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Accounting and Bookkeeping Challenges in the Real Estate Industry

India's real estate industry is a continuously growing sector, and it has a lot to offer. But as for this industry, like all other industries in India need for accurate and efficient bookkeeping & accounting function is evident. But there are some challenges in this process, some of which are –

Project Accounting

In the builders & construction industries, projects can last for long periods. Businesses mostly deal with multiple projects during a particular period. This all results in voluminous data, giving rise need for project accounting over and above general accounting.

Payroll Compliance

The need for different types of human resources is an issue in the real estate industry as this means multiple payment duration and multiple regulations for different kinds of employees. Also, it is still necessary for the business to comply with Central and State laws. All this makes payroll processing arduous process.

Property Management Software

Some businesses use property management software which makes its functioning extremely convenient, but this is not accounting or bookkeeping software. So, the data from these software needs to collaborate flawlessly with the accounting and bookkeeping software.

How does Whiz Consulting Help You Tackle Challenges of the Construction Industry?

Whiz Consulting has provided real estate accounting services and bookkeeping services in India for over a decade and has worked with real estate agents, organisations, companies. We are proud to say we provide the best online bookkeeping services for real estate businesses with the help of our real estate accountants, who are well acquainted with every facet of accounting and bookkeeping in the real estate industry.

Your constant internet search for "real estate accounting services near me" ends here at Whiz Consulting. We provide the best bookkeeping services in the real estate industry using the best accounting software for real estate agents. Whether it is accounting services for contractors, builders, agents, or any real estate-related business, we can provide adequate services for every sector. We make it feasible for you to perform your accounting and bookkeeping process effortlessly while reducing your dependency on another third party as we handle all your needs relating to accounting and finance in one place.

With our service, you can be assured that your real estate business is compliant with all the payroll processing regulations. While also making sure it is up to date with any changes in the central and state law. You can focus on your core activity, and while our professional accountant tackles the massive number of transactions while making the best use of any real estate software you are using.

Real Estate Bookkeeping Services We offer at Whiz Consulting

Bookkeeping Service

We provide the following bookkeeping services –

  • Bank & CC Reconciliation
  • Accounts payable & Receivable Function
  • Payroll Calculation & TDS/PF/ESI Payments
  • Filing of TDS Return
  • Filing of GST Return
  • Filing Yearly Tax Return
  • Monthly Balance Sheet, Profit & Loss Reporting
  • Financial Ratios Reporting
  • Inventory Management & Reconciliation
  • Budgeting Quarterly/Yearly
  • Cash/Revenue/Expenses Forecasting
  • KPI Reporting
  • Strategic Advise on managing revenue, expenses, cash flow
  • Planning for Taxes
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Accounts Payable Services

We prepare daily, weekly or biweekly accounts payable reports as agreed upon, and the same is sent to you on a timely basis so that you never breach payment terms with your clients. This allows you to have peace of mind and focus more on other tasks important for cash inflow. We ensure that things are exactly how they should be, whether it is scanning of invoices, sure payment term adherence, compliance to your company policy, etc.

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Accounts Receivable

Businesses rely on credit, so it is evident that every business has accounts receivable, and these are not something you can neglect as a business. It is crucial to be sure of how much you ought to receive from your debtors. This enables you to keep a check and receive what the others owe you in due time to keep that cash flow moving. We at Whiz Consulting will do exactly the same for you. We make sure that you receive money from your debtors on time by either reminding you of the overdue payments or by contacting the clients directly on your behalf.

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Financial Reporting

We have worked with Indian clients for a decade now, and we know exactly what is needed by the regulatory bodies or your in-house CA's, and we can produce the same for you. We provide Periodic Reports, Debtor Reports, Cash Flow Statements, Bank Reconciliation Reports, Income Statement Analysis, Profit & Loss, Balance Sheet, Business Analysis Reports, Financial Analysis Reports, Ratios, and any Ad-hoc Report that you might need like project-wise profitability etc.

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Payrolls Services Online

When it comes to payroll, we look after monthly payrolls for our clients from calculating their pays, including their TDS, PF payment, ESIC payment, allowing for all circumstances such as maternity or sick leave and of Form 16 to employees. You can count on us for complete payroll accounting services from payroll calculation to final payment while including reimbursements and employee leaves.

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GST & Income Tax Returns

Backed by the team of highly experienced Chartered Accountants, we are proficient in preparing and filing GST & Income tax returns and planning for taxes efficiently. You can count on us for the accuracy of these statements, and we will make sure these statements are prepared and filed before due dates.

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Why Choose Whiz Consulting for your Accounting and Bookkeeping needs?

Your business's core function is to deal with property management and construction, not accounting. So let Whiz Consulting take care of the Accounting and Bookkeeping function for your business. If you are on the lookout for a real estate accountant, we are the right choice for your accounting and bookkeeping needs, here are few reasons why you should choose us -

Compliance

We keep ourselves up to date with any new laws and regulations and ensure that your business is compliant with all central and state laws, be it tax compliance or payroll compliance.

Decade long Experience

We have over a decade of experience and an in-depth understanding of real estate industry-specific requirements. Our experts aid you in streamlining your bookkeeping and accounting systems.

Cost-saving

Hiring a full-time professional accountant or local accountant will cost you 50% more than hiring our services, while you will get access to a long list of accounting and bookkeeping services.

Satisfaction Guaranteed

With decade-long experience working with Indian Real Estate, Building and Construction businesses, we have provided the best service to them and can guarantee the same for you.

Limitless Consultation

You provide unlimited phone and e-mail consultations with experienced professionals for the need for any details, issues, or queries.

Customise service and report

We provide reports at regular intervals that help you to monitor your financial health. Our services and reports can be tailor-made to your specific requirements.

Personalized Consultant

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