ACCOUNTING SERVICES

Today the statutory norms are very stringent and no business entity can afford its non-compliance. It is desirable that maximum compliance of Tax and Regulatory are done with technical experts. Here comes the Outsourcing of Accounting and Tax Compliance activity to technical experts to enable the entrepreneur to concentrate on their core area of business at what they are best. The benefits of outsourcing are:

Services of experts made available under one roof
Enables you to concentrate on core business activities instead of focusing on compliance burden
Deployment of manpower for more important functions related to your business growth
Substantial Savings in Cost due to saving in your office space, manpower, electricity, stationery, etc.
Improved Internal Controls to safeguard your business interest
Off-site Backup of Data
Save on unnecessary Taxes, Interest and Penalties
Confidentiality insured when you are taking services of professionals
Enhanced reporting capabilities to provide more timely and accurate financial data

We at S P A R K S provide Comprehensive services to manage your accounts and keep them up-to-date. This will help you to get quality data and information at periodic interval or as required as per your business need. Some of the important highlights of the activity we undertake are as follows:

Setting the Accounting Process: A robust Accounting Process is the first basic and important area which helps an organisation to capture all the transactions with effective control procedure to safeguard the interest of the enterprises. To establish the Accounting Process, we customise COA “Chart of Accounts (Ledgers)”, Documentation process, Approval Process to build Internal Control in the system. This helps the organisation to set the required control processes and the proper documentations.

Statutory Documentation process: We guide Organisation to maintain the Documents required as per various statutory norms. This includes the legislation such as Income Tax Act, Services Tax Act, VAT, CST, Professional Tax, Provident Fund, etc.

Transactions Recording: An Accounting process is effective when transactions are recorded timely. At SRC we work on the most suitable solution with respect to reporting structure along with uniformity to capture the data, so that the accounts of the organisation are maintained uniformly and as required by law.

Balance Sheet, Profit & Loss A/c and MIS: Availability of quality information on time is vital for decision making. With this view, we provide periodical Financials viz. Balance Sheet, Profit & Loss A/c along with other MIS such as Bank Reconciliation, Debtors aging, Stock status, etc. These statements help the management to analyse the actual situation and plan for their actions accordingly.

For every successful business, it is mandatory to comply with all the statutory requirements under various applicable laws. Our Taxation Compliance Services help to undertake the statutory compliance on behalf of our clients or offer our services for periodical review of the compliances made by the organisation on its own to ensure that all legal requirements are met on time with accuracy. Our Compliance check includes activities under various enactments, which are:

Income Tax: We review the various requirements of Income Tax that needs compliance in day-to-day accounting process such as deduction of TDS (Withholding Tax), filing of the E-TDS return, etc.

Goods & Service Tax (GST): This enactment requires ascertainment of Liability on monthly / quarterly basis, availing & Utilization of CENVAT credit, maintaining the proper documents, Filing of GST return on time and Audit. This helps the Organisation to maintain the required compliance status and to maintain their GST compliance rating.

Provident Fund / Professional Tax: These acts require Compliance on monthly basis and have to be monitored on regular basis. We help the Organisations to comply with the requirement on timely basis with respect to payment and return.