Accounting & Book Keeping

The methodical process of documenting, analysing, and interpreting financial transactions is known as accounting. Every company, regardless of size, is required to provide the Income Tax Department with their accounting documents. Startups typically ignore these problems until they are forced to deal with them together with interest after a few years. To avoid issues like raids and fines, it’s always a good idea to maintain track of your finances and send information to governmental agencies. Companies must regularly update their annual returns. The act of daily documenting your company’s financial transactions into organized accounts is known as bookkeeping. Bookkeeping is a crucial part of your accounting process for a variety of reasons. With accurate bookkeeping, businesses can monitor all of the data on their books and make crucial operational, financial, and investment decisions.