Accounting

Accounting refers to the process of keeping financial records pertaining to the business. It involves the process of recording, summarizing, analysing and reporting all the transactions.

The reports generated by various streams of accounting are useful for business decisions. These reports give detailed information about the financial status of the business.

ACCOUNTING SERVICES OFFERED BY Novelstrat

1. Accounting services made easy
2.  Financial Accounting – This accounting format deals with the summary, analysis, preparation of financial statements and reporting of financial transactions for a business.
3.  Management Accounting – This type of accounting helps in financial and non-financial decision making information to the managers of a company.
4.  Auditing – Audit is very important for an organization which scrutinizes the books, accounts, statutory records, documents and vouchers for presenting a fair and true picture of the financial scenario of the company.
5.  Tax Accounting – Preparation of regular tax, sales tax and various other returns called tax accounting needs experts to execute it. This is a set of accounting principles that govern the taxes of a company which is enforced by the law and different from general accounting principles.
6.  Cost Accounting – Good cash flow management can improve a company’s liquidity. reduce costs and increase profitability. This is a procedure of allocating costs connected with a process, and then developing various courses of action to control the costs.
7.  Payroll Services – Accounting services provide varying degrees of payroll services that include preparing payroll, calculating taxes and other withholding and issuing checks. You can also outsource filing of payroll taxes, calculate and record deductions or other employee benefits to Novelstrat.
8.  Statutory Compliances – Statutory compliances are very much needed for a company in terms of employees. Our accounting team is well versed with the compliances that a company has to follow in terms of tax deductions, minimum wages to be fixed, ESI Fund and PF Deductions, Professional Taxes, Gratuity and other employee-related services.
9. Virtual Accounting – With the expansion of your business, the scope and value of your business are also likely to grow. Virtual accounting is one such accounting service that will help businesses deal better with their accounting services with the help of qualified accountants who will work remotely. Virtual accounting is flexible, efficient and cost-effective.
10. Professional Accounting – For the accounting services to be executed and curated correctly you need a team of professional Chartered Accountants and Company Secretaries who will become an integral part of the accounting body. We offer expertise in the areas of auditing, cash statements and management of financial statements, and more.
11. Tax Planning – The main purpose of tax planning is to ensure that there is proper tax efficiency. With proper tax planning, all financial activities will work in the most tax-effective way possible.
12. Consulting Services – When it comes to accounting consulting services, you will require nothing but the best services. Our staff will help you better analyse your financial information to make better business decisions. We’ll help you foresee the financial situation of your company.