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No. It is not a Legal requirement to do Monthly Accounting and Bookkeeping. However, you have critical advantages of doing so
- You will know the exact financial position of the company which helps you to make strategic decisions for your comp...
W Network
caIn an early stage startup, Is it mandatory to do Monthly Accounting and Bookkeeping?
-
W Network
caNo. It is not a Legal requirement to do Monthly Accounting and Bookkeeping. However, you have critical advantages of doing so
- You will know the exact financial position of the company which helps you to make strategic decisions for your company like what should be your focus for coming months and quarters
- Statutory Audit will become very easy and you need not spend lot of your time on that during the deadline months of September-October (Festival quarter which is critical in most businesses)
However, the mandatory filings that need to be done for your company have to be completed irrespective of you doing Monthly Accounting and Bookkeeping.
In case you need any assistance in legal or accounting or secretarial services, things can be consulted and delivered seamlessly on Wazzeer platform -> "Get your Wazzeer"
over 3 years ago
View answer
In an early stage startup, Is it mandatory to do Monthly Accounting and Bookkeeping?
-
W Network
caNo. It is not a Legal requirement to do Monthly Accounting and Bookkeeping. However, you have critical advantages of doing so
- You will know the exact financial position of the company which helps you to make strategic decisions for your company like what should be your focus for coming months and quarters
- Statutory Audit will become very easy and you need not spend lot of your time on that during the deadline months of September-October (Festival quarter which is critical in most businesses)
However, the mandatory filings that need to be done for your company have to be completed irrespective of you doing Monthly Accounting and Bookkeeping.
In case you need any assistance in legal or accounting or secretarial services, things can be consulted and delivered seamlessly on Wazzeer platform -> "Get your Wazzeer"
over 3 years ago
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