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 Switching a Partnership to a Private Limited Company Requirements A partnership firm must have at least 7 partners to convert to a private limited company. To convert to a private limited company it should have a minimum share capital of Rs. 1 lakh. The partnership deed has to be changed if it does not fulfill the above criteria. It must have at least 2 minimum Directors for converting to a private limited company. Partners can become the Directors as well as the shareholders. All the Directors must have the Director Identification Number. It is mandatory to have the Digital Signature Certificate of the two Directors.

  What is bookkeeping? Bookkeeping requires a lot of accuracies. It is the process of keeping a record of the day-to-day  financial transactions  of your business.  Bookkeeping  ensures that the financial transactions of your business are easy to comprehend and up-to-date. Tasks involved in bookkeeping Bookkeeping ensures keeping track of the numbers involved in a business in an organized way. It is useful for individuals and non-profit organizations as well. Below are a few mentioned transactions that need to be mentioned by a bookkeeper Loan payments Expense payments to suppliers Financial report generation Customer payment invoices Monitoring asset payments The importance of bookkeeping Thorough bookkeeping is important for businesses of all sizes. As easy as it seems to be, bookkeeping becomes a complicated task when tax, assets, loans and investments are introduced. Tracking financial activities of a business is the most crucial role of a bookkeeping servic...

  Running a business and simultaneously keeping up with bookkeeping can be stressful. Most of the business owners seek help for bookkeeping. At Aavana, our expert will ensure that your  Bookkeeping Services  are done promptly. We strive to build a lasting relationship with you and your company. Looking For Bookkeeping Services ? It is always important to appoint a professional bookkeeper to track your payables and receivables and keep all the Financial Transactions of your business properly documented. We also handle small business bookkeeping services. For further clarifications regarding bookkeeping and  Accounting Services,  get in touch with our experts Reliable Bookkeeping Services Bookkeeping necessitates the fundamental responsibilities which small to Medium Businesses need to execute while working closely with an accountant ensuring the accuracy of accounts. Bookkeeping is basically the management of day to financial activities of a company which is mont...

What is bookkeeping? Bookkeeping requires a lot of accuracies. It is the process of keeping a record of the day-to-day  financial transactions  of your business.  Bookkeeping  ensures that the financial transactions of your business are easy to comprehend and up-to-date. Tasks involved in bookkeeping Bookkeeping ensures keeping track of the numbers involved in a business in an organized way. It is useful for individuals and non-profit organizations as well. Below are a few mentioned transactions that need to be mentioned by a bookkeeper Loan payments Expense payments to suppliers Financial report generation Customer payment invoices Monitoring asset payments The importance of bookkeeping Thorough bookkeeping is important for businesses of all sizes. As easy as it seems to be, bookkeeping becomes a complicated task when tax, assets, loans and investments are introduced. Tracking financial activities of a business is the most crucial role of a bookkeeping service. A bu...

WHAT IS A DOMESTIC COMPANY?   A domestic company is a company that conducts its business in its home country. A domestic business will be taxed differently. They are required to pay duties or fees on the products that are imported. It is easy for a domestic corporation to conduct business in other states or parts of the country where it has filed its articles of incorporation. While speaking of domestic trade, the buyer and the seller are from the same country. Their trade agreements are based on the specific laws, practices, and customs that are followed by the country from which they operate. A few advantages include: Transportation cost is much lower Encourages the establishment of small scale enterprises The transaction cost is lower The period between the production and sale of goods is lesser Advantage of tax benefits Protection of business strategies Easy availability of raw materials promotes the growth of an industry. Helps in the expansion of foreign trade ...

  aavana.in Recording of the financial data of a business in an orderly manner which will help for future reference is termed as bookkeeping. Many businesses prefer outsourcing their bookkeeping to professionals rather than doing it on their own. Types of bookkeeping Single Entry Bookkeeping Businesses with minimal and uncomplicated financial transactions adopt this method of bookkeeping. This is a basic system of bookkeeping which a company uses to keep track of daily receipts or generate daily, a weekly report of cash flow. This system is not used for businesses that have accounts receivable, accounts payable or many capital transactions. However, this system cannot be used by a bigger business with a huge sum of financial transactions as it lacks arithmetic accuracy and is not acceptable for tax purposes. Double Entry Bookkeeping This type of bookkeeping is required by businesses that have complex financial transactions. This system provides checks and balances by recording a co...

14 Benefits of Accounting The foremost objective of maintaining books of accounts is to get information about the financial position of the business. Here are a few basic advantages of accounting Maintenance of permanent Business records Basically business will have a huge number of transactions. It helps in recording all the financial transactions on that respective financial year. A systematic order Accounting is a systematic way of presenting business transactions in books of accounts. It is a complete and systematic representation of business transactions. Accounting keeps a record and analysis of every business transaction. Decision making The main function of management is decision-making. Accounting helps the management to make better decisions to selling price, deduction of cost, increase in sales, etc. Valuation of business True and fair valuation of the business is calculated. Accounting helps in attaining the correct picture depicted in the balance sheet a...

  Bookkeeping necessitates the fundamental responsibilities which small to Medium Businesses need to execute while working closely with an accountant ensuring the accuracy of accounts. Bookkeeping is basically the management of day to financial activities of a company which is monthly, quarterly or yearly. Bookkeepers will refurbish your financial systems using  Financial Accounting  software or record hard copy of financial information. Accounts payable and receivable are generally supervised in bookkeeping services. Benefits Of Bookkeeping Unbiased opinion External bookkeepers can give you unbiased opinions regarding your businesses growth. External bookkeepers are capable of giving positive and negative feedback which are valuable information for the growth of the business. Lower turnover Internal bookkeepers are most likely to leave a business for better growth opportunities. If you outsource your bookkeeping services, you’ll never face the issue of hiring a bookkeepe...

  Why should I outsource my accounting? It is always better for a professional to carry out a professional’s job. Outsourcing your accounts will help you better focus on business goals and strategies. When you outsource your accounting services, make sure you outsource your accounting services to highly skilled professionals. Aavana is one such firm that will provide you with highly skilled accountants who will assist you in keeping track of your accounts. Outsourcing your accounting services to Aavana will help in better time management and also reduce your stress. How can I move from in-house to outsourced accounting services? Preparing to switch to an outsourced accounting firm is not very hard. Aavana will help you and guide you in each and every step cautiously with the best qualified and professional advisors. How will better accounting and bookkeeping services affect my business? If you do not have a sound financial practice in place, your business can suffer in a number of ...

  Presently the entire nation is in the era of technology and Bangalore is referred to as the hub of technology. Aavana offers cloud-based accounting services to all types of businesses which can be accessed anywhere in the world. We use the latest software like QuickBooks, FreshBooks, NetSuite ERP, ZohoBooks and others too. This technology makes the entire  Accounting Process  quicker, reliable and effective. Aavana, being one of the best service providers, has come up with a user-friendly  ERP  software called  AODRY  that can be used by any business entity. Its customizable features will surely leave your most difficult and stressful task of accounting and billing easier than ever before. This reliable software will help you keep track of your financial reports. Its customisable features will surely leave the most difficult task of accounting and billing easier than you’ve ever imagined. If you’re running the business and want to concentrate on how ...

  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. Accounting  is one of the key functions of all businesses. This key function is handled by an accountant in a small firm, or by a finance department with dozens of employees at larger companies. 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 AAVANA Accounting services made easy Accounting is one of the most important parts of a company without which the operations cannot be structured properly. Any kind of business entity is a startup or an existing one needs to have a channelized accounting system for consistent business growth. Accounting can be categorized into:   Financial Accounting -  This accounting format deals with th...

  Reconstruction Of Accounting Records In India Reconstruction of your business accounts by a  Professional Accountant  for several months or years may be required. Keeping track of the  Businesses Accounts  is a very crucial task that needs to be maintained by the Business Owners. This will give them clarity about the growth of their business. Choose Aavana and we’ll take care of your financial statement analysis and give you honest feedback regarding the growth and accounting of your business. Our experts will fetch the financial statement of a company and help in reconstructing the account record. Count on us to carefully analyze the balance sheet of the company and maintain the records. We not only help you reconstruct your accounting records but also, help you with your  Company Registration  needs. Contact Us Get in touch  with us today! We also offer FREE consultations!

  Accounting services made easy Accounting is one of the most important parts of a company without which the operations cannot be structured properly. Any kind of business entity is a startup or an existing one needs to have a channelized accounting system for consistent business growth. Accounting can be categorized into:   Financial Accounting -  This accounting format deals with the summary, analysis, preparation of financial statements and reporting of financial transactions for a business.   Management Accounting –  This type of accounting helps in financial and non-financial decision making information to the managers of a company.   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.   Tax Accounting -  Preparation of regular tax, sales tax and various other returns called...

PROCESS TO BE FOLLOWED FOR LIMITED LIABILITY PARTNERSHIP REGISTRATION One needs to follow these steps to start an LLP Registration in India. Appoint partners and designated partners Obtaining Digital Signature Certificate (DSC) Name Application process Prepare all legal documents Filing of documents electronically  File Incorporation with ROC  Apply for DPIN  Once the incorporation is received, Draft the LLP agreement  Filing of LLP Agreement with ROC.  Need to apply for PAN & TAN (Manually / online)

  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. Accounting  is one of the key functions of all businesses. This key function is handled by an accountant in a small firm, or by a finance department with dozens of employees at larger companies. 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 AAVANA Accounting services made easy Accounting is one of the most important parts of a company without which the operations cannot be structured properly. Any kind of business entity is a startup or an existing one needs to have a channelized accounting system for consistent business growth. Accounting can be categorized into:   Financial Accounting -  This accounting format deals with th...