Many small businesses in Kolkata keep a bag of bills all year and hand it to the accountant in June or July. It feels cheaper, but it usually costs more.
Problems with year-end accounting
- Missed input tax credit. If purchase bills are not checked every month, credit that your supplier never reported is found too late to fix.
- Wrong GST returns. Returns filed from rough figures do not match the final books, which leads to notices.
- No idea of profit. You only learn how the year went once it is over.
- Last-minute rush. Books prepared in a hurry before the income tax due date have more mistakes, and rush work costs more.
- Bank loans get delayed. Banks ask for up-to-date accounts and stock statements; old books slow everything down.
What monthly bookkeeping includes
- Entering sales, purchases, expenses, receipts and payments, in Tally or the software you already use
- Bank reconciliation, so your books match your bank statement
- Customer and supplier ledgers: who owes you money and whom you owe
- Matching purchases with GSTR-2B before GST returns are filed
- A short monthly profit and loss statement and balance sheet
What you get out of it
- GST and TDS returns based on correct numbers, so fewer notices.
- Faster income tax filing and tax audit, because the books are already ready.
- Clear monthly numbers: sales, profit, outstanding payments and stock.
- Better decisions: you can see which products, customers or branches make money.
- Bank-ready accounts for loans and overdraft renewals.
How it works with us
You share bills and bank statements every month through our client portal, by WhatsApp or by email. We update your books, reconcile the bank and send you a short monthly summary. Ask us for a quote. The fee depends on how many entries you have each month.
Was this helpful?