World-Class
Tax and Accounting Services
Clearly, Libra Businessman Services uniquely and precisely is expert in all types of tax accounting. Even so, The persistence that our tax consultants have in the given domain makes it good for the accounting department of the companies, a golden opportunity. Furthermore, our consultants have training from international accounting bodies and experience in international firms. Absolutely, We understand the importance of the process for the businesses and our consultants are equipped with the latest techniques and skills that make the difference.Â
Types of Tax
Accounting That We Offer
Our tax accounting makes the difference in every manner. Obviously, The list is of our consultancy that we offer is as under:
- Registration for VAT
- Process any amendment in the VAT Registration
- Management and Accounting Consultancy
- Bookkeeping
- Filing the VAT Returns
- Accounting Software Setup
- Accounting Software Training
- VAT Calculation
- Corporate Tax Calculation
- Payroll Management
The Proposed Scope of Tax ServicesÂ
Libra Businessman Services provide the best services in the given domain and our services are not limited to the following sections:
- VAT Return Filling
- Recording of all business transactions
- Corporate File ReturnÂ
Monthly Client ReportingÂ
We offer monthly reporting to the clients in a presentable format. We value transparency and the process of accounting is all about providing the real insight of the business. Undoubtedly, we provide reports of the
- VAT
- Income Tax
- Corporate Tax
Important Documentation For Clients
Libra Businessman Services assist the clients in getting the important documentation for the businesses. Above all the services that we offer are best in every way. You can get the best accounting services under one roof.
- Invoices for Sale
- Bank Statements
- All the relevant documents
FAQs
What are the 5 scopes of accounting?
The accounting is a science of recordings and analyzing the data and the five scopes of accounting are as follows:
- AuditingÂ
- Taxation
- Financial Accounting
- Managerial Accounting
- Financial Management
What is the relationship between accounting and taxation?
Apparently tax and accounting are two different entities but they have intrinsic links. Especially, Taxation involves the collection of tax and complying with government laws regarding the tax. Subsequently, accounting is the recording and analyzing the financial figures to make the business accountable. Importantly, without accounting records the taxation process can not start properly.
What is tax accounting?
Tax accounting is actually the specialized area of accounting that mainly focuses on minimizing the tax liability of the business. The major thing is the compliance with the tax laws by the government. Indeed, the government makes tax regulations of individuals and the organizations and it is the sole thing in the tax accounting to deal with these laws.
What are the methods of tax lot accounting?
The methods for are as followsÂ
- FIFO
- Specific Identification
The process actually keeps the record of your financial transactions and the tax implied. This is crucial for every business indeed to get the clear picture of the tax that the business has to pay.
What is the journal entry for sales tax?
The journal entry of sales tax is clearly great in every manner and it is debit to the accounts receivable. As well as that is usually a credit to the sales account and it is also a good idea to credit it to the sales account.Â
What are the golden rules of accounting?
There are usually three golden rules for accounting and we will discuss them one by one.
- All receivers are debit and all givers are credit in the entry.
- All losses and expenses go for debit whereas credit all incomes and gains.
- What goes out of the business is credit and what comes in the business is debit.
Obviously, If the companies follow these golden rules or principles then the chances of success are quite high for the business.Â
