Book Keeping

This is our first step towards putting the system in place. We will study your business and set up your accounts on your accounting software and customise coding as per the requirement of your business. We will maintain the following ledgers:

• Cash Book
• Sales Ledger
• Purchase Ledger
• Nominal Ledger

There is a misconception among non-finance people that sufficient balance in the bank means profit and Vis versa is loss. A business cannot be judged by the balance in the bank. The assets, debtors, creditors, loans, investment etc are important to know the strength of any business. Hence, it is important to have a proper book keeping in place. Book keeping is required not only by law but also for several reasons: money in the bank. All businesses need to keep records of their financial transactions for several practical reasons:

• Every business whether small or big wants to know if they are making profit or loss at any given period.
• Every business must know how much money they owe to others and how much thery are owed. Also, how long the money is outstanding for collection/payment.
• Some accounts might draw up accounts to appease the taxman without giving a proper picture of the business.
• Keeping a record of all the bills, receipts, invoices, bank statements etc for six years is mandatory for all business irrespective of small or big
• Self employed people are required by law to keep to all the documents - bills and receipts - which form the basis of information on your tax return for six years. This includes petty cash records, bank counterfoils, and goods in and out records.

Why Namaste Consulting?

• We are most competitive
• We are flexible in our fees and time with 24/7 service at short notice
• We help you in setting up your accounts
• We will post all your purchase, sales invoices, Cash and Bank transactions, month-end journals
• We will reconcile your bank statements and Balance sheet items
• We will maintain your fixed asset register
• We help to design your reports as per your requirement
• We help you to prepare, budgets, forecasts and cash flow statements
• We help you to identify the areas where money could be saved
• We will make ourselves available during your audits

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