Tally bookkeeping
Complete books kept in Tally, reviewed every month and ready for filing.
Financial statements
Balance sheet and profit and loss prepared in a standard format with notes and schedules.
About Financial statements
Financial statements show how your business performed and where it stands: the profit and loss account, the balance sheet, schedules and notes. They are needed for your income tax return, bank loans, tenders, partners and investors. We prepare them from your Tally books in a standard format with the current and previous year side by side.
We check closing balances against Tally, group accounts under the right heads, review debtors, creditors, loans and fixed assets, and prepare depreciation and the capital account statement.
Who needs it
- Proprietors, firms, HUFs, LLPs and companies
- Businesses applying for loans or tenders
- Clients who have a draft and want it checked
Documents required
What we need
- Tally data or trial balance for the year
- Bank statements and loan statements with interest certificates
- Fixed asset purchase and sale details
- Stock statement with valuation basis
- Debtor and creditor lists with balances
- Previous year's financial statements
- Capital, drawings and partner details
Exact requirements can vary with your case and the authority. We confirm the final list when you contact us, so you collect everything once.
How we do it
- Review the booksWe review the trial balance and ask about unusual balances.
- Prepare statementsBalance sheet, profit and loss, schedules and depreciation are prepared.
- ReconcileWe tie the statements back to Tally and to the previous year's closing.
- FinaliseWe share the draft, agree adjustments and issue the final statements.
Time it takes
Usually 3 to 7 working days after the books are complete.
Frequently asked questions
Do I need an audit?
That depends on turnover, the type of entity and the law. If your case needs an audit or certification by a practising Chartered Accountant, we tell you at the start and coordinate it.
Related services
Income tax return filing
Accurate returns for individuals, HUFs, firms, LLPs and companies, filed on time.
Bank reconciliation
Match your bank statement with your books and find what is missing on either side.