Ananya Accounting Services: Outsource Accounting services of your Apartment / Housing Society/ Residential Welfare Association

Thursday, 20 October 2016

Outsource Accounting services of your Apartment / Housing Society/ Residential Welfare Association

We Ananya Accounting Services, wish to introduce ourselves as the accounting Service Company rendering the accounting services for the Apartments / Resident Welfare Associations/ Societies.

We undertake end-to-end accounting services right from doing data entries, book-keeping, bill collections to generation of financial reports at a very nominal cost.

Please note that we are also empanelled with Apartment Adda as their Accounting Service Partner in Bangalore.

Capturing of the accounting details and reconciling the same with the Bank Statement and also maintenance of proper accounting is very tedious activity and also since the Management committee members comes from different back-grounds and also due to their per-occupations, often find it difficult to maintain proper accounts and pass the accounting entries to appropriate accounting heads by applying the accounting rules.

Also, as per the Income Tax Rules, the following activities are required to be mandatorily complied by the Apartment Associations:-

a) Deduction of TDS amount

b) Submission of TDS Returns

c) Auditing of Accounts

d) Filing of Income Tax Returns.

e) Collection and Payment of Service Tax

f) Filing of Service Tax Return

You can now outsource the accounting work and be free to concentrate on other important assignment pertaining to your apartment. We also provide support/advices in other areas and Best Practices related to Society.

The accounting records are updated periodically so that the Management Committee Members/Residents can view the details on-line either through Internet or in the Mobile Apps.

As part of the outsourcing of accounts, the Scope of work includes the following:-

Sr.No.	Particulars	Remarks
1	Application of PAN/ TAN/Service Tax Registration Number	One Time activity
1a	Recording/Up-dating of Maintenance Receipts	Based on the Bank Statement, the members receipt will be updated into the Software periodically.
1b	Recording/Up-dating of Utility Receipts i.e. Water charges etc.	Based on the Bank Statement the receipts will be recorded.
2	Recording/Up-dating of the Expenses	Based on the Actual Bills, the expenses will be recorded into the software
2a	Recording/Up-dating of Petty Cash Details	Based on the Actual Bills, the expenses will be recorded into the software
2b	Maintenance of Fixed Asset Details	These needs to be updated at all times so that Members should know what are the fixed assets they are holding at any point in time.
3	Reconciliation of Bank Account with Cash/Bank Book
4	Payment of TDS Amount to the Government of India	This needs to be done on monthly basis.
5	Filing of TDS Return with Income Tax	This needs to be done on Quarterly basis.
6	Issuance of Form 16A	Based on prescribed due date
7	Payment of Service Tax Amount	This needs to be done on monthly basis.
8	Filing of Service Tax Return	This needs to be done on Half yearly basis.
9	Quarterly Executive Summary Report for the Residents	This report will be provided on Quarterly basis so that the same can be circulated to all the residents to keep them updated about the financial status of the Associations
10	Preparation of Final Accounts i.e. Balance Sheet/ Income and Expenditure Account and Receipts and Payments Statement	The Final accounts i.e. Income and Expenditure Account, Balance Sheet will be prepared after passing necessary adjustment entries pertaining to Depreciation, outstanding receipts and payments, Bad debts etc.
11	Auditing of Final Accounts	Facilitate auditing of Final accounts by a Chartered Account and passing appropriate adjustment entries, if any.
12	Filing of Income Tax Return	Facilitate filing of Income Tax return by the Chartered Account.
13	Filing of Returns with the Registrar of Society	Facilitate filing of Return with the Registrar of Co-operative Housing Society.