Accounting
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What is Accounting
Overview
"Accounting" simply means "summarizing and maintaining financial records" per year. Accounting and Bookkeeping can be divided into various areas like financial accounting, chartered accountant, professional accounting, managing general accounting, tax accounting, auditing, and cost accounting.
Every business has to maintain their account every financial year. All organizations are expected to show their records to the Income Tax (IT) Department. Positively, keeping up the books in-house is a costly issue, and finishing it with online measures is a much more comfortable and better way.
Online Accountants can manage more advanced tasks and use advanced software to perform their work and maintain accounts. This process can be made easy with the support of MeraLegal accounting online service, with us, you can manage your accounts with simplicity.
Why Online Accounting ?
- Keeping up the books in-house successfully is a costly affair.
- Finishing it with online measures is a much more comfortable and better way.
- Accountants can manage more advanced tasks and use comprehensive software to perform their work and maintain accounts. This process can be made simple with the support of MeraLegal accounting online service, with us, you can manage your accounts with simplicity.
Process For Accounting Services Online
- Step 1 - Send your accounting book to MeraLegal
- Step 2 - We will analyze your book
- Step 3 – As early as the entries are done, the tally sheet will be sent to you for confirmation.
- Step 4 – We will prepare the balance sheet.
- Step 5 – As early as it is completed, the final copy will be sent to you.
Benifits of Online Accounting
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Cost-effective
Using online accounting solutions will be more cost-effective rather than wasting a majority of the amount on an accountant.
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Less time consuming
Accounting and calculation can be performed within a fraction of seconds, which can be more beneficial than calculating the accounts manually.
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User-friendly
You can make yourself aware of each and everything present in it, and you will not find any trouble doing accounting services with MeraLegal.
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Statistics
You will be informed of the profits and losses in your business with the help of statistics and analysis done every year.
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Works as Financial Data Proof
It can be useful when you are ready to ask for funds or Bank loans, where you need to give your accounting procedure in brief.
Frequently Asked Questions ?
You should employ an accountant as early as you start your business, and this reduces error and stress from the beginning.
No,You can be able to maintain 100% control of all decisions, and you always sign all checks. You choose what and when merchants get paid.
MeraLegal is one of India's leading online service providers to help organizations to receive bookkeeping services in India.
Books of accounts consist of a Journal, a Trial Balance, a Ledger book, Balance Sheet, True & carbon copies of all receipts & invoices, Cash Book, Profit, and Loss A/c, and Cash Flow Statements.
No, it is important to make books keeping in any situation, even if you have profits or losses. As you indulge in financial transactions, you need to record the same. Another primary reason for maintaining books of accounts in the loss years is that you can file income tax returns for the same and claim the compensation of setting off losses in the future years of profit.
All different types of accountants are as follows: Auditors, Controllers, Forensic Accountants, Tax accountants, Bookkeepers, etc.
Yes, it is important to create a book for every business. The online accounting process is also performed for small business accounting.
