Profit & Loss Account and Balance Sheet
What is a Profit & Loss Account and Balance Sheet?
A Profit & Loss Account and Balance Sheet demonstrate the accurate financial condition of your business. at a given point of time. Together, they are known as Financial Statements. A Profit & Loss Account uses the details of incomes and expenses, ultimately showing the net profit or loss of a business. The Balance Sheet reflects your assets, liabilities, and equity of your business, showcasing the financial position of the business on a specific date. Together, they provide the essential basis for business accounting.
We prepare accurate and compliant financial statements in India for businesses of all kinds at GST Suvidha Centre.
Why are preaparing Profit & Loss Account and Balance Sheet Important?
Every business requires these reports for the following purposes:
- To determine profit or loss in a given period.
- Measures your Business Performance
- Helps in Financial Decision-Making
- Shows the True Financial Health of the Business
- Ensures Compliance and Transparency
- To support any tax and audit requirements.
- To apply for loans or investment.
- To monitor business expansion.
- Helps Track Growth Over Time
- Builds Trust With Stakeholders
With GST Suvidha Centre, your Financial Statements are prepared by qualified professionals, ensuring they are accurate and compliant.
What documents are required to prepare these reports Online?
- Purchase Bills / Invoices
- Sales Bills / Invoices
- Bank Statements
- Expense Bill
- Cash Book
- Stock Details
- GST Returns
- Loan Statements
- Fixed Asset details
- Investment Details
- Debtor & Creditor List
- Capital Account Details
- Any Other Financial Records relevant to your business
Can a Profit & Loss Account and Balance Sheet be prepared online?
Yes. You can easily prepare your Profit & Loss Account and Balance Sheet Online via GST Suvidha Centre. You can securely upload your documents to the GST Suvidha Centre portal online. Our accountants will prepare and provide your reports online, quickly and accurately. This online service is great for busy entrepreneurs looking for immediate paperless accounting support from anywhere in India.
What is the process to Apply Online for the preparation of a Profit & Loss Account and a Balance Sheet Online?
The GST Suvidha Centre helps with the preparation of your financial statements from the comfort of your home.
As part of this service, we provide the following:
- Preparation of Profit and Loss Account
- Preparation of Balance Sheet
Process to Avail the Service:
- Book a Consultation (Optional)
Visit our website to schedule a free consultation call if you require guidance before proceeding. - Select and Add the Service to Cart
Choose the Profit & Loss Account and Balance Sheet service and add it to your cart. You may opt to proceed directly without a consultation. - Upload Required Documents and Complete Payment
Securely upload all necessary documents on our portal and finalise the process by making the payment. - Back-End Processing by Our Team
Our team will carry out all required procedures and formalities using the documents you have provided. - Completion and Document Handover
Upon completion, we will send the reports of your business online.
We ensure 100% compliance and a hassle-free experience.
Can I apply to prepare financial statements of my business near me?
Yes, absolutely. You can apply online to have your Profit & Loss Account and Balance Sheet prepared from anywhere. With services like GST Suvidha Centre, you don’t need to find a local accountant. Your financial statements can be prepared professionally, accurately, and completely online, regardless of your location.
How much does it cost to prepare these reports for my business?
The cost of preparing a Profit & Loss account and Balance Sheet depends on the type of business it is being prepared for. For a proprietorship business, the price is ₹1,200 (exclusive of GST). and for all other forms of business, it is ₹2,500 (exclusive of GST). Please make sure no regular accounting will be done under this service.
Why should you choose GST Suvidha Centre for preparing your financial statements?
- Experienced Chartered Accountants and Tax Professionals
- Quick reporting with accuracy
- Comply with GST and Income Tax rules
- Personal service for every client
- Competitive pricing
We are trusted across India to prepare financial statements for businesses of every type.
Frequently Asked Questions:
Q1. What documents do I need to get a Profit & Loss Account and Balance Sheet prepared?
A. You need to share basic financial records like bank statements, sales/purchase bills, expense bills, GST returns, stock details, and loan statements. You may require to submit some additional documents as well as per the requirement.
Q2. Who will prepare these reports?
A. These reports will be prepared by our trained accounting professionals at GST Suvidha Centre, who ensure your Financial Statements are accurate, compliant, and ready for official use.
Q3. How often should these reports be prepared?
A. You should ideally prepare these reports quarterly and must prepare them at year-end to meet compliance requirements.
Q4. How long does it take to prepare the accounts?
A. Once all documents are received, we prepare the Financial Statements within a short time, depending on the volume of data.
Q4. Do you prepare financial statements for all types of businesses?
Yes, We serve all types of businesses, including individuals, partnerships, companies, traders, service providers, manufacturers, small businesses, startups, MSMEs and large organisations all over India
Q5. Will these statements be valid for loans, tax filing, or compliance?
Yes, all these reports prepared by GST Suvidha Centre can be used for bank loans, GST/IT returns, audits, and other compliance needs.
Q6. Can you help if my books are not maintained properly?
A. We assist with data organisation, corrections, and accounting support to ensure your statements are accurate.
Wherever you are in India, GST Suvidha Centre provides reliable and affordable Profit & Loss Account and Balance Sheet preparation services.
Contact us online on the website ‘gstsuvidhacentre.co.in’ to have your financial reports prepared upon your instruction quickly.
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