What is Accounting & Bookkeeping?

Complete financial record keeping and reporting

Accounting and Bookkeeping is the systematic recording, organizing, and reporting of all financial transactions of a business. It includes maintaining day-to-day records of sales, purchases, payments, and receipts; reconciling bank statements; managing accounts receivable and payable; preparing GST-compliant invoices; and generating financial statements like Profit & Loss Account, Balance Sheet, and Cash Flow Statement.

Professional bookkeeping ensures your financial data is accurate, up-to-date, and compliant with accounting standards and tax regulations. It provides critical insights into your business performance, helps in tax planning, facilitates loan applications, and ensures audit readiness. With proper accounting, you can make informed business decisions based on real-time financial data.

Compliance Ready

Books maintained as per accounting standards. Ready for tax filing, GST audit, and statutory audits anytime.

Cash Flow Visibility

Real-time visibility into your cash position. Know exactly who owes you and whom you owe at any time.

Business Insights

Monthly MIS reports help identify trends, control costs, and improve profitability. Data-driven decisions.

Time Savings

Save 20+ hours per month by outsourcing bookkeeping. Focus on growing your business, not recording entries.

Key Features

Daily Bookkeeping

Accurate recording of all financial transactions including sales, purchases, expenses, and payments.

GST Invoicing

GST-compliant invoice generation with proper HSN codes, tax calculations, and e-invoicing readiness.

Bank Reconciliation

Monthly reconciliation of all bank accounts, credit cards, and digital wallets. Identify discrepancies.

Accounts Management

Track accounts receivable (debtors) and accounts payable (creditors). Automated payment reminders.

Software Integration

Works with Tally, Zoho Books, QuickBooks, and other popular accounting software. Smooth data sync.

Inventory Tracking

Monitor stock levels, valuation, and movement. Integrated with sales and purchase records.

Important to Know

Why professional bookkeeping matters:

  • GST Compliance: Accurate books ensure correct GST returns and input tax credit claims
  • Tax Planning: Proper accounting helps identify deductions and optimize tax liability
  • Funding Ready: Organized financials are essential for bank loans and investor pitches
  • Audit Preparation: Be ready for statutory, tax, or internal audits anytime
  • Legal Requirement: Companies Act mandates proper books maintenance for all companies

Who Needs Accounting Services?

Businesses that benefit from professional bookkeeping

Startups & SMEs

Growing businesses that need professional accounting without hiring full-time accountants.

Multi-Location Businesses

Companies with operations across cities needing consolidated financial reporting.

E-commerce Sellers

Online sellers dealing with high transaction volumes across multiple platforms.

Trading Businesses

Importers, exporters, and traders requiring inventory and cash flow management.

Service Providers

Consultants, agencies, and service firms needing project-wise profitability tracking.

Pre-Funding Companies

Startups preparing for investment rounds requiring investor-grade financials.

Transaction Volume Guidelines

  • Starter Plan: Up to 100/month
  • Growth Plan: Up to 500/month
  • Enterprise Plan: Unlimited
  • GST Registration: Recommended
  • Bank Account: Mandatory
  • Invoicing: Required

Documents Required for Bookkeeping

Keep these documents ready for smooth accounting

Monthly Documents

  • Bank Statements All business bank account statements for the month
  • Sales Invoices All invoices issued to customers during the month
  • Purchase Bills All purchase invoices and bills received
  • Expense Receipts Bills for rent, utilities, travel, and other expenses
  • Payment Vouchers Records of cash payments and advances

Company Setup Documents

One-time documents needed for initial setup

Company Registration

  • Certificate of Incorporation
  • PAN Card of Company
  • GST Registration Certificate
  • Bank Account Details

Previous Financials

  • Opening balance sheet
  • Previous year P&L account
  • Trial balance
  • Fixed assets register

Accounting Policies

  • Financial year details
  • Depreciation method
  • Inventory valuation method
  • Revenue recognition policy

Tips for Efficient Bookkeeping

Share documents weekly rather than monthly for faster processing
Ensure all invoices have proper GST numbers and HSN codes
Maintain separate business and personal bank accounts
Keep digital copies of all bills and receipts for 8 years

Monthly Document Checklist

Income Documents
  • Sales invoices
  • Cash receipts
  • Bank credit entries
  • GST collection details
Expense Documents
  • Purchase bills
  • Utility bills
  • Travel & conveyance
  • Salary payments

Our Accounting Process

Step-by-step professional bookkeeping

1

Initial Setup & Migration

We set up your accounting system, import opening balances, and configure chart of accounts.

  • Create company profile in accounting software
  • Set up chart of accounts and ledgers
  • Import opening balances and previous data
2

Document Collection

We collect all financial documents through secure channels - bank statements, invoices, bills, and receipts.

  • Collect bank statements and transaction details
  • Gather sales and purchase invoices
  • Compile expense bills and payment vouchers
Documents can be shared via email, cloud storage, or mobile app.
3

Transaction Recording

Our accountants record all transactions in the accounting software with proper categorization and narration.

  • Record sales and purchase entries
  • Post bank and cash transactions
  • Account for journal adjustments
4

Bank Reconciliation

We reconcile all bank accounts to ensure recorded transactions match bank statements.

  • Match transactions with bank statement
  • Identify and resolve discrepancies
  • Record bank charges and interest
5

GST Compliance

We ensure all invoices are GST-compliant and reconcile GST input/output for return filing.

  • Verify GST on all invoices
  • Reconcile GSTR-2B with purchase register
  • Prepare GST reconciliation statement
6

Reporting & Review

We generate monthly financial reports and conduct review meetings to discuss business performance.

  • Prepare P&L, Balance Sheet, Cash Flow
  • Generate MIS and management reports
  • Conduct monthly review meeting
Total Processing Time
48-72 Hours

Monthly bookkeeping completion time from document receipt to report delivery. May vary based on transaction volume.

Important to Know

Important Accounting Principles
  • Accrual Basis: Record income when earned, expenses when incurred
  • Consistency: Same accounting policies followed across periods
  • Materiality: Significant transactions reported accurately
  • Document Retention: Maintain records for minimum 8 years
  • Monthly Closure: Books closed within 10 days of month-end
  • Year-End: Financial statements prepared within 3 months of FY end

Frequently Asked Questions

What is included in your accounting and bookkeeping services?

Our comprehensive accounting services include: 1) Daily/regular transaction recording in accounting software, 2) Bank reconciliation for all business accounts, 3) Accounts receivable and payable management, 4) GST-compliant invoice generation, 5) Inventory tracking and valuation, 6) Monthly Profit & Loss Account preparation, 7) Balance Sheet generation, 8) Cash Flow Statement, 9) Debtors and Creditors ageing reports, 10) Expense categorization and analysis, 11) Fixed assets register maintenance, 12) Monthly MIS reports, 13) Year-end financial statements, 14) Audit support and documentation.

Which accounting software do you use?

We are proficient in all major accounting software including: Tally ERP 9 / Tally Prime (most popular in India), Zoho Books (cloud-based with GST features), QuickBooks Online, Marg ERP, Busy Accounting, and Reach Accounting. We can work with your existing software or recommend the best fit based on your business size and requirements. For cloud-based software like Zoho Books, we provide 24/7 access to your books from anywhere. Data migration from your current system is included in our service.

How do you ensure data security and confidentiality?

We implement multiple security measures: 1) All data transmitted via encrypted channels (256-bit SSL), 2) Access limited to authorized accountants only, 3) Signed NDAs with all team members, 4) Data stored in ISO 27001 certified cloud servers, 5) Regular automated backups, 6) Two-factor authentication for software access, 7) Activity logging for audit trail, 8) No data sharing with third parties, 9) Secure document destruction protocols, 10) Compliance with data privacy regulations. Your financial data is treated with the highest level of confidentiality and security.

How often will I receive financial reports?

Our standard reporting schedule includes: Weekly - Bank reconciliation status and cash position (optional); Monthly - Complete financial package delivered within 48-72 hours of month-end including P&L Account, Balance Sheet, Cash Flow Statement, Debtors/Creditors ageing, Bank reconciliation statement, GST summary, Expense analysis, and MIS report; Quarterly - Management review meeting with trend analysis; Annually - Complete financial statements for year-end, Tax computation sheets, and Audit support documentation. Custom reporting schedules can be arranged based on your specific needs.

Can you help with GST return filing?

Yes, our accounting services include complete GST support: We ensure all your sales invoices are GST-compliant with correct HSN codes and tax rates; We verify and record all purchase invoices with proper input tax credit (ITC) claims; We reconcile your books with GSTR-2B for accurate ITC; We prepare GSTR-1 (outward supplies) and GSTR-3B data from your books; We identify and resolve any GST mismatches; While base bookkeeping packages include GST-ready data, actual return filing can be added as a separate service. Our integrated approach ensures your GST returns are always accurate and backed by proper documentation.

What happens during year-end and audit time?

During year-end, we: 1) Prepare final books of accounts for the financial year, 2) Calculate depreciation on fixed assets, 3) Account for provisions and accruals, 4) Reconcile all ledger balances, 5) Prepare final Profit & Loss Account and Balance Sheet, 6) Generate schedules and notes to accounts, 7) Create audit trail documentation, 8) Prepare tax computation sheets. For audits, we provide complete support including direct coordination with auditors, providing all required documents and explanations, preparing audit schedules and confirmations, assisting with audit queries, and ensuring timely completion of audit and tax filing.

How do I share documents with your team?

We offer multiple convenient document sharing options: Email - Send scanned copies or photos of documents; Cloud Storage - Share via Google Drive, Dropbox, or OneDrive; Mobile App - Upload documents directly through our client portal app; WhatsApp - Quick sharing for urgent documents; Courier - Physical document pickup available in select cities; Direct Software Integration - Automatic sync for supported accounting software. We recommend digitizing all documents for faster processing. Our team organizes all documents systematically with proper indexing for easy retrieval.

Do you provide accounting for e-commerce businesses?

Yes, we specialize in e-commerce accounting with expertise in: Multi-platform integration (Amazon, Flipkart, Meesho, Shopify, WooCommerce); Payment gateway reconciliation (Razorpay, PayU, Stripe, etc.); Return and refund accounting; Marketplace fee tracking and analysis; Inventory management across platforms; TCS compliance for e-commerce operators; GST e-invoice compliance; Sales channel-wise profitability analysis; Ad spend tracking (Amazon Ads, Google Ads, Facebook); Settlement reconciliation. We understand the unique challenges of e-commerce accounting including high transaction volumes, multiple payment modes, and complex return scenarios.

Can you handle accounting for multiple branches?

Absolutely. Our multi-branch accounting services include: Separate books for each branch with inter-branch transaction recording; Consolidated financial statements across all locations; Branch-wise profitability analysis; Inter-branch fund transfer tracking; Centralized purchase and distributed sales accounting; Inventory transfer recording; Location-wise GST compliance; Combined MIS reports with drill-down to branch level; Standardized accounting policies across branches; Cross-branch debtor/creditor management. Whether you have 2 branches or 20, we can streamline your accounting with centralized oversight and local execution.

What is the difference between bookkeeping and accounting?

Bookkeeping is the recording of daily financial transactions - the foundation of the accounting process. It involves: Recording sales and purchases, Posting debits and credits, Maintaining ledgers, Bank reconciliation, Invoice processing. Accounting is broader and includes: Interpreting financial data, Preparing financial statements, Analyzing business performance, Tax planning, Audit preparation, Management reporting. Our services cover both - we do the daily bookkeeping AND provide the strategic accounting insights you need to run your business effectively. You get the complete financial picture, not just data entry.

How do you price your accounting services?

Our pricing is based on monthly transaction volume: Starter (₹4,999/month) - Up to 100 transactions, ideal for small businesses and startups; Growth (₹9,999/month) - Up to 500 transactions, perfect for growing businesses; Enterprise (₹19,999/month) - Unlimited transactions for established businesses. A transaction includes any financial entry - sales invoice, purchase bill, payment, receipt, journal entry. We count transactions after a trial month to give accurate pricing. There are no hidden charges - software subscription, reports, email support, and basic consultation are all included. Annual payments receive 10% discount.

Can you help me switch from my current accountant?

Yes, we make transitions smooth and hassle-free: 1) We review your current books and identify any gaps; 2) Import all opening balances and master data; 3) Reconcile all bank accounts and ledgers; 4) Set up the new accounting system with proper configuration; 5) Train your team on document sharing processes; 6) Run parallel for a month to ensure accuracy; 7) Take over complete accounting from agreed date. We coordinate with your previous accountant for handover and ensure no data is lost. Most transitions are completed within 1-2 weeks with minimal disruption to your business.

Still Have Questions?

Our accounting experts are here to help. Get personalized guidance for your bookkeeping needs.

Why Choose WeeDoo for Accounting?

We offer reliable, accurate, and professional accounting services

Fast Turnaround

Monthly books closed within 48-72 hours. Financial reports delivered on time, every time.

CA Supervised

All work reviewed by qualified Chartered Accountants. Audit-ready books guaranteed.

Industry Experts

Specialized teams for retail, manufacturing, services, and e-commerce businesses.

Data Security

Bank-grade encryption and strict confidentiality. Your financial data is completely secure.

Transparent Pricing

No hidden charges. Clear monthly pricing based on transaction volume. Scale up or down anytime.

Proactive Support

Regular review meetings and insights. We don't just record - we help you understand your numbers.

Ready to Organize Your Books?

Join 2,000+ businesses with professional accounting

Rahul Jha
Rahul Jha
CEO, WeeDoo.in
"Good accounting is the foundation of good business decisions. At WeeDoo, we don't just record your transactions - we help you understand your financial story and make informed decisions for growth."