Accounting & Bookkeeping

SSI provides a year-round comprehensive bookkeeping solution to suit all your accounting needs. Proper accounting helps in establishing an effective financial ecosystem and helps you manage your budgets, fund flows, payables, receivables efficiently and effectively.

Regular maintenance of books of accounts is a statutory requirement for all business entities. Further, it is mandatory for firms undergoing statutory or internal audits as per the regulatory norms of several governmental bodies.

Because most startups, initially do not need a full-time dedicated accountant as the volume of transactions is low and at times it is not even economically feasible to hire one, SSI has specially curated this service package to fulfill all your accounting needs.

How can you benefit by outsourcing bookkeeping/ accounting services to SSI?

In today’s time with excellent access to online traceable communications, outsourcing core information-related business activities like accounting/ bookkeeping are considered and categorized as Knowledge process outsourcing wherein qualified professionals undertake assignments that require advanced analytical and technical skills as well as a high degree of specialist expertise.

We, at SSI, put in place rigorous internal control and quality assurance systems, wherein your industrial activities are studied in detail, and services such as accounting, and bookkeeping are carried on keeping in mind relevant:

1. Accounting standards (IND-AS)
2. Guidance notes issued by ICAI, and
3. IFRS, wherever applicable.

As SSI undertakes a huge number of outsourcing of accounting assignments, our teams can perform much better than a traditional accounts department because:

• We put in place advanced SOPs and practice learning curve methodologies that help our team to adapt the latest rules, regulations in the quickest manner possible.
   
• Our team encounters and resolves much more doubts and questions on daily basis and is hence, way ahead of a traditional accounts department in terms of selection transaction recording methods.

• Advance level doubts that might put your accounts department under strain, are a part of our daily routine and do not bother us at all.

• The presence of an In-house board of consultants, which comprises highly experienced chartered accountants and tax experts, helps us resolve all our accounting challenges in an extremely fast manner, and hence ensures the availability of up-to-date books of accounts at all given times.

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What kind of financial reports will be made available by SSI to you?

SSI will be providing you with all the standard financial reports that can be generated by your traditional/ in-house accounts department. To name a few:

1. Trial Balance
2. Balance Sheet
3. Profit and Loss Account
4. Summary of Accounts Receivables and Payables

Statutory requirements to maintain proper books of accounts:

Income Tax Act, 1961 requires a mandatory statutory audit for registered companies, and that is indeed possible only when proper books of accounts have been maintained as per the law.

Companies Act, 2013 mandatorily requires every company to file an annual return with the registrar of companies (ROC) irrespective of the fact whether a company has suffered losses or made low/ no income during a financial year.