Accounting & Book Keeping Outsourcing Company in India

Ideal for Firm/LLP or Companies, looking to ensure ontime compliance from Tax Expert

  • Ideal for Startups and Foreign Companies, to get their day to day accounting updated
  • Low Cost | Accounting by Qualified Accountants (CA/CMA) on software
  • Retainership Fee Starts @ Rs 9,500 + GST per month

Book Keeping and Accounting Service at a glance

Many people use the terms book keeping and accounting interchangeably, but the fact is the former is the first step to the latter, i.e. book keeping is the stepping stone of accounting. Book keeping is an activity of recording the financial transactions of the company in a systematic manner. For example Transaction day book, Journal and Ledgers. Accounting is an orderly recording and reporting of the financial affairs of an organization for a particular period. For example Balance Sheet, Profit & Loss Account and Cash Flow Statement. Accounting clearly shows the financial position of the entity which mare book keeping job does not.

LEGAL REQUIREMENTS- Various Law Regulating the business and Taxation in India has put legal compulsion to main Books of Accounts as per Law and Guidelines.

A. Under Direct Tax Act

B. Under the Companies Act 2013

C. Under GST Act

Books of Accounts to be preserve for atleast 6-8 years under the provisions of different Acts in India.

PKS aims to be your trusted Book Keeping and Accounting outsourcing service provider, enabling you to focus on your core business. We offer a wide range of services along with reporting, Analysis on a periodical basis which helps to project your future plan or to take important decision based on the Financial Statements.

Benefits of Maintaining Books of Accounts

Forecast your business better

Past Financial Statements ( Like Balance Sheet, profit & Loss Accounts, Cash Flow, Financial Ratios) helps to make a decision for future plan and you can have a better control over your projections.

Comply Legal Requirement

Maintaining a proper books accounts as per legal requirement of Income Tax Act, Companies Act, GST Act, Custom Act helps to determine your Tax liability properly, comply Accounting standard as as issued by ICAI if it is a company, file accurate Return with department and Most important become you become stress free.

Make easy for Bank Finance & Private Funding

Your books of accounts talk about your financial credibility and you need to have a minimum 2-3 years on record for you to get funded. It is important you must have Balance Sheet, Profit & Loss Account and Cash Flow Statement at initial and based on that you can workout your projections and plan.

Stay Organised with Clients

Helps to stay organised when dealing with customers and suppliers.Producing invoices is vital as we cannot rely on supplier’s statements. Planning the receivables and releasing payments is of utmost importance too. All these would be easier done if the books are up to date.

Easy access to Critical Data

By maintaining books of accounts in an organised manner helps you find critical data and easy to prepare financial ratios to check the performance of the business.

Avoids interest and penalties Companies Act

There is a statutory obligation for all the companies to maintain their books of accounts on accrual bases and as per to the double entry system. They are required to keep their books for inspection at the registered office of the company during business hours.

Easy to prepare management accounts

As a business owner, you will have full control on the expenses and income. Having proper books will help you and your management be prepared for any unforeseen shortcomings.

How we Maintain Books of Accounts for various Clients

  • For Indian Company We follow the provisions of Companies Act and Apply Accounting Standards (as issued by The Institute of Chartered Accountants of India) wherever applicable for a Private or Public limited company. Financial Statement prepare as per Schedule VI of the Companies Act which is the requirement for Statutory Audit and same is also adopted by Income Tax Law as well.
    Prepare Monthly/Quarterly Balance Sheet, Profit and Loss A/c and Cash Flow Statement.
    Deliver Accounts Backup time to time.
    Deliver Invoices, Ledger, Party Statement time to time.
    Preserve Accounts backup soft copy for 8 years
  • For Firm/LLP We follow Generally Accepted Accounting Principle (GAAP) in India to maintain books of accounts and preparation of Balance Sheet, Profile & Loss Statements. Which fulfil the requirement of Income Tax Law, GST etc.
    Prepare Quarterly Balance Sheet, Profit and Loss A/c and Cash Flow Statement.
    Deliver Accounts Backup time to time.
    Deliver Invoices, Ledger, Party Statement time to time.
    Preserve Accounts backup soft copy for 8 years
  • For Foreign Company Maintain Full Book Keeping and Accounting for the client
    A Partly Accounting -
    # Receivable Accounts
    # Payable Accounts
    # Invoicing etc

Our Book Keeping & Accounting Retainership Service Package Inclusion

Accounting Entries

Recording day to day Expenditure, Income, Party Payment, Receipts, Statutory liabilities ( Tax)


Issue of sales Invoices

Receivable Accounting

Maintaining ledger of all Receivables (Debtors), Receivable Ageing Analysis, Sales entry, Accounting for Collection of Payment, Debit/Credit Note entry.

Payable Accounting

Maintaining ledger of all Payable (Creditors), Payable Ageing Analysis, Purchase entry, Accounting for purchase payment, Debit/Credit Note entry.


Reconciliation of Bank Accounts with Bank statement, Inter Branch Reconciliation, Party Statement reconciliation

Financial Statements

Preparation of Balance Sheet, Profit & Loss Account and Cash Flow Statement ( for companies)

Tax Computation

We provide Monthly and periodical computation of GST, TDS, TCS, Other Taxes for timely deposit with Govt.

Use of Accounting Software

we use compatible software as per requirement of business nature and transaction volume.

Legal Requirements of Accounting and Mainting Books of Accounts in India

A. Under Income Tax Act

  • As per Section 44AA of Indian Income Tax Act Books of Accounts required to be maintained by specified person.
  • Under Section 44AB, Tax Audit is compulsory if turnover exceeds specified limit of Rs 25 Lakhs/ 1 crore / 2 Crores of the business entity. For that Books of Accounts required to maintain.

B. Under the Companies Act 2013

  • Every company shall prepare and keep at its registered office books of account and other relevant books and papers and financial statement for every financial year which give a true and fair view of the state of the affairs of the company, including that of its branch office or offices, if any, and explain the transactions effected both at the registered office and its branches and such books shall be kept on accrual basis and according to the double entry system of accounting as per Section 128(1).
  • File Audit report Balance Sheet and Profit & Loss Statement annually with ROC.
  • Also has to Comply Accounting Standards as issued by The Institute of Chartered Accountants of India.
  • Books of Accounts shall preserve for a minimum period of 8 years.
  • Non Compliance Penalty - If the managing director, the whole-time director in charge of finance, the Chief Financial Officer or any other person of a company charged by the Board with the duty of complying with the provisions of this section, contravenes such provisions, such managing director, whole-time director in charge of finance, Chief Financial officer or such other person of the company shall be punishable with imprisonment for a term which may extend to one year or with fine which shall not be less than fifty thousand rupees but which may extend to five lakh rupees or with both as per section 128(6).

C. Under GST Act

Section 35 provides that every registered person shall keep and maintain, a true and correct account of

  • Invoices, Debit note, Credit note.
  • Production or manufacture of goods ( for manufacturing unit)
  • Inward and outward supply of goods or services or both
  • Stock of goods
  • Input tax credit availed
  • Output tax payable and paid and
  • goods or services imported or exported
  • Such other particulars as may be prescribed

How We Proceed

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  • Either pay Online OR Through NEFT/RTGS/Cheque
  • EMI facility available on online payment above Rs. 5000/-
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