Keep your books accurate and ready for tax, audit and funding with Legal Startup. A dedicated accounting expert records your transactions, reconciles your bank, GST and TDS, prepares monthly reports and financial statements, and cleans up backlog books for startups, MSMEs, LLPs and companies.
Free call & custom quote · Professional fee, no hidden charges
Bookkeeping and accounting means recording a business's transactions, reconciling them with bank, GST and TDS data, and turning them into reports and financial statements. Accurate books are the base for filing tax returns, claiming input tax credit, passing an audit and raising a loan or investment.
Last updated: October 2026. Retention periods, limits and rules can change, so we confirm the current position for your business. This page is general information, not legal or tax advice.
Bookkeeping is the routine recording of every financial event in your business: a sale, a purchase, a bank payment, a salary or an expense. Accounting builds on these entries. It groups them into the right heads, checks them against external records, and prepares the statements and reports that owners, banks, investors and tax authorities rely on.
In India, books also serve legal purposes. Companies and LLPs must keep proper books of accounts, and many businesses and professionals must keep books under the Income-tax Act once they cross the prescribed limits. GST registered businesses must also keep records that support their returns and input tax credit. Companies must use accounting software that keeps an edit log and audit trail.
Good books show you where cash is going, which customers owe you money and what your real profit is, and they make every later filing faster. For tax and ROC filings that follow from your books, see our pages on LLP compliance and partnership firm compliance. For GST and income tax rules, visit the GST portal and the Income Tax e-filing portal.
Important limits and rhythms every business owner should know.
From daily entries to year-end statements.
Regular recording of all business transactions.
Books matched with bank and payment gateway records.
Books matched with tax data before returns are filed.
Salary, reimbursements and statutory dues recorded correctly.
Reports you can read and use for decisions.
Old or incomplete books brought up to date.
Not sure what your business needs? Share a sample of your records and our experts will suggest the right scope free of charge.
Why growing businesses hand their books to experts.
Entries are recorded and closed every month, not once a year.
Clean books make GST, TDS and income tax returns faster and safer.
Know your real margins, dues and cash position at any time.
Banks and investors ask for clear financial statements.
Reconciliation reduces mismatches that trigger notices.
Organised records and supporting documents save audit time.
Share documents from anywhere in India, no office visit needed.
From first review to monthly reports, here is how our online bookkeeping and accounting works.
Timelines depend on how organised your records are and on any backlog. Not to scale.
We understand your business, volume of transactions, tax registrations and current state of books, then suggest a scope.
We set up the chart of accounts, opening balances and software, with an audit trail where it is required.
You send bank statements, invoices and bills online each month, and we agree a simple checklist and cut-off date.
Entries are posted and matched with bank, GST and TDS data, and open queries are sent to you in one list.
We close the books and share profit and loss, cash position, receivables and payables.
Financial statements are finalised and handed over for tax filing, audit and ROC filings where they apply.
Keep these ready to avoid delays. Our expert will confirm the exact list for your business.
The cost of bookkeeping and accounting depends on the volume of transactions, the number of bank accounts, whether GST, TDS and payroll are included, and how clean your existing books are. It generally has three parts:
Based on the scope and volume of transactions. Call free for a custom quote before you pay anything.
Needed when books are old, incomplete or need opening balances and software setup.
Payroll processing, audit support, tax filings and software subscriptions are charged separately.
We share a clear, itemised quote before you begin – no hidden charges. Get your free quote →
Choose the situation that matches your business, or call free for a custom quote.
A small business or startup that needs clean books every month.
A growing business that files GST and TDS and wants clear reports.
Old, incomplete or error-filled books, or year-end statements needed.
Our professional fee is quoted after a free call. Taxes, government fees and software subscriptions are separate. Not sure which option fits? Ask for a free books review.
Any business that earns, spends or files returns needs accurate books.
Clean books from day one help with funding and diligence.
Track stock, dues and margins with limited in-house accounts staff.
Statutory books, financial statements and audit support.
Books that support income tax and GST returns.
Income, expenses and tax records in one place.
Overdue or messy books fixed before returns, audit or a loan.
A quick view of how the three differ. Ask us which one your business needs.
| Point | Bookkeeping | Accounting | Audit |
|---|---|---|---|
| Purpose | Record transactions | Summarise and interpret them | Independent check of the accounts |
| Output | Ledgers and reconciled books | Financial statements and MIS | Audit report |
| Frequency | Daily or monthly | Monthly, quarterly and yearly | Yearly, where applicable |
| Done by | Bookkeeper or accountant | Accountant or CA | Chartered accountant |
A monthly routine and a clear document trail prevent most accounting problems.
Good accounting is a habit. Here is how to keep it that way.
Send invoices, bills and statements before the monthly cut-off.
Check profit, cash, receivables and payables and act on them.
Use reconciled books for GST, TDS and advance tax planning.
Finalise statements for audit, income tax and ROC filings where applicable.
Need other support for your business? Visit our Legal Startup home page to see our full list of services.
Quick answers on bookkeeping and accounting services in India.
Bookkeeping is the day-to-day recording of a business's financial transactions, such as sales, purchases, expenses, bank entries and payments, in an organised set of books. It is the base on which accounts, tax returns and financial statements are prepared.
Bookkeeping records transactions. Accounting classifies, summarises and interprets them to produce financial statements, tax computations and management reports. An audit is a separate independent check of the accounts by a chartered accountant.
Companies and LLPs must maintain proper books of accounts, and the Income-tax Act requires many businesses and professionals to keep books once their income or turnover crosses the prescribed limits. Even where it is not strictly required, books are needed to file returns, claim input tax credit and raise finance.
A company must generally keep its books for eight financial years, and income tax rules and GST law prescribe their own periods that are generally around six years. Records related to pending proceedings should be kept longer. We confirm the period that applies to your business.
Recording sales, purchases and expenses, bank and payment reconciliation, accounting of payroll, GST and TDS reconciliation with your books, and a monthly report of profit, cash and dues. The exact scope depends on the plan we agree on a free call.
We match your purchase entries with the GST data available to you and your TDS deducted and deposited with the entries in your books. Mismatches are flagged so that input tax credit and TDS credit are claimed correctly and returns are filed on accurate numbers.
Bank statements, sales invoices, purchase bills, expense receipts, payroll records, GST and TDS details, loan statements, a list of fixed assets and the opening balances or last year's financial statements.
Yes. We review what exists, rebuild the missing months from bank and invoice records, correct errors and bring the books up to date. This is often needed before filing overdue returns, an audit or a loan application.
We can work in the accounting software you already use or help you pick one that suits your business. Companies must use software that keeps an edit log and audit trail, so we check that as well.
The cost depends on the number of transactions, bank accounts, whether GST, TDS and payroll are included and how clean the existing books are. We give a clear quote after a free call, before you pay anything.
Are your books late, messy or taking too much of your time? Speak to our accounting expert today – the books review and the quote are free.
Tell us what you need and our team will get back to you with the right guidance.
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