Bookkeeping that keeps your GST, tax and bank work simple
Most problems we see in GST notices, loan files and income-tax scrutiny start with books that were written up once a year from a bag of bills. Entries made months late do not match the GST returns, the bank balance does not tie, and nobody can tell which customer still owes money. Regular bookkeeping avoids all of this.
KSV keeps books for businesses across Gurugram in Tally and TallyPrime, every month, and reconciles them with the bank, the GST portal and marketplace reports before the month is closed. The same books are then used for your GST returns, TDS, income tax, bank loan papers and audit.
What our monthly bookkeeping includes
| Area | What we do |
|---|---|
| Sales | Tax invoices, credit notes and B2C summaries entered with the correct GST rate, place of supply and HSN or SAC |
| Purchases and expenses | Purchase bills, debit notes and expense vouchers with GST input split correctly; blocked credit kept out |
| Bank and cash | All bank accounts entered from statements; cash book from vouchers and petty cash records |
| Debtors and creditors | Bill-wise outstanding for customers and suppliers, with ageing |
| Payroll | Monthly salary, PF, ESI and professional deductions, advances and reimbursements |
| TDS | Deduction entries under the correct section, payable ledgers and challan matching for TDS returns |
| Fixed assets | Additions, disposals and depreciation, with an asset register |
| Month-end | Bank reconciliation, GSTR-2B matching, provisions and a monthly MIS |
GST-ready ledgers
Your GST returns are only as good as the books behind them. We set up ledgers so that GSTR-1 and GSTR-3B can be prepared from Tally without reworking.
- Separate ledgers for CGST, SGST, IGST and cess, input and output, and for reverse charge liability.
- Sales and purchases tagged by GST rate and type of supply, including exempt and nil-rated items.
- Purchase bills matched with GSTR-2B every month, with a list of invoices your suppliers have not reported.
- Credit not allowed by law, for example on certain motor vehicles and food, kept out of the input ledgers from the start.
Our GST return filing service uses these books directly, so the returns and the accounts stay in agreement through the year.
Accounting for e-commerce sellers
Online sellers have the hardest books to keep, because one marketplace payout combines sales, returns, commission, shipping, penalties, TCS and TDS. We book each element separately:
- Sales and returns from the marketplace tax report, state by state, so that GSTR-1 matches the operator’s TCS return.
- Marketplace fees from the operator’s monthly tax invoices, with GST input claimed where available.
- TCS and TDS deducted by the operator, recorded as recoverable and matched with GSTR-2B and Form 26AS.
- Settlements reconciled with the bank, so the closing receivable from each marketplace is a real figure, not a balancing figure.
If you sell on several platforms, see our e-commerce seller GST page as well.
Books the law requires you to keep
| Law | What it requires, in brief |
|---|---|
| CGST Act, Section 35 | Every registered person keeps true and correct accounts of production or manufacture, inward and outward supplies, stock, input tax credit, output tax and other prescribed records at the principal place of business |
| CGST Act, Section 36 | Accounts and records are kept for 72 months from the due date of the annual return for the year they relate to |
| Income-tax Act, 2025 (Section 62) and Income-tax Rules, 2026 | From 1 April 2026, books are required for businesses and professions crossing the prescribed income or turnover limits, with specified books for certain professionals; this replaces the earlier Section 44AA and Rule 6F |
| Companies Act, Section 128, and Companies (Accounts) Rules | Companies keep books on accrual basis and double entry, preserve them for eight financial years, and use accounting software with an audit trail (edit log) that cannot be disabled |
Tally and TallyPrime both offer the edit log feature needed by companies. We make sure it is enabled for company clients, because the auditor has to report on it.
Year-end finalisation and audit-ready books
At the year end we close the books in a way your auditor can work with quickly.
- Confirm closing balances of debtors, creditors and loans, and send balance confirmations where needed.
- Record closing stock from your physical count, and accruals, prepaid expenses and depreciation.
- Reconcile turnover with GSTR-1 and GSTR-3B, and TDS credits with Form 26AS and AIS.
- Prepare the trial balance, schedules for each balance sheet item and draft financial statements.
- Hand over the audit file to the associated firm of practising Chartered Accountants that conducts the audit, and answer their queries.
Clean books also make year-end tax planning and income tax return filing faster.
Migrating messy past books
Many businesses come to us with books that are incomplete, kept in Excel, or split between two accountants. We do not simply carry the old balances forward.
- Diagnose. Compare the last balance sheet with bank statements, GST returns and tax records to see which balances can be trusted.
- Rebuild. Re-enter or correct the missing periods, with suspense entries cleared rather than parked.
- Agree. Fix the opening balances for the new year with your approval, with a note of every adjustment.
- Move forward. Start monthly bookkeeping from the agreed opening position.
How a typical month works
| Step | Timing |
|---|---|
| You share bills, bank statements and marketplace reports | First few days of the following month |
| Entries and GSTR-2B matching | Before the GSTR-1 due date |
| Bank reconciliation and month close | Before GSTR-3B is filed |
| MIS shared with you | Shortly after the month is closed |
Fees depend on the number of entries, bank accounts and marketplaces. See pricing for typical monthly plans, or contact us for a quote. We work with businesses in Gurgaon, Manesar and Sohna and with clients in Delhi, UP, Rajasthan and Chhattisgarh, almost entirely online.
Frequently asked questions
Which software do you use for bookkeeping?
We mainly work in Tally and TallyPrime, which most auditors, banks and Gurugram businesses are familiar with. If you already use another package, we can work in it or plan a clean migration to Tally from a fixed opening date.
Do I have to send physical bills every month?
No. Clear photos or PDFs of sales and purchase bills on WhatsApp or email, the bank statement in Excel or PDF, and marketplace payment reports are enough for most months. Original bills should still be kept safely by you, because the law requires them to be preserved.
How often are entries made?
For most clients, monthly, so that GST returns can be filed from the books. Businesses with a high volume of transactions or tight cash can move to weekly entries.
Is bookkeeping required for a small proprietorship?
Under income tax, an individual in business must keep books once income or turnover crosses the limits prescribed in the Income-tax Rules, and anyone claiming lower than presumptive income generally needs books and an audit. Under GST, every registered person must keep accounts at the principal place of business whatever the turnover. Even below the limits, books make loans, refunds and notice replies much easier.
How long must books be preserved?
Under GST, accounts and records must be kept for 72 months from the due date of the annual return for the year. Companies must preserve books for eight financial years. Income tax has its own retention period under the rules, and records relating to an open assessment must be kept until it is completed. Keeping everything for at least eight years is a safe practice.
Can you fix books that are a few years behind?
Yes. We start from the last reliable balance sheet or the bank statements, rebuild the ledgers year by year, reconcile them with GST returns and Form 26AS or AIS, and agree the closing balances before the current year's work starts.
Do you handle marketplace sellers on Amazon, Flipkart, Myntra and Meesho?
Yes. We book sales from the marketplace tax reports, record commission, shipping and other fees from the invoices, account for TCS and TDS deducted by the operator, and reconcile the bank settlements so that the receivable from each marketplace is correct.
Books update hone ke baad report milegi kya?
Haan. After each month is closed we send a short MIS on WhatsApp or email with sales, gross margin, major expenses, bank and cash balances, receivables and payables, and the GST payable for the month.
Do you audit the books as well?
No. KSV prepares the books and the audit support schedules. Statutory and tax audits are carried out and signed by an associated firm of practising Chartered Accountants, who are independent of the bookkeeping.