Bookkeeping and Accounting

Bookkeeping and accounting provide the financial record of a business. They show how money moves, how revenue is earned, how expenses are incurred, what liabilities exist, what assets are held, and how the business is performing.

Clean books are essential for tax filing, GST review, annual compliance, audit coordination, payroll reconciliation, FDI and FLA reporting, investor review, banking relationships, and management decision-making. Businesses that delay bookkeeping often face confusion during filings, audits, funding, or financial reviews.

Who is this for?

• Startups and SMEs needing organised financial records
• Foreign subsidiaries supporting group and statutory reporting
• Businesses preparing for tax, audit, or funding

What it involves

Eraqus Advisors supports businesses with organised bookkeeping and accounting processes, transaction recording, bank reconciliation, invoice tracking, vendor and customer records, expense classification, payroll accounting, financial reporting, and coordination with compliance activities.

For foreign subsidiaries, accounting is especially important because the Indian books may also need to support group reporting, transfer pricing records, statutory audit, FDI reporting, and management review by the foreign parent.

Key considerations

• Regular recording rather than an annual clean-up
• Bank reconciliation and expense classification
• Payroll accounting aligned with the books
• Support for audit, tax, FDI, and FLA reporting

Ongoing compliance

Accounting should not be treated as an annual clean-up task. It should be maintained regularly so that the business owner has reliable financial information throughout the year.