Accounting & Bookkeeping Services & MIS

Accurate accounting is not just about recording transactions it is the foundation of tax compliance, financial control, and business decision-making. Unfortunately, many businesses operate with incomplete, delayed, or unreliable books of accounts, only realising the consequences when notices, audits, cash-flow issues, or reporting requirements arise.

Inconsistent bookkeeping leads to:

• GST and Income Tax mismatches

• Incorrect profitability analysis

• Cash flow surprises

• Weak defence during scrutiny or audits

At Karnani & Co., Chartered Accountants, we provide end-to-end Accounting & Bookkeeping services focused on accuracy, structure, compliance alignment, and meaningful MIS reporting, so that your books are not just maintained but useful.

The Real Problems Businesses Face With Accounting

Most accounting issues are not due to lack of software, but due to lack of structure and oversight. Common pain points include:

• Books updated months after transactions occur

• Differences between accounting records and GST returns

• No clarity on actual profitability despite healthy turnover

• Mixing of personal and business transactions

• Inconsistent treatment of expenses, assets, and liabilities

• Accountant-dependent data with no internal visibility

• Panic clean-ups only when notices or audits arise

By the time these issues surface, correction becomes costly, time-consuming, and risky.

What “End-to-End Accounting” Actually Means

Our accounting services go beyond basic bookkeeping. We take ownership of the entire accounting lifecycle, ensuring that records are:

• Timely

• Accurate

• Consistent

• Reconciled

• Compliance-ready

And most importantly usable for decision-making.

Our Accounting & Bookkeeping Services – Scope of Work

1️⃣ Transaction Recording & Ledger Maintenance

• Recording of all business transactions

• Proper classification under appropriate ledgers

• Periodic review to ensure consistency and accuracy

• Maintenance of general ledger and subsidiary records

2️⃣ Bank, Cash & Balance Reconciliations

• Regular bank and cash reconciliations

• Identification and resolution of differences

• Control over unexplained entries and adjustments

• Clean audit-ready balances

3️⃣ GST & Compliance Alignment (Accounting Perspective)

• Alignment of books with GST returns (GSTR-3B, GSTR-1)

• Identification of mismatches at an early stage

• Accounting treatment consistent with GST law

• Support for ITC tracking and reconciliation

(Note: Compliance filing may be handled separately where required.)

4️⃣ Fixed Assets, Depreciation & Closing Entries

• Fixed asset accounting and depreciation

• Periodic review of asset records

• Month-end / year-end closing entries

• Provisions, accruals, and adjustments

5️⃣ MIS Reporting & Financial Visibility

• Monthly or periodic MIS reports

• Profit & loss analysis

• Expense trend and variance analysis

• Basic cash-flow visibility

• Reports customised for management needs

This ensures that accounts are not just “closed”, but understood.

6️⃣ Year-End Finalisation & Audit Readiness

• Year-end account finalisation support

• Preparation of schedules and reconciliations

• Coordination support for statutory or tax audits

• Structured records for assessments and appeals

How Our Accounting Engagement Works

Our accounting services are process-driven, not person-dependent.

Typical engagement flow:

1. Understanding business operations and existing records

2. Reviewing current accounting structure and gaps

3. Setting up a clean and consistent accounting framework

4. Periodic bookkeeping and reconciliation

5. Regular review and reporting

This ensures continuity, reliability, and reduced dependency on individuals.

Who This Service Is Best Suited For

Our Accounting & Bookkeeping services are ideal for:

• Small and mid-sized businesses

• Promoter-led enterprises

• Businesses with GST and Income Tax exposure

• Entities requiring MIS and financial visibility

• Businesses planning growth, funding, or restructuring

Why Choose Karnani & Co.

• ✔ Chartered Accountant–led oversight

• ✔ Strong focus on accuracy and compliance alignment

• ✔ Structured processes and documentation discipline

• ✔ Integration with GST, Income Tax, and advisory services

• ✔ Clear communication and defined scope

We view accounting as a business control system, not a clerical task.

Frequently Asked Questions (FAQs)

Is this service limited to basic bookkeeping or data entry?

No. Our services cover end-to-end accounting, including reconciliations, reviews, and MIS reporting not just transaction entry.

Will proper accounting help during GST or Income Tax scrutiny?

Yes. Clean and reconciled books significantly reduce risk during GST scrutiny, ASMT-10 notices, Income Tax assessments, and audits.

Do you work with existing accounting software?

Yes. We work with common accounting systems such as Tally and Zoho Books, and can align accounting practices with the software already in use.

How frequently are accounts updated?

Frequency depends on business needs and transaction volume. Most engagements involve monthly or periodic updates, followed by review and reporting.

Can this service be combined with Virtual CFO services?

Yes. Accounting and bookkeeping often form the base layer for Virtual CFO and advisory engagements.

How are professional fees structured for accounting services?

Fees depend on transaction volume, complexity, reporting requirements, and scope of services. After an initial review, the scope of work and fee structure are communicated transparently before commencement.

Speak With a Chartered Accountant

If you want reliable books, compliance-ready records, and meaningful financial reports, our Accounting & Bookkeeping services provide a strong foundation for your business.

📞 Contact us for a confidential discussion to understand how your accounting can be structured better.