Bookkeeping, Accounting & Reporting

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Onfiling is a cloud based fintech platform having expertise of 15+ years in offering services for the business incorporation and filing, virtual CFO services, accounting & bookkeeping, legal & IPR, HR & Payroll management services.

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Bookkeeping and accounting are two tasks that are critical for any company. Simply put, bookkeeping is in charge of tracking financial transactions, while accounting is in charge of interpreting, classifying, reviewing, publishing, and summarising financial data.
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Accounting is a process which records all your financial transactions. Accounting is an important concept for every business as they need to submit their financial records and transactions.

Onfiling helps to keep your account sorted from the beginning and keeping the books updated. It will help in tax compliance and decision making of crucial financial matters at the same time when you are handling your business.

The services provided by Onfiling are:

Bookkeeping

Bookkeeping refers to the recording of the company’s financial transactions on a daily basis. When accurate bookkeeping is done on regular basis then only companies are able to track information on its books to make key operating, investing and financing decisions

Onfiling provides the following services:

  • Day to day accounting
  • Accounting software  for sale invoice with Eway bill feature
  • Reconciliations
  • Accounts receivable and payable (debtors and creditors reconciliations)
  • Inventory management
  • Purchase and expenses booking
  • Maintain books of accounts and supporting documents at cloud server
  • GST and TDS compliances and filings
  • Preparation of Balance sheet & Financial statements
  • Yearly Reporting

How Onfiling works?

Accounting & Reporting

Onfiling helps in drafting your financial statementsand analysis which provides a true and fair picture of your financials and helps to understand, plan and implement business strategies.

  • Record of financial transactions related to business is maintained.
  • Preparation of financial statement and balance sheet
  • Provides concise summary of financial transactions over an accounting period.
  • Implementation and selection of Accounting software
  • Analysis of Cash Flow & Budget
  • Financial Projections & Forecasts
  • Business valuation for startups

Required Documents

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FAQs

You Ask, We Answer

Bookkeeping provides expense management, money-in/revenue reconciliation, bill payments, and payroll services.
It includes items namely revenue, cost of goods sold, cost of labour and operating expenses.
Yes, you will need separate bookkeeper because both perform different tasks of the business. Bookkeepers plays role for on-going maintenance of their clients’ general ledgers. Accountants use the accurate and up-to-date general ledger maintained by the bookkeeper to provide advisory services, such as: • Analysing the company’s financial data • Preparing income tax returns
Pricing of accounting services depend on the company’s needs. Pricing model is based on the company’s accounting activity and the complexity of financial statements.
Accountants prepare the financial records and ensure that they are correct. The duties of accountants include preparing tax returns, to make sure that the company financial statements comply with the state and federal laws, providing financial advice.

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