BCL India provides a wide range of services like bookkeeping, tax preparation, financial reporting, payroll processing, auditing, financial analysis, advisory services etc., We collaborate with the business closely and manage bookkeeping tasks like recording transactions, accounts & ledger maintenance, bank reconciliations, managing accounts receivables and payables, cash flow & budgeting and preparation of financial statements: Trial Balance, Statement of Profit and loss and Balance Sheet, periodical MIS report preparation, reconciliation of statutory reports, compliance of accounting standards, compliance with other laws and so on.
Along with accounting services, BCL also offers management reporting services. BCL provides periodic variance analysis reports, employee attrition rate, AR/AP cycle, working capital cycle, etc. We use tools like Zoho analytics and Power BI Customised reports in line with your business model Which helps in contemplating critical decisions.
Beyond sophisticated book-keeping, an accounting firm can also assist you with the management reports monthly. Management Reporting consists of the precise, relevant and latest information regarding the performance of any business.
It is carried out by documenting, analyzing and communicating the financial affairs of a business such as comprehensive income statement, balance sheet & cash flow statements, profit & cost reporting, performance dashboards of KPIs, notes to major balances, budgeting and variance reporting and explanatory commentaries over specific periods – monthly, quarterly or yearly basis.
The management report provides you with visibility to the overall performance, helps you strategize your operations, increases your credibility & creditworthiness and also discloses the financial information to stakeholders that include investors, the public, lenders, and government agencies.
Our offerings of management reporting guarantee reliable, on-time, accurate and engaging reports that is custom curated for each of our customers according to their business operations and requirements.
Yes, maintaining books of accounts is mandatory according to Income Tax Act 1961, GST Act 2017, LLP Act, 2008 & Companies Act 2013.
Yes, BCL relies on cloud based accounting software systems to enhance performance and delivery while reducing human intervention and possible errors.
Software suits you use according to client’s requirements. We mainly use Zoho books.
According to the Companies Act 2013, Books of accounts need to be maintained for a period of 8 years from the end of the relevant financial year.
According to the Companies Act 2013, if Managing Director, the whole time director, Chief Financial Officer or any other person of a company charged by the Board contravenes to maintain the books of accounts, such person of the company shall be punishable with fine which shall not be less than fifty thousand rupees but which may extend to five lakh rupees. Apart from this there are various other penal provisions under other enactments like Income Tax Act, GST etc.
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