Accounting and Bookkeeping
- Art Teacher
- London, UK
- 5-7 Hrs
At Aarthika Globcorp Solutions, we provide professional accounting and bookkeeping services in India designed for startups, SMEs, and large enterprises, because accurate financial management is the foundation of every successful business. While bookkeeping focuses on recording daily financial transactions with precision, accounting goes a step further—summarizing, analyzing, and reporting those records to ensure compliance, strategy, and growth. Many business owners overlook these tasks until tax filing, audits, or investor reviews, but in reality, well-maintained books help you track cash flow, monitor profits, forecast budgets, and make informed decisions. With our expert team of accountants, we ensure your business stays compliant, audit-ready, and financially strong, so you can focus on scaling your venture while we handle the numbers.
- Sales invoices and receipts
- Purchase bills and vendor invoices
- Bank statements and cheque counterfoils
- Cash transaction records (petty cash vouchers)
- Payroll records (salary slips, PF, ESI payments)
- Loan documents and interest certificates
- GST returns, income tax filings, and TDS challans
- Fixed asset bills and depreciation schedules
- Investment or funding documents
- Expense receipts (rent, utilities, marketing, etc.)
- Collect and categorize financial documents (invoices, receipts, statements)
- Record transactions in appropriate books—cash book, purchase book, sales book, journal, etc.
- Use accounting software or ledgers to classify income and expenses under correct heads
- Reconcile bank statements monthly with the cash book
- Maintain payroll records and statutory deductions (TDS, EPF, ESI)
- Prepare trial balance, adjust for accruals, depreciation, and provisions
- Generate profit & loss account, balance sheet, and cash flow statements
- Ensure compliance with GST, TDS, and other statutory reporting
FAQs
As per Section 44AA of the Income Tax Act, every business requires to maintain proper books of account if income exceeds INR 1,20,000/- or his total sales, turnover or gross receipts exceeds INR 10,00,000/-
As per Section 271A of the Income Tax Act, a penalty of ₹25,000 can be imposed for failure to maintain proper books.
Accounting records must be retained for at least 8 years from the end of the relevant financial year under the Companies Act, 2013 and Income Tax Act, 1961.
Accounting is mandatory for sole proprietors if their income or turnover exceeds specified limits, generally ₹1.2 lakhs income or ₹10 lakhs turnover in preceding years, with higher thresholds in some cases.
Statutory books under the Companies Act, 2013 include financial statements, cash books, bank books, vouchers, ledgers, and other documents showing true and fair view of the company’s affairs and are to be maintained at the registered office.
Audit of accounting statements is mandatory for companies and certain businesses if turnover crosses prescribed limits; companies must file audited financial statements with the Registrar of Companies.