Accounting Plus
Data Entry (Bookkeeping)
Bookkeeping helps to interpret the accounting information for decision making by both the internal and external users. Bookkeeping is a subset of accounting and clerical in nature which involves the following:
- Recording financial transaction
- Posting credits and debits
- Producing invoices
- Maintaining and balancing current account and general ledgers
Accounting Plus
Accounts Payable
When a company purchases goods on credit which needs to be paid back in a short period of time, it is known as Accounts Payable. It is treated as a liability and comes under the head ‘current liabilities’. Accounts Payable is a short-term debt payment which needs to be paid to avoid default.
Accounting Plus
Accounts Receivable
Accounts Receivable (AR) is the proceeds or payment which the company will receive from its customers who have purchased its goods & services on credit. Usually the credit period is short ranging from few days to months or in some cases maybe a year.
Accounting Plus
BRS (Bank Reconciliation Statement)
A Bank Reconciliation Statement is a document that compares the Cash Balance on a Company’s Balance Sheet to the corresponding amount on its Bank Statement. Reconciling the two accounts helps identify whether accounting changes are needed. Bank Reconciliations are completed at regular intervals to ensure that the company’s cash records are correct. They also help detect fraud and any Cash manipulations.
Accounting Plus
Accounts Audit
The ESI (Employee State Insurance) registration is given to the employees in India to ensure some security for the employees and their families. This registration is provided under ESIC (Employee State Insurance Corporation). ESIC is an autonomous self-financing body that is controlled by the ESI Act 1948.
Accounting Plus
GST Filing
GST return is a document that will contain all the details of your sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). Once you file GST returns, you will need to pay the resulting tax liability (money that you owe the government).
Accounting Plus
Income Tax Filing
ITR stands for Income Tax Return. It is a prescribed form through which the particulars of income earned by a person in a financial year and taxes paid on such income are communicated to the Income-tax Department.
Accounting Plus
GSTR 2B Reconciliation
GSTR-2B is a reconciliation report that is automatically generated from a seller’s filed return, after the due date. Once your sellers or suppliers file the relevant return, such as GSTR-1, GSTR-5, or GSTR-6, then the details of all your purchases as well as Input Tax Credit (ITC) will appear in GSTR-2B.
