Bookkeeping is the process of recording and maintaining financial records for a business to manage its finances, make informed decisions, and comply with tax laws and regulations.
A bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement.
Accounts payable (AP) is a short-term debt and a liability on a balance sheet, Accounts receivable (AR) are the balance of money due to a firm for goods or services delivered.
ESI registered businesses have to file ESI returns on monthly basis. It is governed under the ESI Act, 1948; ESIC (Employees' State Insurance Corporation) which provides benefits to employees in the event of their sickness, death, disablement, injury, etc.
EPF returns preparation involves the calculation and submission of various forms and documents related to the contributions made by both employees and employers to the provident fund.
Preparing GST returns involves a systematic process to ensure accurate reporting and compliance with tax regulations.
Payroll can be defined as the process of paying a company's employees. It includes collecting the list of employees to be paid, tracking the hours worked, calculating the employee's pay, distributing the salary on time, and recording the payroll expense.
Preparing and filing income tax returns is an annual obligation for individuals and entities with taxable income.
Finalizing accounts is a crucial step in the accounting process, typically performed at the end of a financial period, such as a fiscal year.