Legal251.com - Online Accounting

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Online Accounting

If you are looking for individual services along with experience and expertise, you have landed at the ideal location! We provide business owners and independent professionals with online accountancy services. Our experience is unparalleled, and our team is devoted to our customer's success.

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How to apply

Benefits

Standardized practices

Easier communication

Lesser dependency

Information available anytime

Peace of mind

Timely bookkeeping

Maintenance of bills

Tax preparation

Timely MIS reporting

Timely tax filing

Easy access to finances

Documents

Documents required for Online Accounting:-

Online Accounting

Monthly:

Bank Statement

Sales Bills / Service Bills

Purchase Bills

All Expenses (Bills / Vouchers)

All Incomes (Details / Documents)

All Loan Statements

Previous Year Balance Sheet / Audit Report

Previous Year Tally Data

Assets Purchase Bill

With Inventory:

Stock Summary as on Last 31st March

Don't have all these documents?
We will help you in preparing these documents

Just call on

Filing process

We collect & verify all the data related to your accounts provided by your company.

Our accounting professionals verify the data and the documents submitted by you.

The relevant expert will tally your accounts and fill in the required taxes.

After submission, we send all the documents to you online.

It would be best to wait until our expert contacts you to inform you about the completion of your accounts.

FAQs

FREQUENTLY ASKED QUESTIONS

Q1: What do you mean by Online Accounting?

Online accounting, occasionally referred to as cloud audit, is the practice of handling your organization's accounts and financial resources online by collaborating with a remote access bookkeeping firm.

Q2: What are the typical documents to be exchanged with Legal251 periodically?

The exchange of documents depends on the services you would like from us, accounting services, all the purchases, sales, bills, journal vouchers, payment vouchers, bank statements, etc. If it is just tax services, then the documents related to your Income, TDS details, Company's P&L, and Balance Sheet.

Q3: How Does Online Accounting Work?

Everything is managed remotely when you work with online accountants. You provide them with digital files and online access to your accounts. The accounting firm will often have online accounting software that you can connect to and use to collaborate on your financial health and development closely.

Q4: How secure is my financial data with you?

Yes, Online Accounting is very useful for every business type because it gives you the freedom to work from anywhere through any device. There is no need for managing heavy systems & files.

Q5: How secure is my financial data with you?

Legal251 adopts the best practices when it comes to maintaining confidentiality in our customers' data. We ensure your information is not leaked or disseminated to any third party.

Q6: What benefits does online accounting bring to my company?

Online accounting practices allow you to analyze complex financial data, generate reports that appropriately include quarterly and year-end closing records, monitor and check taxation concerns and filings, and so on.

Q7:Do I need to file for compliance even if there are no transactions?

Regardless of the number of transactions, every company has to get the compliance filings done. However, the process will be much simpler.

Q8: How do online accounting services function?

The process of online accounting is quite simple. It involves -
1.Compiling data
2.Preparing invoices/receipts
3.Verifying receipts
4.Matching the cash/bank statement
5.Income statement
6.Balance sheet

Q9: Is it mandatory to maintain a record of all financial transactions?

Yes, it is mandatory to maintain a record of all financial transactions. In certain cases, the Income Tax Act requires a mandatory audit, which is only possible if books are kept under the law. The Companies Act governs companies, and every company is required to file annual returns with the registrar of companies. Even if the company has not earned in a fiscal year, it is needed.

Q10: The compulsion of bookkeeping is mandatory under what statutes?

Several laws provide statutory support for bookkeeping rules and regulations:
Companies Act, 2013
Section 128 specifically refers to the books of accounts for the eight years preceding the current year. Section 25 companies that are solely formed as "Non-profit companies" must keep books of accounts for not less than 4 years.
Income Tax Act, 1961
Suppose the sale/turnover from the business or profession exceeds INR 25,00,000 or the income from business/profession exceeds INR 2,50,000 in any of the 3 preceding financial years. In that case, it becomes mandatory for the assessee to maintain books of accounts. Section 6F specifies the list of various books which need to be maintained as per the Income-tax Act, 1961 viz. Cashbook, general ledger, copy of bills & receipts. The books should be kept for 6 years from the relevant preceding year.

THEY TRUST US

Mr. Rajat Maheshwari

Director Rajat Gems & Jewellery Pvt. Ltd.

Legal251 is the best platform for getting consultancy be it in any legal domain they provide best solution for your query.I am satisfied with their work. What i was expecting i got it from Legal251. And I would really appreciate their cooperative work and how they deal and cooperate with their customers. They are the best in business as you may know. There are many complications in Filing GST & Income Tax returns for jewellery supply & design business they make all these very easy and efficient.

Mr. Chirag Jain

Director Samrudhi Innovation

For people like us who are surrounded by work, legal251 is like a gift. Be it a busy day, or a deadline, legal251 can always be counted upon. The customer service is always up to the mark and the advices and solutions are always promising. Within 48 hrs of the query you can have your solution in your hand, and all this, just a few clicks away and inside your pocket. Legal work is now on a whole different level.

Mr. Sachin Karma

Co-Founder Today's Bharat

Legal251 changes the very idea which most people have about getting any legal work done. Making the whole process so convenient and also online makes it so easy for everyone to work with. If talking about quality work, they have absolutely no match. A platform as big as Today's Bharat required a very complete and descriptive terms of condition and privacy policy. This was greatly achieved with the help of experts at
Legal251.

Mr. Vipin Soni

Well Known Financial Consultant

I'm thrilled to share my exceptional experience with LEGAL251. Their top priority is evident: providing the best and speediest solutions. Their professionalism and expertise stood out. The remarkable speed at which LEGAL251 operates truly sets them apart. Their responses were prompt, and packed with insightful guidance. Any queries I had were addressed immediately. For those seeking legal assistance that's efficient and of the highest quality, I wholeheartedly endorse LEGAL251.

Why Choose Us?

Growth & Improvement

We believe in growth and improvement at all costs. For us, growth is the law of life and it shall be fulfilled. We know the importance of business and its growth for you.

Support & Availability

We feel how much pain even a small problem or query can cause, that is the reason we are available to support you and solve any of such problems at every particular instance in time.

Experienced Team

All the members of our team are experienced individuals who believe in professionalism and customer satisfaction above all. Each one of them is passionate in their respective fields.

Focus

Any assigned task is of utmost importance to us, that's why our team members are always focused on taking care of even the smallest of our clients' needs and requirements.

Value for Money

We understand that the money being spent is hard-earned, therefore we utilize every single penny that you pay us in the most effective way possible hence providing the best value for money.

Care & Regards

We believe you to be a part of this family and that all your problems, as well as achievements, are our very own. Your interests are ours and their fulfillment is at the top in our regards.