Monthly accounting package
Combining process and technology with professional expertise.
More about Monthly accounting package
What does the accounting package include?
- GST filings
- TDS filings
- Professional tax filings
- PF filings
- Payroll processing
- Quarterly returns filings (GST and TDS)
Best suited for:
- Small businesses
- Online businesses and entrepreneurs selling on ecommerce portals like Amazon, Flipkart etc.
- Freelancers and traders
Process FlowTimeline 4-6 working days
- Raise a request with us, discussion with Wazzeer team, share basic information
- Preparation of package best suited for you, review proposal and hire
- Share details and documents
- Accounting entries and preparation of financial statements
- Support in finalizing the list of payments to be made at the end of the month
- Payroll processing
- TDS amount calculation and its filings
- GST amount calculation and its filings
- PT and PF amount calculation and their filings
- Quarterly returns filings
- Revenue and expense transaction records, bank statements etc.
- Data of employees and their salary
- Accounting entries
- Financial statements for the month
- Payments to be made at the end of the month including salaries
- TDS amount and its filing
- GST amount and its filing
- PT amount and its filing
- PF amount and its filing
- Quarterly returns filings
Why choose Wazzeer?
One platform for all your requirements
Incorporation is just the first step. Wazzeer supports you throughout your journey as an entrepreneur. Log in to get things done efficiently. A dedicated Account Manager offers the required human touch and acts as an advisor to you.
Our professionals have at least 5 years of experience and have incorporated thousands of companies among them. The rich experience ensures that the process is smooth and right in the first go.
Over the last few years, doing over 500 incorporations, we have defined every step of the process. A virtual process is in place enabling us to deliver hassle free experience for you.
You pay what you see in the proposal. No surprises or hidden charges.
Frequently Asked Questions
What are the monthly tax and returns filings that a business must comply with?
What are the returns filings that need to be done?
- GST Returns: Both monthly (GSTR-3B) and quarterly (GSTR-1) returns need to be filed.GSTR-1 has to be filed every quarter
- TDS Returns: This has to be filed every quarter
Is it mandatory to do monthly accounting and bookkeeping for my company?
- The records of the company are well maintained
- For filing of taxes, the amount needs to be calculated. In the absence of bookkeeping and entries, calculation of taxes is prone to errors.
- For Private Limited Companies and other entities which meet the revenue criteria, auditing is mandatory. Bookkeeping is the process of creation of the books which are audited by the auditor. It is advisable to maintain monthly books of accounts which can be audited at the end of the financial year instead of creating the accounts in the end.
If I take Wazzeer’s monthly accounting package what all does this include?
- Bookkeeping: accounting entries and consolidated financial statements
- GST filings: calculation of GST amount and its filings
- TDS filings: calculation of TDS amount, its filings and generation for form 16 and form 16A
- PT filings: calculation of PT amount and its filings
- Payroll processing: salary structure, calculation, support in processing salaries and generation of form 16
Will you be using any software to do the monthly accounting?
I will want the accountant to visit my office. Is that possible in your package?
If I take your accounting package, can I be free from any kind of involvement in the accounting process for my company?
- Sharing of revenue and expense transaction records, bank statements etc.
- Sharing employees’ data
- Raise invoices (unless you mandate us to do this on your behalf). We will create and walk you through a very simple process for this.
- Clear payments
- Make payments or transfer funds for the applicable taxes
Do I need to do GST Filings
I have no sales or purchase in a month. Should I still file GSTR-3B?
We have collected GST from our clients/ customers. We have paid GST to our vendors for the purpose of our business. What is the GST amount that I need to Pay?
- GST has a concept of input credit. Whatever GST you pay for the purpose of your business, you can take it as input credit.
- While filing GST Returns you will have to give the details of all the Invoices you have raised against your clients/ customers and all the Bills you have received against which you have paid GST to your Vendors.
- The total GST you pay = (Sum of all the GST you have collected) - (Sum of all the GST you have paid for the purpose of your business)
What is TDS?
How do I deposit the TDS collected to Government?
I have not deducted any TDS in the month. Should I still do monthly TDS Filing?
What are Form 16 and Form 16A?
- When we deduct TDS, and file returns every quarter, IT department issues Form 16A on the name of the vendors against whom TDS is deducted. Vendors use this while filing their annual IT Returns.
- Form 16 is generated once a year on the TDS deducted against the salary of the employees. This form is used by the employees while filing their Income Tax returns.
What if I don’t deduct TDS from any of my Vendors
- IT Act makes it mandatory for a business to deduct TDS from vendors and employees. In case you don’t deduct TDS for any applicable case, then you will not be able to claim that expense in your company’s P&L statement while filing the ITR.
- This increases the profit (or reduces the loss) of the company and the applicable taxes need to be paid
What is payroll processing?
Are there any filings involved in payroll processing?
Will you provide the salary breakup for my employees if I provide the CTC for my employees?
Still have doubts?
Drop us a note with basic details. You will receive a call from us.