What are the Important Services of a Chartered Accountant besides the Traditional Services

The accountancy profession has seen a rapid growth in the recent times, it is mainly because of the change in economic growth. The important types of functions performed by the various auditor firms in Chennai and other places are the following,

Accountancy
Accountancy means having writing up of accounts and also preparing financial statements. It includes a wide range of services from simple bookkeeping to other financial analysis.

Auditing
Auditing is one of the most important functions of a Chartered Accountant, as it amalgamates different skills such as specialized training, and judgment. Auditing helps show a true view of the affairs of the organization.

Taxation
A Chartered Accountant has immense experience in accounts and helps prepare the returns for tax purposes, representing assesses before the Income-Tax authorities and offering general advice on taxes to his clients.

Cost Accountancy
A Chartered Accountant helps to determine the varied costs of production and of processes at various levels of operations in manufacturing product and helps in the rendering a service. He/she provides costing information guiding the management and also provides cost control methods that would help the management in providing the right selling prices.

 Company Work
Chartered Accountants provides the perfect financial structure and the liquidation of limited companies.  They also undertake secretarial and registration work along with the duties of a receiver besides other company work.

Investigation
Chartered Accountants sometimes carry out investigations to find out the financial position of business in matters such as the purchase of a business, reconstructions, and amalgamations. Their services help in providing an efficiency in management or administration etc.

Companies Secretarial Work
In a group of companies, the Secretary is a man who comes with a professional qualification such as chartered accountancy. This helps the professional accountants to offer the right secretarial services to small companies.

Executors and Trustees
A Chartered Accountant often carries out the administration of the estate or settlements and he/she is an appointed executor under a will or trust. Here the chartered accountants need to work in tandem with the lawyers or solicitors. Lawyers too carry out different works to provide them the right assistance in the accounting part of their work.

Management Accounting
In this field too a Chartered Accountant is regarded as invaluable. He/she offers a number of services such as everyday control,  formulation of policies,  performance evaluation and so on.

So, an audit firm in Chennai or other cities of the country has numerous services to offer besides the more traditional services. No wonder, the need for a chartered accountant has been on the rise.

How do you Start a Tech Startup? What Steps Should be Taken to Start a Tech Startup

Trying to set up a startup and leave your day job? It is time you gave it a serious thought and mull over the pros and cons. set the start rolling with these tips.

1. Do a thorough market research

Yes, conducting a thorough research should be on the anvil to find out whether your idea is worth all the efforts you put in. Write it all down and keep it in front of you. You will be more aware of the problems and how can you solve the same.  

2. Secure intellectual property

Securing an Intellectual property (IP) signifies that you can own the rights to a created product. Examples are patents, copyright, and trademarks. 

3. Finalize the branding

Branding is not just choosing a name but it represents you and your ideology. Do secure your website domain name and other marketing materials, while you do so. 

4. Incorporation

 Incorporating is the process of transforming your business into a legal entity and deciding how it will be structured. Usually, start-ups are transformed into an LLC, a C corporation, or an S corporation. Both LLCs and S corporations enjoy tax exemptions, while when it comes to C Corporation it is considered a taxable entity.

5. Choosing a co-founder

A proper support is an ideal way to execute your execution. Investors examine the funding team first before considering the idea when going for an investment. So finding the right co-founder is really important. 

6. Pick a workplace

Picking up the right workplace is more important than most people give credit for.  Different types of work environment suit different types of working styles best. While some founders choose to work from home right at the start to save money, while others choose to rent at a co working space, do whatever suits you best. 

7. Raise capital

 Financial investment is very important for the company.  The right resources prove to be of enormous help, consider your capital investments and understand them before you take it to the next level. Decide on the amount of money you want to raise and how exactly it will impact your startup. Your next step will be to decide how much to raise and how will you raise the same, whether it will be through crowd funding, get it from an angel 9investor or via a traditional VC firm, then go for the kill. 

This list may not prove to be all-inclusive, just a few ideas around which you can work around, and your mode of work will be much individualized and you should consider the ones which suits you and your team and of course you can add a few of your own, when it comes to starting a start-up there is no one size fits all guideline. Get help from business consultants in Chennai or chartered accountants in Chennai or anywhere else for that matter to set the ball rolling.

Best Bookkeeping Services for Startups - A Quick Guide

Bookkeeping (Accounting) for startups is completely different to that of other small business. The guidance of a CFO ensures that it is ready for an audit at the perfect time. Outsourced accounting services can provide a startup with the right degree of expertise and reliability that helps you streamline operations and ensure growth.

Advantages of Bookkeeping Services

With the help of QuickBooks Online Edition, it will help maintain an Audit Trail for each transaction. You can team up with your accountant who will help you monitor information transactions. You will easily be able to gauge who keeps a tab on books and what information they can hold on to.

The system helps your employees together with the service provider to work in tandem and access to real-time company data, if you are in any part of the world, you can log in together. You won’t require any particular software or help maintain a complicated network or servers, which will help you save both time and money.

Accountingoutsourcing services in Chennai or different parts of the country and bookkeeping work can take a considerable amount of a business owners time. If you try to balance your company's accounting and all the other tasks as well, it can prove to be a mammoth challenge. Some startup owners solve these niggling issues by hiring an in-house accountant, which can prove to be expensive as you have to purchase a specific electronic accounting software, which may add to the problems because of a steep learning curve that involves with using a number of these programs. Instead of being submerged by a sea of numbers, you can consider taking help of Vramaratnam specialized startup bookkeeping services.

Why should you Require the Services of Quickbooks from Vramaratnam?

·         You will be able to access books at any time with the help of QuickBooks on the web.

·         QuickBooks boasts of a little more than 60 instant business reports and dashboards.

·         Customers can get invoice statements via email.

·         QuickBooks is competent enough to handle varied accounting functions.

·         It is a safe and secure service

·         You need minimum documents.

·         Last but not the least it is easy to maintain and economical as well.

Vramaratnam with their expert chartered accountants in Chennai offers great outsourced bookkeeping services for startups. They specialize in assisting startups to attain financial profitability. Vramaratnam’s online bookkeeping firm is just what you need that will help reach your business goals in terms of growth and debt reduction. Their team of experts considers your company more than just a balance sheet with various debits and credits. In fact, their certified bookkeeper who works for you, performing everyday day-to-day accounting work that is necessary to operate your business.