March 24, 2018

Accounting & Taxation

Accounting

We are your accounting consultants. We read more than numbers.As accounting consultants, we help you understand what the various reports mean, and how the data you’re seeing affects your company. We work  with a number of tasks related to accounting services such as :

  1. Recording books of accounts
  2. Financial forecasting
  3. Analyzing financial statements
  4. Determining profitability of the business
  5. Determining accounting services you need
  6. Setting up consistent accounting practices.

Accounting is an important service activity. As accounting provides quantitative information of financial nature to various stakeholders which are intended to be used in making economic as well as qualitative decision. These stakeholders include investors, management, government, suppliers, financiers, regulators etc. Business accounting help in making a number of short term and long term business decisions which helps an enterprise to grow as well as create a clear financial scenario.

Bookkeeping: Many business owners are great at providing the product or service that is the backbone of the business. But business owners aren’t always experts at keeping the financial records of running a business. We can assist with this. We will send our team of an accountant to your place on regular basis to keep accounts updated.Now you don’t need to hire a full-time accountant at additional cost. Our efficient team will manage it on your behalf.

Book Keeping includes:

  1. Recording of entries
  2. Ledger Accounts
  3. P&L and Balance Sheet
  4. Bank Reconciliation Statement
  5. Account Receivables and Payables Statement

Once Books are kept as per accounting standards, our team of experts works on analysing the same to create efficiency reports.

Why outsource your finance and accounting?

By choosing finance and accounting outsourcing partner, you can get access to several benefits such as:

  • Save up to 75% on bookkeeping expenses
  • Boost your bottom line with fewer overheads
  • Focus more on your core business area
  • Get access to complete financial management from bookkeeping to tax returns

Budgeting & Forecasting :

To be successful in fast-moving economic conditions, one needs budgeting & forecasting system in place. Some of the key benefits of this exercise

  1. Understand your cash flow requirement.
  2. Planning for contingencies.
  3. Setting goals and targets.
  4. Growth strategy based on goals and identifying milestones.

This is a very important function for internal clarity and if you are planning to raise funds you need to have a well-defined budget and forecast for investors & lenders. This cannot be achieved overnight, and comes only through sound planning and undertaking serious budgeting & variance analysis internally, every month. ZONECFO assists in drawing up detailed forecast model with detailed discussions with all key stakeholders. To simplify the process for the accounting staff we also provide exhaustive templates, with simple data input sheets, wherein they could feed their actual financials from their accounting software and generate detailed management dashboard.

Taxation- Direct Taxes & Indirect Taxes

Direct Taxes

Business requires an appropriate direct tax strategy, which in turn requires right tax advice. Corporate need to have tax efficient structure, which minimises their tax burden.With tax laws evolving every day, businesses need to be efficient with day to day compliance challenges in order to avoid any penalties or prosecution.

We provide advisory and compliance services relating to Income-tax, Advance tax, Tax Deducted at Source (TDS).

Indirect Taxes

Every business transactions require an indirect tax determination compliant with a jurisdiction of tax.With ever-evolving Indirect tax laws, there is a constant need to re-engineer your tax strategies to incorporate new changes enabling tax efficiency and robust compliance.Corporate on daily basis tackle issues on indirect taxes such as service tax, GST etc.

Some of our services related to taxation:

  1. Business Income Tax Return: Our an expert to prepare and file a tax return for your business/profession
  2. Preparation of Income Tax Return for individual business owners
    Assessment of Tax Returns
    Consultancy in Income Tax matters & Tax Planning
  3. Goods & Services Tax (GST)
    Filing of monthly and quarterly GST returns and annual compliance return
    GST Registration for new Assessee or Migration