Bookkeeping | Online Legal Mitra
Online Legal Mitra
Guided Online Filing Support

Bookkeeping

Get your bookkeeping done quickly with professional assistance

Pricing tailored to your specific requirements — get a free quote.

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Fractional Accountant Services

Professional accountant services for GST, Income Tax, and ROC filings to keep your business compliant and financially healthy.

  • GST Return Filing Support
  • Income Tax Filing
  • ROC Compliance Filing
  • Bookkeeping & Accounts Management
  • Dedicated Accountant
  • LEDGERS Accounting Software
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Service Overview

About this Service

Overview of Bookkeeping and Accounting Services

Professional bookkeeping services involve systematic recording of financial transactions, maintaining ledgers, reconciling bank statements, and preparing financial reports in compliance with accounting standards. Accurate bookkeeping is foundational for tax compliance, management decision-making, and investor reporting. Services range from basic data entry to comprehensive management accounting and financial analysis.

Core bookkeeping functions include recording sales and purchase invoices, maintaining cash and bank books, accounts receivable/payable management, payroll processing, inventory tracking, and preparation of trial balances. Advanced services include budgeting, variance analysis, cash flow forecasting, and financial statement preparation as per Ind AS or AS applicable to the entity.

Technology-enabled bookkeeping utilizes accounting software (Tally, Zoho Books, QuickBooks) for real-time reporting, automated bank feeds, and GST reconciliation. Proper bookkeeping ensures audit readiness, facilitates tax filing, and provides insights into business profitability and liquidity. Documentation retention as per statutory requirements (8 years for tax purposes) is included in professional services.

Who Should Opt for This Service?

  • Startups requiring organized financial records for investor due diligence
  • SMEs without in-house accounting departments
  • Businesses preparing for tax audits or statutory audits
  • Companies seeking to streamline accounts payable/receivable processes
  • Entities requiring management reports for decision-making
  • Businesses transitioning from manual to computerized accounting

Note: Proper bookkeeping requires supporting documentation for all entries; inadequate documentation can lead to tax disallowances and audit qualifications.

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Checklist

Documents You'll Need

Keep these documents handy — our team will guide you through every submission.

PAN Card

Required

PAN Card of the applicant/directors

Aadhaar Card

Required

Aadhaar Card for identity verification

Address Proof

Required

Utility bill or bank statement

Photograph

Required

Recent passport size photograph

Business Address Proof

Optional

Rental agreement or utility bill

Good to know: Accepted formats are PDF, JPG, PNG (max 5MB per file). Please self-attest all identity proofs — our team verifies every document before filing.

Who It's For

Who Should Opt For This?

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Growing SMEs

Small and medium enterprises needing systematic recording of financial transactions.

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Audit Preparation

Businesses preparing books for statutory audit and tax assessment.

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GST Reconcilers

Taxpayers maintaining books to reconcile with GST returns.

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Loan Applicants

Businesses preparing financial statements for bank loan applications.

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Expense Trackers

Businesses tracking payables, receivables, and cash flow.

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Tax Optimizers

Entities maintaining records to claim all eligible deductions.

Process

How It Works

A transparent, step-by-step journey from your first call to completed filing.

  1. 1

    Document Collection

    2-3 days

    Gather invoices, receipts, and bank statements.

  2. 2

    Data Entry

    5-7 days

    Record transactions in accounting software.

  3. 3

    Bank Reconciliation

    2-3 days

    Reconcile bank statements with books.

  4. 4

    Ledger Scrutiny

    2-3 days

    Review ledgers for accuracy and classification.

  5. 5

    Report Generation

    1-2 days

    Generate trial balance and financial reports.

Free Expert Consultation

Need Help with Bookkeeping?

Talk to our senior legal experts for free. Get clarity on documents, eligibility, and the entire process — no charges, no commitment.

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FAQs

Frequently Asked Questions

Everything you need to know about the service, timelines, and requirements.

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Bookkeeping is the systematic recording of financial transactions including sales, purchases, receipts, and payments. It provides the foundation for financial reporting, tax compliance, business decision-making, and audit readiness. Proper bookkeeping ensures accurate financial statements and legal compliance.

The two main methods are Single-Entry (simple, cash-based, suitable for small businesses) and Double-Entry (comprehensive, accrual-based, recording both debit and credit aspects of each transaction). Double-entry is the standard for businesses requiring tax audit or statutory compliance.

Businesses must maintain Cash Book (cash receipts and payments), Journal (general entries), Ledger (account-wise records), Sales Register, Purchase Register, Bank Book, Fixed Assets Register, Stock Register, and Expense Vouchers. Digital records are acceptable if they meet integrity requirements.

Yes, the Income Tax Act and Companies Act accept digital books of accounts if they are properly maintained, backed up, and can be reproduced when required. Businesses must ensure data integrity, authentication, and preservation for the required period (8 years for tax purposes).

Bookkeeping is the recording of transactions (data entry). Accounting includes bookkeeping plus interpretation, classification, analysis, and summarization of financial data to prepare financial statements and provide insights for decision-making.

Under the Income Tax Act, books must be maintained for 6 years from the end of the relevant assessment year (total 7-8 years). Under the Companies Act, records must be preserved for 8 years. Some industry-specific regulations may require longer retention.

Common mistakes include mixing personal and business expenses, failing to reconcile bank statements, not recording cash transactions, incorrect expense classification, delayed recording, lack of backup for digital records, and not maintaining supporting documents (invoices, receipts).

While small businesses can maintain books themselves using accounting software, hiring professionals ensures accuracy, compliance with tax laws, proper categorization for tax benefits, and readiness for audits. As business grows, professional bookkeeping becomes essential.

Popular options include Tally ERP 9/Prime (widely used in India), Zoho Books, QuickBooks, Marg ERP, Busy Accounting Software, and ClearTax GST. Cloud-based solutions offer advantages of accessibility and automatic backups.

Supporting documents include sales invoices, purchase bills, bank statements, cash vouchers, expense receipts, contracts, payroll records, GST returns, TDS certificates, and correspondence. These documents must be organized and preserved for verification during audits.

Need a Custom Solution?

Get in touch for a tailored Bookkeeping solution designed around your specific requirements.

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