Accounting and Bookkeeping

Accurate accounting and organized bookkeeping are essential for businesses operating in India, where GST reporting, TDS compliance, MCA filings, and statutory deadlines require continuous attention. Many companies struggle with delayed reconciliations, incomplete documentation, and inconsistent financial tracking, which create gaps that affect tax accuracy, audit readiness, and decision making.

AccounTX offers structured accounting and bookkeeping services designed for startups, SMEs, and growing enterprises that need dependable monthly financial management. Our specialists maintain clean ledgers, reconcile key accounts on time, monitor cash flow patterns, and ensure every financial entry aligns with Indian regulatory expectations. With a process driven execution model backed by accounting technology and trained professionals, we help businesses maintain transparent books, avoid compliance risks, and manage their financial operations with confidence.

Why Accounting and Bookkeeping Matter in India: Compliance Heavy Environment That Demands Accuracy

India’s financial compliance system requires businesses to maintain precise records for GST returns, TDS deductions, income tax filings, payroll compliance, ROC reporting, and audit obligations. Even small errors in classification, documentation, or reconciliation can lead to penalties, cash flow disruptions, or delays in statutory submissions.

Clean, timely bookkeeping is the foundation of every tax computation, GST filing, vendor payment cycle, and investor report. Businesses need accurate ledgers, reconciled bank accounts, verified inputs for GST credits, and transparent financial statements to maintain credibility and operational continuity. As regulations evolve through periodic notifications, updates, and digital compliance platforms, companies benefit from working with a team that understands Indian law, uses modern accounting tools, and delivers consistent financial discipline throughout the year.

Challenges Businesses Commonly Face in Accounting and Bookkeeping

Many businesses in India struggle to maintain consistent financial hygiene due to operational pressure, limited internal resources, and evolving compliance requirements. The most common issues include delayed bookkeeping, incorrect ledger classification, and incomplete documentation, which create discrepancies during GST filing, TDS reconciliation, and financial reporting.

Frequent GST mismatches, incorrect ITC claims, and vendor invoice errors often occur when entries are not posted accurately or reconciled on time. Bank and payment gateway reconciliations may also remain pending for months, affecting cash flow visibility. Misaligned accounting practices across departments create reporting delays, making it difficult for founders and finance teams to take timely financial decisions or stay audit ready throughout the year.

How AccounTX Solves These Challenges With Structured, Technology Backed Processes

AccounTX provides businesses with a process driven accounting framework that eliminates errors and ensures accurate, compliant financial management. Our teams use cloud based accounting systems, automated reconciliation tools, and standardized workflows to maintain clean books every month. This approach reduces manual mistakes, improves turnaround time, and keeps financial data updated for statutory reporting.

Every client follows a clear monthly closing cycle that includes ledger reviews, reconciliations, GST input checks, statutory computations, and MIS reporting. Our specialists ensure classification accuracy, verify supporting documents, and maintain compliance readiness for GST, TDS, income tax, and audit requirements. This structured execution, combined with dedicated account managers and continuous compliance tracking, allows businesses to operate with confidence while maintaining dependable financial records.

Detailed Service Breakdown With India Specific Examples

Bookkeeping and Financial Record Maintenance

We record daily financial transactions across sales, purchases, expenses, and banking to maintain updated ledgers. Vendor invoices are validated against GST rules and input tax eligibility before entry. Customer collections are tracked with receipt mapping to ensure accurate ageing analysis. Monthly reconciliations are completed for bank accounts, payment gateways, cash deposits, and loan accounts so businesses always have accurate cash flow visibility.

GST and Tax Accounting Compliance

AccounTX manages GST entries, ITC tracking, RCM applicability, TDS deductions, and statutory accounting to ensure no mismatch during GSTR filing cycles. Sales and purchase registers are aligned with GST reporting formats and verified against vendor GSTR 2A and 2B data. We support accurate posting for advances, credit notes, debit notes, and tax adjustments so businesses avoid penalties and maintain clean compliance records.

Payroll Accounting and Statutory Deductions

Payroll is handled with monthly salary computation, PF, ESI, PT, and TDS deductions, attendance integration, and payroll ledger posting. AccounTX ensures payroll registers, salary slips, and compliance filings remain accurate and timely. This prevents common issues like incorrect PF calculations, overdue challans, or mismatched payroll expenses during audits.

Financial Statements and MIS Reporting

We prepare profit and loss statements, balance sheets, cash flow statements, and month-end MIS reports that help founders and finance teams understand trends in revenue, cost, margins, receivables, payables, and working capital. Forecasting and budgeting support is offered for businesses preparing for funding, expansion, or new market entry.

Virtual CFO and Advisory Support

AccounTX provides advisory on cash flow management, cost optimisation, margin improvement, compliance planning, revenue tracking, and internal controls. Businesses receive guided support for audit readiness, restructuring, investor reporting, due diligence preparation, and financial health analysis tailored to their operational model.

Technology and Tools Used for Accurate, Real Time Accounting

AccounTX adopts modern cloud based tools and automated workflows to deliver fast, transparent, and error free accounting for businesses across India. These solutions reduce manual work, improve data accuracy, and create consistent reporting across all financial activities.

We work with leading accounting platforms like Tally Prime, QuickBooks Online, and Zoho Books for bookkeeping, ledger management, and statutory compliance. Cloud based systems help maintain updated records, shared access, and automated backups for reliability.

Payment gateway and banking tools such as RazorpayX, Paytm Business, and Cashfree are integrated to automate payout reconciliations and collection tracking. Automated reconciliation tools match bank entries with books to eliminate human errors and reduce month-end delays.

For payroll and compliance, we use systems that support PF, ESI, PT, TDS, and statutory payroll registers. Document management tools ensure invoices, challans, contracts, and statutory records stay organised and audit ready throughout the year.

By combining robust technology with trained accounting professionals, AccounTX delivers accuracy, transparency, and dependable financial workflows that support business growth and compliance stability.

Engagement Model and Workflow

AccounTX follows a structured, transparent workflow that keeps accounting predictable, timely, and compliant. Every engagement is designed to ensure smooth onboarding, clean monthly reporting, and consistent communication with your internal teams.

Initial Assessment and Setup

We begin with a detailed review of your existing books, compliance status, ledgers, GST records, and payroll files. Based on the findings, we prepare a setup plan covering gaps, cleanups, and required process changes.

System Implementation and Standardisation

AccounTX configures accounting software, establishes chart of accounts, sets approval workflows, and defines monthly cut off processes. We standardise invoice formats, documentation rules, and supporting schedules to ensure consistent accounting across all departments.

Month-End Bookkeeping and Compliance

Daily entries are recorded throughout the month for sales, purchases, expenses, and banking. Our team performs weekly checks and month-end reconciliations for bank accounts, payment gateways, vendor ledgers, and input tax credit balances to maintain accuracy.

Statutory Compliance and Filing Cycle

GST filings, TDS calculations, PF and ESI filings, and monthly compliance tasks are executed according to a predefined calendar. This prevents delays, notices, or mismatch penalties.

MIS Reporting and Review

Monthly MIS reports are shared along with financial statements, variance analysis, working capital insights, and cash flow review. Regular review calls are conducted to resolve queries, adjust projections, or align reporting with business goals.

Continuous Advisory and Support

Clients receive ongoing support for audit readiness, tax planning, documentation, investor reporting, and operational improvements. Every engagement includes a dedicated point of contact for seamless communication.

This structured workflow ensures complete transparency, timely reporting, and a consistent month-end close process for businesses of all sizes.

Industries Served

AccounTX supports diverse industries, each with unique accounting, GST, and compliance requirements. Our industry-specific experience allows us to maintain accurate books while adapting to sector regulations and operational models.

SaaS and Technology

We manage subscription billing, deferred revenue, TDS on foreign payments, and recognition of recurring revenue. Support includes managing invoices for domestic and international clients, along with compliance for export of services.

eCommerce and Online Retail

Accounting covers marketplace settlements, COD reconciliations, return and refund adjustments, GST on multi-state sales, and payment gateway reconciliations. We work with platforms like Amazon, Flipkart, Shopify, and WooCommerce.

Manufacturing and Production Units

We manage raw material accounting, job work entries, production tracking, stock valuation, cost sheet preparation, and GST for input tax on goods movement. Support includes excise and labour related compliance for industrial units.

Professional Services and Agencies

AccounTX handles billing cycles, retainer-based revenue tracking, reimbursements, TDS applicability, and payroll compliance for consulting firms, legal practices, design studios, and service providers.

Foreign Subsidiaries and Global Companies Entering India

We manage complete India accounting, GST, payroll, TDS, ROC filings, and FEMA compliance for companies setting up Indian subsidiaries. Support includes monthly reporting aligned with parent company formats.

Across all industries, AccounTX offers structured accounting, reliable compliance handling, and ready-to-audit reports that help businesses operate smoothly and make informed decisions.

Why Choose AccounTX

AccounTX stands out as a dependable accounting and bookkeeping partner because every process is built around accuracy, compliance, and structured execution. Businesses rely on us for consistent reporting, organised workflows, and a well-managed finance function that supports day-to-day operations as well as long-term decision-making.

Process-Driven Accounting

Every task follows a defined SOP, monthly calendar, and multi-level review process to prevent errors, delays, or mismatches.

Compliance-First Approach

GST, TDS, payroll, and ROC requirements are managed through a structured compliance cycle to avoid penalties and notices.

Accurate and Timely Reporting

Monthly financial statements, MIS dashboards, tax summaries, and reconciliations keep leadership teams updated and audit-ready.

Technology-Enabled Execution

Automated reconciliations, cloud accounting, digital documentation, and workflow tracking ensure real-time visibility and faster turnaround.

Dedicated Support Team

A dedicated accountant, reviewer, and compliance specialist manage each engagement to ensure clear communication and seamless coordination.

Flexible Solutions for Every Business Stage

Startups, SMEs, enterprise teams, and foreign subsidiaries benefit from customised workflows, scalable processes, and industry-specific expertise.

AccounTX ensures that books stay clean, compliance stays current, and finance operations support strategic growth instead of slowing it down.

Case Example or Mini Scenario

A growing eCommerce brand selling across Amazon, Flipkart, and its own Shopify store struggled with reconciliation issues. Settlement reports rarely matched recorded sales, input tax credit remained unreconciled for months, and GST returns often required revisions due to incorrect classifications.

After onboarding AccounTX, structured processes were implemented. Marketplace settlements were reconciled weekly, returns and refunds were tracked accurately, and GST input claims were aligned with GSTR-2B. Within two months, financial statements became accurate, cash flow improved due to corrected ITC claims, and the management received clear monthly MIS reports for decision-making. The accounting function moved from reactive troubleshooting to smooth, predictable operations.

Pricing Framework

AccounTX follows a transparent, retainer-based pricing model designed to match the scope and complexity of each business. Pricing is structured around the monthly volume of transactions, number of employees for payroll, statutory compliance requirements, and reporting needs.

What the monthly retainer typically includes

• Daily bookkeeping and ledger updates
• Monthly closings and reconciliations
• GST and TDS accounting entries
• MIS and financial statement preparation
• Payroll processing and statutory filings
• Compliance calendar and reminders
• Year-end audit support and schedules

Optional add-ons

• Advanced MIS dashboards
• Dedicated controller-level oversight
• Vendor management and AP automation setup
• Inventory accounting system setup
• Support for foreign subsidiaries

This model gives businesses predictable monthly costs and clear deliverables without hidden charges.

FAQs

What accounting software does AccounTX work on

AccounTX supports Tally, Zoho Books, QuickBooks, Xero, RazorpayX, and custom ERP systems as per client needs.

How fast can bookkeeping be transitioned to AccounTX

Most transitions are completed in five to seven working days after receiving access to previous books and documentation.

Do you support GST and TDS compliance along with bookkeeping

Yes, bookkeeping, tax accounting, GST filings, and TDS returns are managed through a single integrated workflow.

Can you handle high-volume transactions

Yes, the team manages accounting for eCommerce, D2C, SaaS, and enterprise clients with heavy transaction loads.

Do you work with foreign subsidiaries operating in India

Yes, we handle bookkeeping, payroll, GST, TDS, and secretarial compliance for Indian subsidiaries of US, UK, UAE, and Singapore companies.

How often do clients receive MIS and financial reports

Standard reports are shared monthly, but weekly or customised MIS cycles can be implemented based on requirements.

Is cloud-based bookkeeping available

Yes, AccounTX offers fully cloud-enabled accounting with digital documentation, automated reconciliations, and remote access.

What happens if past books are not clean

We conduct a clean-up and realignment exercise before regular monthly accounting begins to ensure accurate reporting.

Do you provide support during audits

Yes, audit schedules, ledger confirmations, reconciliations, and supporting documentation are prepared as part of the engagement.

Can AccounTX help with tax preparation and corporate filings

Yes, from GST returns and TDS filings to income tax submissions and ROC filings, complete compliance support is available.

If you want organised books, timely compliance, and reliable monthly financial reporting, AccounTX can take complete responsibility for your accounting operations. Schedule a consultation to understand how our structured workflows and dedicated teams can support your business end to end.