Ronak Accounting Process

Ronak – Accounting Process

1. Chart of Accounts Setup

• Define
  all ledgers: Assets, Liabilities, Income, Expenses.


• Map
  company structure with departments, cost centres, and projects.

2. Transaction Recording (Day-to-Day Accounting)

• Journal
  Entries → Manual/auto postings.


• Accounts
  Payable (AP) → Vendor bills, invoice verification, vendor payments.


• Accounts
  Receivable (AR) → Customer invoices, receipts, credit/debit notes.


• Cash
  & Bank → Petty cash entries, bank deposits, withdrawals.

3. Bank Reconciliation

• Match
  company books with bank statements.


• Identify
  discrepancies (cheques in transit, pending deposits).

4. Payroll Integration

• Salary
  expense posting automatically flows from HR module.


• Deductions
  & contributions (PF, ESI, TDS) posted into respective ledgers.

5. Taxation & Compliance

• GST/VAT
  calculation & return filing.


• TDS,
  PF, ESI compliance.


• Auto-generated
  compliance reports for statutory audits.

6. Period-End Closing

• Accruals,
  provisions, and adjustments recorded.


• Depreciation
  posting on fixed assets.


• Closing
  of ledgers for monthly/quarterly/annual reporting.

7. Financial Reporting

• Trial
  Balance, Balance Sheet, P&L, Cash Flow.


• MIS
  reports for management:




• Budget
  vs Actual


• Expense
  tracking by department


• Profitability
  analysis