What corporate accounting covers and who needs it
Companies and LLPs are legally required to maintain proper books of account on an accrual basis. Beyond compliance, accurate books are what your auditor, lenders and investors rely on.
The service covers sales and purchase entries, expense booking, bank and card reconciliations, accounts receivable and payable tracking, fixed asset registers, payroll and statutory deduction entries, GST and TDS reconciliations, and month-end provisions.
It suits founders who currently rely on a part-time bookkeeper, growing companies preparing for a fundraise or audit, and groups with several entities that need consistent reporting across all of them.
How the monthly cycle runs
At onboarding, we review your chart of accounts, opening balances and existing software, and agree on how documents will reach us: shared drives, email forwarding of invoices, bank feeds or exports from your billing and payment platforms.
During the month, transactions are recorded as they arrive. At month-end, we reconcile every bank account, match GST input with GSTR-2B, verify TDS deducted and deposited, and book accruals and prepaid adjustments.
You then receive a month-end pack with the trial balance, profit and loss statement, balance sheet, debtor and creditor ageing, and a short note on open items that need your input.
Accounting for Mumbai companies: what to plan for
Mumbai companies often run several revenue streams at once, which needs a chart of accounts that tracks each line separately. Production houses track costs project by project. D2C brands deal with marketplace settlements, payment gateway charges, returns and logistics costs that must be reconciled order by order to arrive at real margins.
Maharashtra Profession Tax must be deducted from salaries and deposited, and employers also pay it on their own enrolment, so payroll entries must reflect both.
Companies using accounting software must also ensure the software's audit trail feature is enabled and not disabled, as required under the Companies (Accounts) Rules, which auditors now report on.
Why outsource accounting to Finaccle in Mumbai
A dedicated accountant handles your books, with a CA reviewing the monthly close rather than only checking at year-end. This catches classification errors and missing entries while they are still easy to fix.
Our process is fully digital, so the team can work on your books whether you are in Andheri, Lower Parel, Navi Mumbai or Thane. We work on the software you already use and can also support migration if you are moving from spreadsheets.
Because GST, TDS, payroll and income tax are handled by the same firm, the numbers in your books and the numbers in your returns stay consistent, which makes audits and notice responses smoother.
Accounting and Bookkeeping in Mumbai: FAQs
Which accounting software do you work on?
We work on Tally Prime, Zoho Books and other commonly used platforms, and can continue in the software you already have. If you are currently on spreadsheets, we can set up a new system with a chart of accounts suited to your business and import opening balances. Access is shared through secure cloud or remote connections.
Does a small private limited company need full bookkeeping?
Yes. Every company must maintain books of account on an accrual basis and have its financial statements audited each year, regardless of turnover. Even a company with few transactions needs proper records for its income tax return, RoC filings and GST compliance. The volume of work is smaller, but the requirement is the same.
What reports will I receive every month?
The standard month-end pack includes a trial balance, profit and loss statement, balance sheet, bank reconciliation summary, and receivable and payable ageing. On request, we add department-wise or project-wise profitability, budget versus actual comparisons, and cash flow statements. Reports are shared in Excel or PDF along with a note on pending items.
How do I share invoices and bills with your team?
Most clients use a shared cloud folder, an email address for forwarding bills, or direct exports from their billing, payment gateway and marketplace dashboards. Bank statements can be shared monthly or through read-only access where your bank allows it. We agree on a workflow at onboarding that fits how your team already works.
Talk to Finaccle
Read more about our Accounting and Bookkeeping services, or book a free consultation with our Mumbai team. You can also browse our FAQs.
Accounting and Bookkeeping support is also available in Surat and Delhi.