Accounting is the way of conveying financial information about a business unit to managers and shareholders. The communication of conveying the information are generally made in financial statements which in money terms show that economic resources are under control of management.
Accounting services include experiences with account in the company, flow of cash, potentiality of work etc.
These services in India are customized to meet the specific and basic business needs. Such as the book keeping and accounting services include weekly, bi weekly, monthly or yearly reporting services.
The basic services included in accounting services are:
- Accounting Receivables include the report on customer activities.
- It also includes customer invoicing and statements.
- Aging reports are also included in this.
- The accounts payable services include vendor activities.
- It also includes asset or equipment ledgers.
- Expenses ledger and aging repots are included.
- Vendor bill and statements are also included.
- It includes employee activity.
- Payroll reports and payroll entries come under this service.
- Employee advances are also included.
- The cash management services include cash activity like processing cash receipt and payment transactions.
- Accounts receivables and open invoices are included.
- Accounts payable unpaid bills are also included.
- Aging reports and summaries are included.
- Bank reconciliation is also included in this service.
General Ledger Maintenance
- This service is the reconciliation of all general accounts on a monthly basis.
- It includes general ledger review reports.
- Trial balance is also included.
- Income statements of profit and loss are also included.
- Balance sheet and cash flow statements are also included.
The Accounting Services for NRIs include:
- Accounting outsourcing
- Company law consultancy
- Foreign investment services
- Company formation in India