Accounting & Bookkeeping
In short
KNAP Advisory maintains your books of account, reconciles bank and ledger balances, prepares GST and TDS workings and produces monthly management reports and year-end financial statements. Companies must keep books of account under Section 128 of the Companies Act, 2013 and preserve them for eight years.
Overview
Accurate books are the base for every other compliance: GST returns, TDS, income tax and ROC filings all depend on them. They also tell founders what is happening in the business.
We work in the accounting software you already use, or help you set one up, and agree a monthly timetable so your numbers are ready when you need them.
Key requirements
- Access to bank statements, invoices and expense records
- An accounting system (we can recommend and set one up)
Documents required
- Bank statements
- Sales and purchase invoices
- Expense bills and payroll data
- Loan and asset documents
We share an exact checklist for your case before you start, since requirements vary with the structure and the people involved.
Process
Set up
We review your current books and agree a chart of accounts and timetable.
Record
Transactions are recorded and classified each month.
Reconcile
Bank, GST, TDS and party balances are reconciled.
Report
You receive monthly reports and, at year end, financial statements ready for audit.
What KNAP Advisory handles
- Bookkeeping and ledger maintenance
- Bank and vendor reconciliations
- GST and TDS working papers
- Monthly MIS reports
- Year-end financial statements in Schedule III format
- Audit support
Frequently asked questions
How long must a company keep its books of account?
At least eight financial years under Section 128 of the Companies Act, 2013. Tax laws can require longer retention in some cases.
Can you work with Tally or Zoho Books?
Yes. We work with commonly used accounting software and can also help you migrate.