1. Accounting-Bookkeeping-Services
2. Close-Your-Private-Limited-Company
3. Close Your LLP

1.Accounting Bookkeeping-Services

Accounting is the process of storing, sorting and recording financial transactions. All businesses are required by law to submit their accounts to the Income Tax (IT) Department. Several start-ups tend to ignore this requirement early on, and then scramble to put together their accounts when they are raising funding or being acquired. Maintaining the books in-house certainly is a tedious and possibly expensive affair, but getting it done would significantly reduce pains in complying with the requirements of the IT Department, give the promoters and shareholders a good sense of how the business is doing, prove eligibility for loans in later years, and even satisfy investors.

Weekly Reports

Payables & Receivables and Weekly Cash Flow Statements

Monthly Reports

Financial Statement & Bank Reconciliation Statement

ADVANTAGES OF ONLINE ACCOUNTING

Always Available

Our services are offered on the cloud, which means that you’ll have 24×7 access to your accounts and can be sure of confidentiality.

Equity Eligibility

If you’re going to raise funding or ask for a loan at a later stage, you would need to provide your books of accounts from the start of operations. If you have a proper record of transactions, your compliance costs would be reduced.

Review Efficiency

All businesses make decisions based on financial data as they provide an unbiased account of the efficiency of the business. In their absence, it is always possible for bias to creep in to decision-making.

2.Close-Your-Private-Limited-Company

Winding up a private limited company is a tedious, but necessary, procedure. Without doing so, you would need to annually meet the requirements of the Registrar of Companies (which means spending money on audit and compliance). The bigger reason you would want to do this, of course, is because it releases the assets and investments made by you.

What it  Involves ?

Public Accountant

A public accountant would be appointed by the court as a liquidator. The powers of the directors would devolve upon this person and he would be primarily responsible for accumulating all the assets of the company and paying off its debts. The surplus would then be distributed among the members.

Documents Required

A statement of account has to be prepared, stating that there are no assets and liabilities except share capital and profit and loss debit balance. An affidavit and indemnity needs to be executed by all directors. If there is any unsecured loan, a waiver letter should be submitted.

3.Closing an LLP

To close down a limited liability partnership (LLP), the resolution to do so must be filed with the Registrar within 30 days of its passing. Once this has been done, the majority of the partners need to make a declaration to the effect that the LLP has no debts or that it is in a position to pay all debts within a specified period not exceeding one year from the date of commencement of winding up of LLP. Within 15 days of the passing of the resolutions, statement of assets and liabilities for the period from the last accounts closure to the date of winding up of LLP must be submitted, attested by at least two partners. A report of valuation of the assets of the LLP must be prepared.