of the year, without maintaining accounts companies may end up paying tax in excess.
Accounting and Book-keeping
We Serve Everywhere
Thewealthbridge.in is web portal of the Virutchamwealth Bridge Private Limited is one stop business setup and consulting company, managed by specialized team of Business Analysts,Company Secretaries, Chartered Accountants, Corporate Lawyers and Financial Professionals company headquartered in Vellore,Tamilnadu, India. Having known for our quality of services, delivering the projects on time, we have clients spread across the globe
Business Licenses
Our Professionals Will help you in getting your business licenses and Business licenses necessary for smooth running of businesses
Financial Services
we will Provide Funds for both personal and Business. Our funding system gives a credit line facility, enabling you to expand your business to new heights
GST Returns
We will make your business to GST Compliance. Returns are required to be filed digitally online through a common portal to be provided by GSTN
Why Book keeping is required?
It is one of statutory requirement of Companies Act and Income Tax Act.
It is required to do the detailed analysis of income and expenses.
It is required to finalize the balance sheet.
It helps you to keep a check on regular tax compliance like VAT, Service tax, TDS etc. and other periodical compliance.
What includes in the package?
100% recording of all the transaction in standard accounting software.
Provides you quarterly report on your profit & loss.
Regular periodical reminder and calculation of all tax amounts.
Preparation of all compliance documents required for annual filling at ROC.
Keep a regular check on additional compliance required.
Process
Step 1: Identifying financial transactions
Step 2: Recording of financial transactions
Step 3: Preparation of ledger accounts
Step 4: Preparation of trial balance
Accounting and Book keeping
FAQ
Yes, one can submit computerised accounts, too. Now, it is easier to maintain records and all details of financial transactions on designated software or through computerized records, to eliminate any errors and miscalculations.
Although accounting can be done individually, it is highly recommended to avail the assistance of accounting professionals who can maintain the records and help you save a lot of time and effort spent on dealing with everyday bills and transactions. thus, save you a lot of man-hours and hassles of dealing with daily bills and transactions.
By following better accounting you can analyze the intricate financial details, prepare reports to accurately include quarterly and year-end closing documents, monitor and check taxation issues and filings, etc.
Secure an accounting internship
Adjust your expectations
Solidify your soft skills
Prepare to make friends and find a mentor
Maintain an active mind
Brace yourself for change
Adjust your expectations
Solidify your soft skills
Prepare to make friends and find a mentor
Maintain an active mind
Brace yourself for change
The purpose for both is keeping track of your company's income and how it spends that money. Bookkeeping is the day-to-day record keeping such as managing the receiving and payment of bills, managing the sales and receiving of payment from customers, and payroll processing. Accounting is the next step after bookkeeping. It starts where bookkeeping left off: Reviewing the bookkeeping processing, completing bank reconciliation, credit card reconciliation, completing payroll tax returns, sales tax returns, property tax returns (571-L), and compiling the periodic financial reports that summarize all of the record-keeping data.
Business-keepers sets up and trains clients on Quickbooks Pro, allowing the owner/staff to maintain the accounting themselves in the software. We recommend that we "check-in" on your Quickbooks file to make sure things are being entered consistently and accurately so there are no surprises at year end.
About Wealth Bridge
We Help You To Form Your Company In A Simple Way Wealth Bridge Will Making More Possibilities which aims at providing much-needed funds to businesses across the trading and service industry
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Head Office
2nd Floor, #23, 8th East Main Road
Gandhinagar, Katpadi, Vellore
(+91) 416 2241199
(+91) 86677 53901
Branches
ARAKKONAM OFFICE
# 10/1, Thiruthani High Road ,
Upstairs to Central Bank ,Jothi Nagar,
Arakkonam , TamilNadu - 631003
Phone:+91 6381184522 , +91 8012747723.
RANIPET OFFICE
No 126, MBT Road, Mahaveer Complex,
First Floor, Muthukadai,
(NearDarling bakery) Ranipet - 632401
Phone : +91 417 2295006 +91 86675 42148