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For any new company registration or
new Pvt Ltd Company Registration, their long term growth depends on how they
manage their Accounts at this stage. And no, we are not stretching by
suggesting so and we are speaking this with full responsibility. To grow big.
Company registration needs fund which is next to impossible if your accounting
is not upto the mark. Some of the common accounting and bookkeeping mistakes
made by owners of new company registration are:
Revenue than actual to save GST: We have seen many entrepreneur who show lesser revenue
as they want to save on GST Return. Well, never be pound foolish and penny
wise. Never show lesser revenue than actual as Revenue clocked by your company
registration is actually the most important thing which anyone sees about your
Assets when possible:
If you are buying a TV or a Laptop or a Car which will be sued for your Company
purpose, book the same as Assets for your company registration. Everyone likes
Company with Assets and especially Bankers!!!
losses to avoid paying Income Tax: Pay Taxes. It is not just orally correct but a fine
financial decision as well. If your company is making profits, you should
declare it as in the long run future of your company is decided by it.
depositing cash sales in bank account: If you collect cash as revenue,
deposit it in bank and then take out from bank for expenses. This is the right
way of accounting and doing so also ensures that Bank Account Transactions
invoice for all revenue booked. A basic excel format is OK but raise invoice as
any due diligence which happens later will definitely point out this shot
If you want to start new company as Private
Limited Company Registration, please contact us on +91 8447265465.
you want to avail bookkeeping services and accounting services, please contact
us on +91 8447265465
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