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Accounting - Overview

Competency, know-how, experience and expertise motivate us to offer a wide range of outsourcing services to our clients and helping them to manage heavy workloads and ease the burden. Taking peace of mind as an ideal, we provide a capable helping hand to our clients. Manish Anil Gupta & Co. is known for the best accounting and book-keeping services in Delhi.

 To support smaller companies, we have enhanced our base in the following areas: -

  • Accounting

We undertake accounting services to meet the requirements of small companies' requirements and multiple overseas organisations having subsidiaries in India. These entities need the data on a real-time basis. To meet such requirements, proper accounting plays an important role.

Some of the benefits of outsourcing the responsibility of accounting for your business include:

* Cost-saving:

Hiring a third party for your accounting work is generally more cost-effective than hiring someone internally. It saves the recruitment and training costs and relieves you from paying payroll taxes, salary, insurance premium, time-off etc. Moreover, hiring professional bookkeeping services  in Delhi allows access to a team of people with a variety of skills.

* Access to Expertise:

By outsourcing your accounting to a firm providing bookkeeping services India, you get access to an accounting professional with a wide range of expertise. This ensures that your books of accounts are always accurate, that your payroll is compliant and completed on time, and that you’re not at risk of penalties or regulation mistakes.

* Increased controls & reduced fraud:

If most of the business’ accounting functions are in the hands of one or two people, your business is at a greater risk of experiencing fraud. Hiring a third party to offer you book keeping services reduces this risk and allows greater internal controls.

* Helping Flexibility:

Outsourcing accounting to a third party helps to easily account for the flexibility of operations within the organisation. If you are maintaining the books yourself, you need to ensure that your in-house accountants are always busy to justify the compensation you are paying to them. On the other hand, managing the increased workload with the same number of accountants can become problematic if your business is scaling up. Hence, hiring an accounting firm that can easily absorb your accounting workload and keep your books up to date becomes feasible.

If you are seeking bookkeeping services for small business in Delhi, you can feel free to contact us as we offer the best Accounting Services in Delhi.
  • Payroll

Similarly, we use cloud-based payroll software to simplify the interaction between employee and employer, resulting in bettering their relations. Each employee shall get login credentials to make it easier for them to view/download payslips, upload reimbursement expenses/vouchers and investment declarations. We also consult in HR documentation services such as the issue of various appointment letters and HR policies.

Different components of salary structure in India

Employees’ salaries comprise several components, including a base salary, allowances, perks, bonuses, etc. Let’s understand these components in detail:

* Basic Salary

The basic pay is a fixed portion that forms 35-50% of an employee’s total salary. It is the amount before deducting or adding any bonus, overtime, or allowance to the salary.The basic pay is used to calculate most of the other components, such as allowances and is entirely taxable.

* Allowances

Employers offer various additional benefits in monetary terms to their employees over and above their basic salary. These monetary benefits are provided to meet various expenditures of employees and are called allowances.

Some examples of allowances are:

Dearness Allowance

: It is a fixed proportion of an employee’s basic salary that is paid to hedge the impact of inflation.

House Rent Allowance

: It is a special allowance granted to an employee by his employer towards payment of rent for the employee’s residence.

Leave Travel Allowance:

It is an allowance provided by employers to cover employee travel expenses when they are on leave.

* Gratuity

It is a one-time payment made by an employer to an employee leaving the employment. Gratuity is an amount given in appreciation for the services rendered by the employee throughout his tenure.

The Payment of Gratuity Act, 1972 states that an employee can receive gratuity if he has rendered continuous service of a minimum of five years with the employer. 

* Employee Provident Fund

Employee Provident Fund is a fund intended to provide benefits to an employee at the time of his retirement. A specified amount is deducted from the salary of the employee as his contribution towards the provident fund. The employer also usually contributes the same amount out of his pocket to the fund. The accumulated balance is paid to the employee at his retirement or resignation.If you are willing to learn more about the rules and taxability of provident funds and looking for PF registration consultants in Delhi, you can approach us.

* Perquisites

Perquisites, often known as fringe benefits, are some extra benefits that the employees may receive in addition to the regular salary and are generally attached to a job title. These may be in cash or kind. Examples of perquisites include things like a personal car, rent-free accommodation, payment of an amount by the employer to effect an assurance on the employee’s life, etc. Most of the perquisites are taxable in the hands of the employee.

* Variable Pay

It is the component of salary determined by an employee’s performance. It is paid to the employees as a performance bonus or reward when they achieve their pre-determined targets. As the name indicates, it is not fixed and depends on employees’ and the company’s performance.

* Reporting

We help prepare valuable reports and presentations for the investors and companies where the investments require periodic reports such as cash flow statements, profitability statements and return on investment.

* The shareholders of companies need financial reports to make decisions on what to do with their investments, i.e., to hold, sell, or buy more shares.

* Prospective investors need financial information to assess the company’s potential for success and profitability.

* Also, the lenders like banks and financial institutions require financial reports to check the ability of the organisation to pay back the debt and based on the analysis of such reports, they decide whether to lend funds to the organisation.

  • Compliance

At Manish Anil Gupta and Co., we have developed such a working culture to meet the compliance requirements of various business entities and includes multiple reports and returns submitted to different departments.  

Why us- Manish Anil Gupta and Co.?

  • Our professionals have substantial constructive audit and accounting experience.

  • We ensure prompt and affordable internal and statutory compliance.

  • We prefer to provide our clients with our supreme professionalism and serve them with the best of our competency.

If you are looking for accounting and book-keeping services in Delhi, please write to us at We shall escort you with our best services.

Frequently Asked Questions

Accounting Standards are written policy documents consisting of principles and guidelines for recognising, measuring, presenting, and disclosing accounting transactions or events in the financial statements.

Accounting standards improve the transparency in financial reporting and reliability of Financial Statements and make them comparable. They also prevent fraud and Accounting manipulations.
A Cash Flow Statement is additional information provided to the users of accounts in the form of a statement, which reflects the various sources from where cash was generated (inflow of cash) by the enterprise during the relevant accounting year and how these inflows were utilised (outflow of cash) by the enterprise.

All the companies except a one-person company, small company, dormant company and a private company being a start-up are mandatorily required to prepare a cash flow statement.
Projected Financial Statements are financial statements based on the estimation after considering past financial trends, market conditions, probable changes and management expectations to arrive at a future financial picture.

Projected financial statements help plan for the future. Projected financial statements are the way to review the possible outcomes before making a decision.
Form MGT 7 is used to file Annual Return. It has to be filed within 60 days from the conclusion of the Annual General Meeting.

Form AOC 4 is used to file Annual Accounts. It is required to be filed within 30 days from the end of the Financial Year.
Payroll can be defined as the process of providing compensation to employees for the work they perform on behalf of their organisations.

It is one of the most important aspects of a business as it affects employee morale and reflects a business’s financial stability and reputation. Errors in paychecks or untimely payments can create a lack of trust among employees. But when the compensation is accurate and delivered on time, employees are more engaged and motivated.
Bookkeepers focus on recording and organizing financial transactions, while accountants analyze and interpret financial data, prepare financial statements, provide financial advice, and contribute to strategic decision-making.
The accounting equation is a fundamental concept in accounting that states: Assets = Liabilities + Equity. It demonstrates the relationship between a company's resources, its obligations, and the owners' equity.
The cash flow statement tracks the inflows and outflows of cash within a company during a given period. It helps assess the cash-generating ability, liquidity, and operating, investing, and financing activities of the business.
The purpose of an income statement is to provide a summary of a company's revenues, expenses, and net income or loss over a specific period, reflecting its profitability.
Accounting plays a crucial role in business by providing financial information that helps in decision-making, assessing profitability, managing cash flow, meeting legal and tax obligations, attracting investors, and ensuring transparency and accountability.
When most accounting functions are handled by a few individuals within the organization, the risk of fraud increases. Outsourcing accounting services to a third party adds an extra layer of control and reduces the potential for fraudulent activities. Professional firms implement robust internal controls to safeguard financial operations. 
Financial reports serve multiple purposes for businesses. Shareholders rely on them to make decisions about their investments, prospective investors assess a company's potential for success, and lenders use them to evaluate an organization's ability to repay debts. These reports provide valuable insights into the financial health and performance of a business.
Accounting firms help businesses prepare financial reports and presentations for investors and companies. They specialize in creating cash flow statements, profitability statements, and return on investment reports. These reports provide crucial information for decision-making, investment analysis, and obtaining funds from lenders.
Accurate bookkeeping is crucial for businesses as it provides a clear and organized record of financial transactions. It helps in tracking income and expenses, maintaining tax compliance, preparing financial statements, and making informed business decisions based on reliable financial data.
Financial statements, such as the income statement, balance sheet, and cash flow statement, provide a comprehensive overview of a company's financial performance and position. They help in assessing profitability, liquidity, solvency, and overall financial health. Financial statements are vital for decision-making, investor relations, obtaining financing, and meeting regulatory requirements.

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