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Accounting And HR Services

Here’s a detailed breakdown of the segments under Accounting and Tax Services, commonly offered by professional firms or internal finance departments. These services ensure financial compliance, accuracy, strategic planning, and regulatory adherence for individuals, businesses, and corporations

1. Bookkeeping & General Accounting

Foundational financial record-keeping and transactional tracking.

Subsegments:

  • Day-to-Day Transaction Recording
  • Accounts Payable (AP) & Accounts Receivable (AR)
  • Bank Reconciliation
  • Ledger Maintenance
  • Petty Cash Management
  • Journal Entry Posting

2. Financial Reporting & Analysis

Preparation and review of financial statements and performance metrics.

Subsegments:

  • Balance Sheet Preparation
  • Profit & Loss Statement
  • Cash Flow Statement
  • Variance Analysis
  • Management Reporting (MIS)
  • Financial Ratio Analysis

3. Taxation Services

Subsegments:

  • Direct Tax Services
    • Income Tax Return Filing (Individual & Corporate)
    • Advance Tax Computation
    • TDS (Tax Deducted at Source) Compliance
    • Tax Assessment & Appeals
  • Indirect Tax Services
    • GST/VAT Registration & Return Filing
    • GST Reconciliation & Audit
    • Excise/Customs Duty Compliance
  • International Taxation
    • Transfer Pricing Analysis & Documentation
    • Double Taxation Avoidance Advisory
    • Withholding Tax Advisory
    • Cross-Border Tax Structuring

4. Payroll Accounting & Compliance

Managing employee compensation and related statutory obligations.

Subsegments:

  • Payroll Calculation & Processing
  • Payslip Generation
  • PF, ESI, PT, LWF Calculations
  • Payroll Tax Filings (Form 24Q, etc.)
  • Leave & Attendance Reconciliation
  • Employee Reimbursement Management

5. Audit Support & Assurance

Ensures transparency, accuracy, and compliance with financial regulations.

Subsegments:

  • Internal Audit Support
  • Statutory Audit Coordination
  • Tax Audit Assistance
  • Stock & Inventory Audit
  • Forensic Audit Support
  • Audit Trail Documentation

6. Budgeting & Forecasting

Forward-looking financial planning and budget tracking.

Subsegments:

  • Annual Budget Preparation
  • Cash Flow Forecasting
  • Scenario & Sensitivity Analysis
  • Capital Expenditure Budgeting
  • Rolling Forecast Updates

7. Advisory & Strategic Consulting

Value-added services to optimize business decisions.

Subsegments:

  • Tax Planning & Optimization
  • Business Structuring (LLP vs Pvt Ltd etc.)
  • Cost Reduction Strategies
  • Profitability Analysis
  • Exit Strategy & Succession Planning
  • Merger & Acquisition (M&A) Support

8. Compliance & Regulatory Filing

Ensures timely and accurate filing with relevant authorities.

Subsegments:

  • ROC Filings (Company Law Compliance)
  • Statutory Returns (TDS, GST, Income Tax)
  • FEMA/SEBI/RBI Reporting (for applicable companies)
  • Company Secretarial Support
  • Licensing & Registration Services (PAN, TAN, GSTIN)

9. Asset & Inventory Accounting

Track and manage physical assets and inventories from a financial perspective.

Subsegments:

  • Fixed Asset Register Maintenance
  • Depreciation Calculation (as per Companies Act & Income Tax Act)
  • Physical Verification & Tagging
  • Capitalization & Disposal Accounting
  • Inventory Valuation (FIFO, LIFO, Weighted Avg)

10. ERP & System Implementation Support

Support for setting up accounting systems and digital transformation.

Subsegments:

  • Accounting Software Implementation (Tally, QuickBooks, Zoho, SAP, Oracle)
  • Chart of Accounts Structuring
  • Automation of Financial Workflows
  • ERP Integration with Banking/CRM
  • User Training & SOP Documentation

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Accounting And HR Services