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Accounts Reconciliation
Accuracy. Transparency. Control.
In today’s fast-paced financial environment, even minor mismatches in records can lead to major compliance risks, inaccurate reporting, and cash flow disruptions. Accounts reconciliation is a crucial process to verify and align internal records with external statements—ensuring your books reflect the true financial position of your business.
At Alpviram Legal, we offer comprehensive accounts reconciliation services that help you detect discrepancies early, correct errors, and maintain books that are audit-ready and compliant.
What is Accounts Reconciliation?
Accounts reconciliation is the process of matching your internal financial records with external statements such as:
Bank statements
Vendor & customer ledgers
Loan accounts
GST and TDS returns
Credit card statements
Intercompany accounts
This process ensures that every transaction recorded in your books has a corresponding and verified entry from the other side.
Why is Reconciliation Important?
Error Detection – Identify mispostings, double entries, and missed entries
Fraud Prevention – Detect unauthorized or suspicious transactions
Tax Accuracy – Avoid issues in GST, TDS, or income tax filings
Audit-Readiness – Clean books for statutory or internal audits
Cash Flow Clarity – Accurate reconciliations help in managing working capital better
Our Accounts Reconciliation Services Include
1. Bank Reconciliation
Match your bank statements with ledger entries to identify unposted items, interest charges, bank fees, or missed transactions. Timely bank reconciliation helps prevent fraud and ensures liquidity accuracy.
2. Vendor & Customer Reconciliation
Resolve mismatches in accounts payable and receivable. We work with both parties to reconcile ledgers, identify pending invoices, and settle disputes for smoother financial closing.
3. GST Reconciliation
Ensure your books match GST returns (GSTR-2A/2B, GSTR-1 vs GSTR-3B, etc.). This helps claim accurate Input Tax Credit and avoids compliance penalties.
4. TDS Reconciliation
Match TDS deducted as per books with Form 26AS and TDS returns filed. We identify short deductions, mismatches, and rectify errors proactively.
5. Intercompany & Loan Account Reconciliation
Crucial for group companies and large enterprises, we verify intercompany balances and outstanding loans to maintain consolidated accuracy.
6. Credit Card & Digital Wallet Reconciliation
We help track all business-related digital payments and credit card expenses, matching them against vendor receipts or ledger entries.
Frequently Asked Questions
Accounting Standards are written policy documents consisting of principles and guidelines for recognising, measuring, presenting, and disclosing accounting transactions or events in the financial statements.
Accounting standards improve the transparency in financial reporting and reliability of Financial Statements and make them comparable. They also prevent fraud and Accounting manipulations.
All the companies except a one-person company, small company, dormant company and a private company being a start-up are mandatorily required to prepare a cash flow statement.
Projected Financial Statements are financial statements based on the estimation after considering past financial trends, market conditions, probable changes and management expectations to arrive at a future financial picture.
Projected financial statements help plan for the future. Projected financial statements are the way to review the possible outcomes before making a decision.
Payroll can be defined as the process of providing compensation to employees for the work they perform on behalf of their organisations.
It is one of the most important aspects of a business as it affects employee morale and reflects a business’s financial stability and reputation. Errors in paychecks or untimely payments can create a lack of trust among employees. But when the compensation is accurate and delivered on time, employees are more engaged and motivated.
Bookkeepers focus on recording and organizing financial transactions, while accountants analyze and interpret financial data, prepare financial statements, provide financial advice, and contribute to strategic decision-making
Accounting plays a crucial role in business by providing financial information that helps in decision-making, assessing profitability, managing cash flow, meeting legal and tax obligations, attracting investors, and ensuring transparency and accountability.
When most accounting functions are handled by a few individuals within the organization, the risk of fraud increases. Outsourcing accounting services to a third party adds an extra layer of control and reduces the potential for fraudulent activities. Professional firms implement robust internal controls to safeguard financial operations.
Financial reports serve multiple purposes for businesses. Shareholders rely on them to make decisions about their investments, prospective investors assess a company’s potential for success, and lenders use them to evaluate an organization’s ability to repay debts. These reports provide valuable insights into the financial health and performance of a business.
Accounting firms help businesses prepare financial reports and presentations for investors and companies. They specialize in creating cash flow statements, profitability statements, and return on investment reports. These reports provide crucial information for decision-making, investment analysis, and obtaining funds from lenders.
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