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Grow your small business or start-up with Lekhakar as your small business accounting service provider. Small business accounting can be simple but it is different from big firms
As a start-up owner, you will require advice on accounting activities and follow compliance. Lekhakar is here to guide you through your accounting process.
In large companies where a substantial number of accounting transactions happen each day, a double-entry accounting system is adopted. But small businesses have fewer transactions, hence they use the Accrue method.
In the Accrue method you only make an entry in your books if you spend money or have an income. The system can help you track your earnings or expenses but in the long run, it will not be effective for your business.
Besides, as a small business owner, you will need advice to make important financial decisions. On the contrary, large companies have a team of professional accountants to help the management to make informed decisions.
Avail our small business accounting service today to be ahead in a competitive industry.
Our services include:
Modern accounting activities happen mostly using cloud computing technology. In a cloud computing technology, accountants, you or other authorized personnel can access financial data from a secured online platform. Accountants can access relevant files from remote locations and perform the task as required.
Use Lekhakar’s small business accounting service to get started with new cloud computing technology. We offer a wide range of cloud-based professional accounting services.
Even if you are a small company with five to six employees, you need to calculate their gross and net payments. After all the calculations you will need to process the payment for your employees. A timely payment processing reflects that you value your employees and that the company is in good financial condition.
Avail our small business accounting services and relieve yourself from the complex payment processing system.
Businesses cannot survive without credit facilities from both buyers and sellers. Accounts payable lists names of organisations and clients to whom you owe money. You should maintain an accurate accounts payable list to help yourself understand the financial situation of the business and pay them on time. It helps maintain the credibility of your business and clients feel motivated to do more business with you.
With Lekhakar’s startup accounting services, you can make your start-up business a dream come true.
On the other hand, accounts receivable is the list of clients who owe you money. In accounting, the amount they owe to your business is considered to be assets. Knowing the asset status helps your business grow. You can make an informed plan on exploring new business opportunities.
For a better-informed making practice, try small business accounting services by Lekhakar.
As your business grows, you'll need to report on the assets of your inventory. Managing or accounting for inventory involves keeping count of raw materials, half-processed goods and final processed goods. You cannot determine their financial values through the Accrue method, you need to use an advanced double-entry accounting method.
Know the real asset value of your company, hire our small business accounting services.
You should keep track of all the expenses that you have made for your business. For a start-up or single-owner business, it can be confusing to differentiate between personal expenses and business expenses. If you do not differentiate between these two types of expenses, you may shortly be out of business for over-expenditure.
Closely monitor your personal and business expenses with Lekhakar’s startup accounting services.
Financial statements like balance sheets, revenue statements, etc. help to understand the financial health of your company. With the growth of your start-up business, you will require financial statements to comply with tax norms. Besides, it helps in making strategic business decisions for your start-up.
With Lekahakar’s small business accounting services, prepare relevant financial statements to help you make valuable business decisions.
Your business will be required to file tax returns at the end of the financial year. You'll need expert advice or a helping hand in filing tax returns of GST for your business. If you comply with tax regulations and file taxes on time, it will help your business grow.
Choose Lekhakar to get advice and support in filing tax returns for your business.
Budgeting helps in determining your spending plan based on your income. It describes areas of strategic importance for you to allocate resources. It also estimates possible income sources. If you carefully plan the budget for your start-up, the business can grow with more financial strength.
Our small business accounting service will help you avail the best accounting professionals in the industry with years of experience. Besides, we use cloud-based accounting software to make your small business accounting error-free. You can access your accounting data and reports through our online accounting software platforms or ask the experts for their valuable advice.
Professional accountants of Lekhakar are experts in providing accounting solutions to small businesses. They help businesses to avoid accounting mistakes and help them comply with financial and tax norms.
For your small business, you may opt for the option of maintaining your business accounts for yourself, you can outsource small business accounting services or you can employ an in-house accountant.
However, the most feasible option for your small business with limited financial resources will be to outsource accounting services. It will save you hiring costs and monthly payments for the accountant.
You may try to do your accounting for your business. Accounting is a complex process and requires expert advice and knowledge. In the long run, you may find it difficult to manage your business work and accounting for the business. Ultimately you don't want a faulty accounting system for your business. We recommend you get it done by professionals.
The frequency of your account management activities will depend on the size and scale of your business. For small businesses with fewer transactions, weekly accounting may be enough.
A quality bookkeeping service helps you increase cash flow for the business, file taxes on time and avoid unnecessary fines. If you systematically maintain accounts for your business, you can track unnecessary expenses. You can plan and make decisions based on financial reports to lower production costs
