Monitoring debtors and creditors ensures timely cash flow by tracking payments due from customers and payments owed to suppliers, maintaining financial stability.
Monitoring of TDS transactions and expenses involves tracking and recording Tax Deducted at Source (TDS) on payments made and received, ensuring compliance with tax regulations, and timely filing of TDS returns. It helps in maintaining accurate financial records and avoiding penalties.
Bookkeeping of expenses and payments involves systematically recording all business costs and payments made, including purchases, bills, wages, and other operational expenses. This helps in tracking cash flow, managing budgets, and ensuring accurate financial reporting.
Bookkeeping of sales and receipts involves recording all income generated from sales and services, along with tracking customer payments received. This helps in monitoring revenue, managing accounts receivable, and ensuring accurate financial statements.
Correlating receipts with invoices involves matching payments received to the corresponding invoices raised, ensuring accurate record-keeping and timely reconciliation of accounts.
TDS (Tax Deducted at Source) calculations involve deducting tax from employees' salaries based on applicable income tax slabs and exemptions, and ensuring timely payment of the deducted amount to the government.
TDS filing for employees involves submitting quarterly returns (Form 24Q) to the government, detailing the tax deducted from employees' salaries and ensuring accurate compliance with tax regulations.
ROC Filing through AOC-4 involves submitting the company’s financial statements, including the balance sheet, profit & loss account, and other necessary documents, to the Registrar of Companies annually, ensuring legal compliance under the Companies Act
A tax audit is an examination of a company's or individual's financial records and returns to verify the accuracy of income, deductions, and tax liability as per the Income Tax Act, typically conducted under Section 44AB