Accounting & Bookkeeping Savvy
Every business deserves high-end accounting techniques and technology to run better bookkeeping processes. www.askforaccounting.com is technologically so advanced and designed with best-in-class tools that you always get the delivery of services within the time frame. It ultimately helps you forecast your budget, expenses and helps you invest wisely in your business.
A few clicks payroll mechanism that automatically generates pay-slips online with all taxes, deductions, allowances, breakdown and other financial aspects
It comprises all vital information which is required for the preparation of the financial statement. It comprises liabilities & assets, owner’s equity, expenses and revenue
Managerial accounting is known as the system of identifying, interpreting, analyzing, measuring and computing all financial information to follow organizational goals
Small Business Payroll Software
Payroll management is a high-end complex and technically advanced process as a large number of statutory compliance and calculations required. That’s why we suggest you have a completely secure, stress-free solution that minimizes complexity.
Ask for Accounting is the US’ best payroll management service provider portal which is far above its competitors. It is equipped with unmatched features to handle your payroll process.
International Accounting Standards
Financial & Tax Accounting System
As your accounting process grows, it becomes complex, prone to errors and time-consuming. Our scalable accounting solutions can help you fix complex accounting processes. We help you reconcile your bank accounts and generate financial reports for a smooth flow of business
It helps you hold a strong grip in your cash flow. It helps you categorize the flow of money and track expenses with the help of recorded information. With this feature, you can easily bill customers for the expenses you incur on their behalf
Inventory management is at the core of every business. Our inventory management features help you ensure sufficient stock and better customer services. It helps you record SKU, bundles, movement of items and serial/batch number
We have a powerful accounting module that helps you charge customers on the basis of the project time. It neither lets you do overbill or underbilling which ultimately helps you win the trust of your client/customer. You can also plan your budget according to your working hours
Income Tax Accountants
We have an advanced team of accounting and bookkeeping professionals who can help you carry out all the tasks right from the starting to the end of the process. Our accountants authenticate every process every time they run it
It is important for every businessman to keep a proper check on the growth of business on a periodic basis. It helps you observe and understand financial trends and helps you analyze your business growth and act accordingly for your business
We all know that there can be a lot more done in business if we just keep our focus on the business processes only.
This is actually true. Don’t get amazed. Focusing this way gives a drastic rise to business processes. Every business contains n number of administrative and operational tasks that are to be taken care of exponentially. And to this, the left is bookkeeping and accounting tasks for which we are here to provide you with complete and comprehensive assistance.
Why outsource your accounting tasks to www.askforaccounting.com?
Value for Money
We have tailor-made accounting solutions. So, we can customize it according to your business requirement. We have made available all types of services – from limited to comprehensive services through accounting software, cloud-based accounting solutions and online accounting solutions
Gives a Continuous Flow to Your Business
Time devoted to your business tasks doesn’t let you focus on your accounting and bookkeeping processes. But if you outsource your accounting processes to us, your complete focus can be shifted and kept on to your business administrative and operational process. We know how to take care of it
Achieve New Heights
We have a wide range of accounting and bookkeeping outsourcing services and you can get direct access to all our services and accounting experts who are readily available to provide you with complete and comprehensive support, listen to and entertain all your queries properly
Save Time and Money
There are basically three main reasons due to which you should outsource your accounting tasks now. It helps you save time and money, you don’t have to hire professionals, you can directly connect with our professional experts anytime
We have a very organized work structure that starts with the compilation of the transactions, data and other details
Then an analysis report is taken out to verify data authentication. This is on the basis of the data that we have extracted
Data Sent for Approval
The verified data which is prepared by experts is then sent for approval. Once the approval is received, we start our process to the next step.
Preparation of Balance Sheet
As the approval has been received, its time to prepare the PNC statement and the balance sheet of the same account
Congrats – The Process is Complete
The books of accounts are now prepared. It will now be sent to you for the submission.
Our Services Include:
Accounting and Bookkeeping
|Tax Compliance and Reporting||Payroll Reporting|
|Budgeting and Forecasting||Risk Management||
Web-based Software Solutions
What are Accounting Services?
When it comes to finances, the task becomes complex automatically. It is all about recording, consolidating and summarizing data and transactions in the most significant manner to give it financial characters and interpret the best possible result out of it. The reason behind our assistance on the services is to get all financial data accumulated and provided in the financial report such as Profit & Loss Statement, Balance Sheet and Cash Flow Statement. GST and Income Tax laws are also to be taken care to maintain your books of accounts either manually or getting help from the computerized system. That’s when our customized accounting and bookkeeping services fall into place to provide you with the best-in-class services all the time.
If it is your non-core aspect of the business, you need to outsource it as soon as possible. This helps you focus more on the core business model and other important operational aspects of the business. It reduces the core focus from the surrounded services and helps business owners focus more on what best can be done in business.
Here’s what just some of our clients have said
Everything with my Payroll works fine now. The Solutions team was highly helpful and helped me fixing my issue in no time. I am grateful, all thanks to them. Thanks for your support(Solutions). Sage has never been easy for me, but with your technical help, things are now falling in place. What I like about AskforAccounting.com is their Solving on demand.
I never wanted to deal with all these accounting errors, thus I heard these pros. Now I have been with them from the last 3 years and happy with their services.
What is a general ledger account?
General ledger account is used to store, summarize and sort company’s transaction. Such accounts collaborate in the general ledger that comes under the balance sheet followed by the income statement.
Asset account – Account receivable, investment, cash, land and equipment
Liability account – Expenses payable, accounts payable, customer deposit and notes payable
What is the difference between Creditor and Debtor?
Debtor: When an enterprise or person owns an amount of money to another party. Another party can be the lender, bank or supplier
Creditor: The enterprise, bank or creditor that has lent credit or extended money to another party. The party to whom the credit has been granted is the debtor.
How to determine the cost of sold goods?
The cost of the sold goods is the cost sold by the manufacturer, distributor and retailer. It is taken as the expense of the accounting period and reported under the income statement. To match the principle of accounting, the revenue from the sold goods should be matched with the cost of goods sold.
What is the difference between accrual basis and cash basis?
Cash basis: The income statement reported as revenue for the period in which cash is received from the customer/client.
Accrual basis: The accrual basis projects an overview of the company’s profit over a period of time. The revenue comes under the income statement when it is earned.
What do you mean by account reconciliation?
Account reconciliation means documenting or proving that the account balance is correct. Now, before issuing the financial statement of the company, collect all the assets and balance ending proofs to confirm reconciliation of the account.
Define Nominal Account
Nominal accounts are basically known as a general ledger account that is prepared at the end of every financial year. This closing process the end of the year balance into the general ledger account or the permanent account. Basically. the company’s income statement and owner’s drawing statement is covered in the Nominal Account.
How to define Owner’s equity?
There are basically three components of the balance sheet of Sole Proprietorship and Owner’s equity is one of them. It is known as a residual claim of business assets as liabilities carry higher claims. It is also one of the components of the accounting equation: Assets = Owner’s Equity + Liabilities
Elaborate the difference between stocks and bonds?
Shares or stocks represent the ownership of an individual in the corporation. Some corporations issue preferred stock in addition to the common stock that most of the corporations offer by default.
Bonds are referred to as long-term debt issued by the corporation that promises to pay the fixed principal amount at the time of maturity.
Differentiate between Gross Profit and Net Profit?
Gross Profit: It is the profit that the company makes after deducting all the costs that rely on the manufacturing of the product, sale of the product and providing its services.
Gross Profit = Revenue – the cost of goods sold
Net Profit: Net profit includes the cost of goods, general expenses, administrative expenses and losses. It means net sales minus expenses.
How to prepare for the budget?
It is the method of preparing the projection of future expenses such as capital budgeting and operational expenses. It includes sales amount, producing goods amount, department’s expenses and disbursement of cash expenses. These are actually defined and used as guidance for the next year’s budget and business activities.