Monthly MIS Reports — What Should Actually Be In Them
A good monthly MIS (Management Information System) report includes a P&L summary, cash position and runway, budget vs actual variance, key operational metrics tied to the business’s stage (like burn rate for startups or receivables aging for services businesses), and a brief written commentary explaining what
Read MoreHow to Prepare Financial Statements Under Schedule III Complete Guide
Schedule III of the Companies Act 2013 prescribes the mandatory format for preparing financial statements in India, A vertical Balance Sheet classified into current and non-current assets/liabilities, a Statement of Profit and Loss, a Cash Flow Statement (for non-small companies), and detailed notes to accounts. Division
Read MoreCommon Payroll Compliance Mistakes Indian Employers Make
The most common payroll compliance mistakes Indian employers make include structuring basic pay too low to reduce PF contribution (now explicitly non-compliant under the Labour Codes), excluding contract workers from PF/ESI when the principal employer remains liable, missing the 15th-of-month PF/ESI deposit deadline, incorrect TDS regime
Read MoreGuide: CTC breakdown Salary Structure in India
CTC (Cost to Company) is the total amount a company spends on an employee annually — including basic pay, allowances, employer PF/ESI contributions, and other benefits — not the amount an employee actually receives in hand. Take-home salary is CTC minus employer-side contributions (which never reach
Read MoreGST Reconciliation in Bookkeeping — Why It Matters
GST reconciliation is the process of matching what’s recorded in your books against what’s actually been filed in your GST returns (GSTR-1, GSTR-3B) and what appears in GSTR-2B (auto-populated Input Tax Credit data from your vendors’ filings). Doing this monthly, rather than only at year-end, catches
Read MoreWhat is a Virtual CFO? Does Your Startup Need One?
A Virtual CFO is an outsourced financial strategy service that provides the analytical and planning work of a Chief Financial Officer — cash flow forecasting, investor-ready reporting, budgeting, and fundraise support — without the cost of a full-time in-house hire. It’s distinct from bookkeeping, which handles
Read MoreIn-House vs Outsourced Accounting — Which Is Right?
Outsourced accounting is generally more cost-effective for businesses under roughly 20-30 employees, since a full-time in-house accountant’s salary and overhead often exceed the cost of an outsourced service handling the same scope. In-house accounting starts making sense once transaction volume, payroll complexity, or the need for
Read MorePayroll Processing Checklist for Small Businesses in India
Monthly payroll processing in India involves collecting attendance and leave data, calculating gross salary and statutory deductions (PF, ESI, TDS, Professional Tax), generating payslips, disbursing salaries, and depositing statutory contributions by their respective due dates — PF and ESI by the 15th, TDS by the 7th
Read MoreNew Labour Codes Employers 2026— What Changed for Employers
India’s four Labour Codes — the Code on Wages, the Code on Social Security, the Industrial Relations Code, and the Occupational Safety, Health and Working Conditions Code — came into effect on 21st November 2026, replacing 29 older central labour laws with a consolidated framework. For
Read MoreProfessional Tax in India — Complete State-Wise Guide
Professional Tax is a state-level tax on employment and trades, deducted by employers from employee salaries and remitted to the state government. Not every Indian state levies it — states like Maharashtra, Karnataka, West Bengal, and Tamil Nadu do, while others like Delhi and Haryana don’t.
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