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Bookkeeping Services in India – Daily Transaction Recording, Bank & Vendor Reconciliation, GST / TDS Posting, Payroll, AR / AP, MIS & Year-End Closing on Tally / Zoho Books / QuickBooks / Xero / SAP under Section 128 Companies Act 2013 & Income-Tax Act 1961
Bookkeeping is the systematic recording, classifying, and reconciling of every business transaction — sales, purchases, receipts, payments, payroll, and journals — into the company's books of account. Under Section 128 of the Companies Act 2013 and Section 44AA of the Income-Tax Act 1961, every company and most businesses crossing prescribed turnover / income thresholds are required to maintain books of account on an accrual basis using the double-entry system at the registered office (or any other notified place) for a minimum of 8 financial years.
Modern bookkeeping is delivered through cloud + desktop platforms — Tally Prime, Zoho Books, QuickBooks, Xero, SAP B1, and Marg — integrated with bank feeds, GSTN, e-invoicing portal, and payroll systems. Clean books are the bedrock of GST, TDS, income-tax, statutory audit, investor diligence, and MIS-driven decision-making. Our bookkeeping services cover daily transaction posting, bank / vendor / customer reconciliation, GST / TDS workings, payroll JVs, fixed-asset register, AR / AP ageing, monthly MIS, and year-end finalisation — for proprietorships, LLPs, private and public companies across all industries.
Sec 128
Books of Account, Co Act 2013
8 Years
Mandatory Retention Period
Double-Entry
Accrual Basis
6+ Platforms
Tally / Zoho / QB / Xero / SAP
Laws & Standards We Work With
Companies Act 2013
Sec 128 – Books
Sec 129 – Financials
Schedule III
Income-Tax Act 1961
Sec 44AA – Books
Sec 44AB – Tax Audit
CGST Act 2017
Sec 35 – GST Records
AS / Ind-AS
ICDS
Tally / Zoho / QB
Xero / SAP / Marg
e-Invoicing / e-Way Bill
Bookkeeping Service Buckets We Handle
Daily / Monthly
Transaction Posting
Daily / weekly / monthly recording of sales, purchase, receipt, payment, journal, and contra entries — voucher-wise capture in Tally / Zoho Books / QuickBooks with GST & TDS tagging.
- Sales & purchase
- Receipts & payments
- Journal & contra
- GST tagging
- TDS tagging
- Cost-centre & project
Reconciliation
Bank, Vendor & Customer Recon
Monthly bank reconciliation, vendor / customer ledger reconciliation, GSTR-2B vs purchase, GSTR-1 vs sales, TDS 26AS vs books, and inter-company reconciliations.
- Bank recon (BRS)
- Vendor & customer ledger
- GSTR-2B vs books
- 26AS vs TDS
- Inter-company recon
- Credit-card / wallet recon
Payables / Receivables
AR / AP Management
Vendor bill booking, GRN / PO match, payment scheduling, expense approval workflow, customer invoicing, ageing analysis, collection follow-up, and DSO / DPO tracking.
- Vendor bill booking
- 3-way match (PO / GRN / Inv)
- Payment runs
- Customer invoicing
- AR / AP ageing
- DSO / DPO MIS
Payroll
Payroll & Employee Books
Monthly payroll JV, salary register, EPF / ESI / PT / TDS challans, Form 16 / 12BB / 24Q, full-and-final settlement, and reimbursement / advance ledgers.
- Salary JV
- EPF / ESI / PT / TDS
- Form 16 / 12BB / 24Q
- Reimbursement ledger
- F&F settlement
- Loan / advance tracking
Fixed Assets
Fixed-Asset Register
Asset master with location / custodian / barcode, capitalisation entries, depreciation (Sch II / Sec 32), additions / disposals, impairment, and physical verification reconciliation.
- Asset master & tagging
- Capitalisation
- Depreciation (Sch II / Sec 32)
- Additions / disposals
- Impairment / WDV
- Physical verification
Inventory
Inventory & Stock
Stock-item master, batch / serial / godown, GRN / delivery, inter-godown transfer, stock valuation (FIFO / Weighted Avg), physical-stock reconciliation, and inventory MIS.
- Item master & HSN
- Batch / serial / godown
- GRN / DC
- FIFO / WAC valuation
- Physical recon
- Inventory ageing
MIS
Monthly MIS & Dashboards
Monthly P&L, balance sheet, cash flow, AR / AP ageing, working-capital cycle, GST liability, TDS payable, and customised dashboards for promoters / CFOs / boards.
- P&L / BS / CF
- Variance vs budget
- Working-capital cycle
- Department / cost-centre
- GST & TDS dashboard
- Board-pack quality
Year-End
Year-End Finalisation
Year-end provisions, prepaid / accruals, depreciation run, deferred tax, schedule-III mapping, audit schedules, financial statements, and handover to statutory / tax auditor.
- Provisions & accruals
- Prepaid / deferred
- Depreciation run
- Schedule-III BS / P&L
- Audit schedules
- Auditor handover
Key Concepts in Bookkeeping
Sec 128
Books of Account
Every company must keep proper books of account on an accrual basis and double-entry system at the registered office (or any other notified place) — kept for at least 8 financial years.
Accrual
8 Years
Double-Entry
Debit = Credit
Every transaction has equal debit and credit entries; assets / expenses are debited and liabilities / income are credited — keeps the trial balance & balance sheet always in balance.
Dr = Cr
Trial Balance
Sec 44AA
IT Books Threshold
Income-tax law mandates books for businesses crossing income or turnover thresholds (₹1.2 lakh income / ₹10 lakh turnover for non-specified, lower for specified professions).
Income / TO
Sec 44AA
Sec 44AB
Tax Audit Trigger
Tax audit applies above ₹1 cr business turnover (₹10 cr if cash transactions ≤ 5%) or ₹50 lakh professional gross receipts — books must support 3CA / 3CD reporting.
₹1 Cr / ₹10 Cr
3CA / 3CD
GST Sec 35
GST Records
Mandatory registers — sales, purchase, stock, input tax credit, output tax — kept at every place of business for at least 72 months from the due date of the annual return.
72 Months
Place-Wise
Schedule III
Statement Format
Companies Act prescribes the format of Balance Sheet and P&L through Schedule III — divisions for current / non-current, expense classification, and notes structure.
BS / P&L
Disclosure
AS / Ind-AS
Accounting Standards
Indian Accounting Standards (Ind-AS) for listed and large unlisted companies; Accounting Standards (AS) for others — govern recognition, measurement, and disclosure.
Ind-AS
AS
Audit Trail
Edit Log Mandate
From 1 April 2023, every company using accounting software must use software with an audit trail (edit log) feature, recording every change with timestamp — disclosed in audit report.
Edit Log
FY 2023-24+
Our Bookkeeping Services
Cloud Bookkeeping
End-to-end remote bookkeeping on Zoho Books, QuickBooks, Xero, or Tally on Cloud — voucher posting, bill capture, OCR scanning, and approval workflows.
Tally Prime / SAP B1
Desktop / on-prem bookkeeping on Tally Prime, SAP B1, or Marg — multi-company, multi-godown, batch / serial inventory, GST / e-invoice, and audit-trail compliance.
GST & TDS Posting
Tax-tagged voucher entry, GSTR-1 / 3B / 9 working files, GSTR-2B reconciliation, RCM entries, TDS Sec 194 ledger, 26Q / 24Q workings, and quarterly returns.
Bank & Recon
Bank-feed integration, daily / weekly bank reconciliation, multi-bank consolidation, FX revaluation for foreign accounts, and BRS sign-off file.
AR / AP Management
Vendor bill booking with PO / GRN match, customer invoicing & e-invoicing, ageing analysis, payment runs, dunning workflow, and DSO / DPO MIS.
Payroll Booking
Salary register, payroll JV, EPF / ESI / PT / TDS challans, Form 16 / 12BB / 24Q, reimbursements, advances / loans, and F&F settlement entries.
Fixed-Asset Register
Block-wise asset master, capitalisation, depreciation (Sch II / Sec 32), additions / disposals / impairment, physical-verification reconciliation.
Inventory Management
Multi-godown inventory, batch / serial / FIFO / WAC valuation, GRN / DC, inter-godown transfer, physical-stock recon, and slow-moving / non-moving MIS.
Monthly MIS & Dashboards
Monthly P&L / BS / CF, working-capital cycle, GST & TDS dashboards, KPI reporting, board-quality MIS pack, and budget-vs-actual variance.
Year-End Finalisation
Provisions / accruals / prepaid / deferred entries, depreciation run, schedule-III mapping, audit schedules, draft financials, and statutory-auditor handover.
Migration & Setup
Chart of accounts design, opening balance migration, Tally → Zoho / QB migration, masters cleanup, GST / TDS configuration, and audit-trail enablement.
Backlog & Catch-Up
Multi-month / multi-year backlog clearing, opening balance build, GST / TDS reconciliations, missing voucher reconstruction, and audit-readiness.
When You Need Bookkeeping Support
Just Started a Business
Set up chart of accounts, software, opening balance, GST / TDS configuration, and policies from Day-1 to avoid expensive cleanups later.
Crossed Sec 44AB Threshold
Crossed ₹1 cr / ₹10 cr / ₹50 lakh threshold — tax audit triggered; books must support 3CA / 3CD with reconciliations and ledger schedules.
Backlog of 3-6 Months
Books not posted for several months — GST returns filed but books unmatched; structured catch-up with reconciliation pack.
Statutory Audit Notice
Auditor demanding ledger schedules, BRS, GST / TDS reconciliation, depreciation working — gap-cure and audit-pack delivery.
Investor / Lender Diligence
VC / PE / lender / acquirer asking for last 3 years of P&L / BS / CF, GST recon, TDS recon — diligence-grade clean-up.
Software Migration
Migrating from Tally to Zoho / QuickBooks / Xero / SAP — chart-of-accounts redesign, opening-balance carry, masters cleanup, and parallel run.
In-House Accountant Left
Bookkeeper / accountant resigned — handover bridge, immediate continuity, knowledge transfer, and ongoing retainer setup.
Branch / Multi-Entity
Multi-branch / multi-entity / multi-state operations — consolidation, inter-branch / inter-company recon, GSTIN-wise books, and group MIS.
Documents Needed for Bookkeeping
Sales / Purchase
- Sales invoices / e-invoices
- Purchase bills / vendor invoices
- Debit / credit notes
- POs / GRNs / DCs
- HSN / SAC list
- e-Way Bills
- Customer / vendor master
Bank / Cash / Tax
- Bank statements (all accounts)
- Cheque / RTGS / NEFT advices
- Credit-card / wallet statements
- Cash book / petty-cash vouchers
- GST returns + GSTR-2B
- TDS challans + 26AS
- Loan EMI schedule
Payroll / Assets / Other
- Salary sheet / register
- EPF / ESI / PT challans
- Asset purchase invoices
- Asset disposal documents
- Stock register / valuation
- Last year's audited financials
- Last year's tally / books backup
Our Bookkeeping Engagement Process
1
Onboarding & Setup
Software selection, chart of accounts, opening balance, master setup, GST / TDS config, audit-trail enablement, and SOP documentation.
2
Daily / Weekly Posting
Voucher posting, bank-feed import, GRN / PO match, GST / TDS tagging, expense approvals, and exception logging.
3
Monthly Closure
BRS, vendor / customer recon, GSTR-2B match, TDS recon, payroll JV, depreciation, accruals, and provisional MIS.
4
MIS & Review
P&L / BS / CF / ageing pack, KPI dashboard, variance vs budget, board-quality MIS, and CFO review call.
5
Year-End & Audit Handover
Year-end provisions, schedule-III mapping, audit schedules, draft financials, auditor handover, and FY rollover.
Why Choose Us for Bookkeeping
✓
Tally / Zoho / QB / Xero certified
✓
Audit-trail compliant (FY 2023-24+)
✓
CA / CMA-led review
✓
Monthly MIS by 10th
✓
GST / TDS tagged from voucher level
✓
Backlog cleanup specialists
✓
Audit-ready year-end pack
✓
Multi-entity consolidation
FAQs on Bookkeeping
What is bookkeeping?
The systematic recording, classifying, and reconciling of every business transaction in the books of account.
Is bookkeeping mandatory in India?
Yes — under Section 128 of the Companies Act 2013 and Section 44AA of the Income-Tax Act 1961 for all entities crossing prescribed thresholds.
What is the double-entry system?
A method where every transaction has equal and corresponding debit and credit entries in two or more accounts.
How long must books be kept?
For at least eight financial years immediately preceding the current year under the Companies Act 2013.
Which software do you use?
Tally Prime, Zoho Books, QuickBooks, Xero, SAP Business One, Marg, and other client-preferred platforms.
What is the audit-trail (edit-log) requirement?
From 1 April 2023, companies must use accounting software that records every change with date and timestamp.
Can bookkeeping be done remotely?
Yes — we deliver fully remote bookkeeping through cloud platforms with bank-feed and document-share workflows.
What is bank reconciliation?
The matching of bank-statement entries with the bank book to identify and correct differences.
Do you handle backlog accounting?
Yes — we clear multi-month or multi-year backlog with structured posting, reconciliation, and audit readiness.
What MIS reports do you provide?
Monthly P&L, balance sheet, cash flow, AR / AP ageing, GST / TDS dashboards, and budget-vs-actual variance.
Books Clean. Reconciliations Done. MIS by the 10th.
Partner with our bookkeeping team for end-to-end accounting on Tally / Zoho / QB / Xero / SAP — daily posting, monthly reconciliation, audit-ready year-end pack for FY 2026–27.
Talk to a Bookkeeping Expert