FAQs on Accounting

Q. What do you mean by Accounting / Book Keeping?

By Agam Gupta 30 Mar 2016

Traditionally, accounting is defined as an Art of summarising all the finance related transaction in such a way, that it gives you a clear and transparent view of your business.

Tags ACCOUNTING COMPANY

Q. How sooner or early is the accounts and bookkeeping part need to be arranged and confirmed?

By Agam Gupta 30 Mar 2016

The best way to do the accounting in a company is to do accounting on Accrual basis that means whatever income you have earned or whatever expenditure you have expended should be recorded in the books at the time of happening of the event not at the time of actual monetary transaction happens.

Tags ACCOUNTING BOOK KEEPING ACCOUNTS COMPANY

Q. How will HUBCO take care of your organization’s entire accounting practice?

By Agam Gupta 30 Mar 2016

Hubco comprises of a team of specialized Chartered Accountants who heads your accounting assignment, review each and every transaction fed into the accounting system.

Tags ACCOUNTING COMPANY

Q. When I incur an expense, shall I require keeping a record of the invoice or bill raised by the seller/service provider/vendor. Anything else?

By Agam Gupta 30 Mar 2016

When you incur any expense or earn any income, you need to keep the invoice copy with yourself to make us possible to do the accounting properly.

Tags EXPENSE ACCOUNTING COMPANY

Q. Is there anything which needs to take care of us Like TDS deduction or something and how Hubco will go to help us?

By Agam Gupta 30 Mar 2016

Proper section applicability while deducting TDS and Proper base of calculation of TDS should be there.

Tags TDS ACCOUNTING

Q. What will we do if Client pays us less after deducting TDS?

By Agam Gupta 30 Mar 2016

In that case, the clients of your organization shall deduct TDS on the billed amount and pay the net amount.

Tags TDS ACCOUNTING COMPANY

Q. If I am a Service Provider do the accounting is something Different?

By Agam Gupta 30 Mar 2016

If you are a service provider and your service turnover in a year exceeds 10 Lakh then you need to go for a Service Tax registration.

Tags SERVICE ACCOUNTING COMPANY

Q. What is best way to do the accounting in a company?

By Agam Gupta 30 Mar 2016

The best way to do the accounting in a company is to do accounting on Accrual basis.

Tags ACCOUNTING COMPANY