What is Accounting
The basic meaning of “Accounting” is “maintaining financial accounts” per year. Bookkeeping and Accounting can be divided into several fields including financial accounting, managing general accounting,professional accounting, chartered accountant, auditing, tax accounting and cost accounting.
Every business needs to maintain their account every financial year. All organizations are required to present their records to the Income Tax (IT) Department. Keeping up the books in-house positively is a costly issue, and completing it with online measures is much more easy and better way.
Accountants can handle more advanced tasks and they use advanced software to complete their work and maintain records.
This process can be made easy with the help of LegalDocs accounting online service, with us you can handle your accounts with ease.
Why Online Accounting
- Keeping up the books in-house positively is a costly issue.
- Completing it with online measures is much more easy and better way.
- Accountants can handle more advanced tasks and they use advanced software to complete their work and maintain records. This process can be made easy with the help of LegalDocs accounting online service, with us you can handle your accounts with ease.
Process for Accounting Services Online
Send your accounting book to LegalDocs
We will analyze your book
As soon as the entries are made, the tally sheet will be sent to you for verification.
The balance sheet will be prepared from our side.
As soon as it is completed the finalized copy will be sent to you.
Benefits of Accounting Online
Utilizing accounting online solutions will be surely more cost efficient rather than spending a bulk of amount on an accountant.
Less time consuming
The calculation and accounting can be done within the fraction of seconds which can be a better than calculating the accounts manually.
You can make yourself aware of each and everything present in it, you will not find any difficulty while accounting services with LegalDocs.
You will be aware of the profits and loss in your business with the help of statistics and analysis done every year.
Works as financial data proof
It can be helpful when you will ready to ask for funds or loan, where you need to provide your accounting procedure in detail.
You should hire an accountant as soon as you begin your business. This reduces mistakes and stress from the starting.
No, You will always maintain 100% control of all decisions and all checks will still be signed by you. You choose what merchants get paid and when.
LegalDocs is one of the leading online service providers to help establishments to receive bookkeeping services in India.
Books of accounts comprise of a Journal, a Ledger book, a Trial Balance, Original and carbon copies of bills/invoices/receipts /, Cash Book, Profit and Loss A/c, Balance Sheet and Cash Flow Statements.
No, it is necessary to make books in any case, even if you have profits or losses. As long as you are entering into financial transactions, you need to record the same. Another reason for maintaining books of accounts in the years of losses is that you can file income tax returns for the same and claim the benefit of setting off losses in the future years of profit.
There are different types of accountants such as Auditors, Forensic Accountants, Controllers, Bookkeepers, Tax accountants etc.
Yes it is necessary to create book for every business, online accounting process is also for small business accounting.