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Looking for reliable monthly bookkeeping services for MSMEs in India? Discover our India-specific checklist
Running a small or medium business in India comes with its own set of challenges—tight budgets, GST compliance, and constant cash flow problem. For most MSME (Micro, Small, and Medium Enterprises) owners, bookkeeping and accounting becomes an afterthought until it’s financial year end season or a tax notice is issued to them.
But here's the truth: monthly bookkeeping isn’t just a financial formality; it’s your business's health report. With the growing trend of online bookkeeping services for small and medium businesses, affordable and professional solutions are now within reach. Jordensky is helping more than 300+ business owner with accounting services in Mumbai and is being recognised as Top CFO Companies for Startups in Mumbai.
In this blog, we share practical tips, checklists and everything MSME owners need to know to stay compliant, organized, and growth-ready.
Monthly bookkeeping services MSMEs go beyond basic record-keeping. These services involve systematically recording all financial transactions — including sales, purchases, expenses, and receipts — on a regular basis. The process also includes managing GST input and output liability, reconciling bank statements, tracking accounts payable and receivable, and maintaining ledgers.
In addition to core bookkeeping tasks, these services often include:
For MSMEs, regular bookkeeping not only supports legal compliance but also provides critical financial insights to drive growth, manage cash flow efficiently, and plan for the future.
Who needs it?
If you run a registered MSME (especially with UDYAM registration), you are already required to follow basic financial compliance norms under the Companies Act and GST regime.
Modern online bookkeeping platforms like Jordensky offer:
Case in Point: Mumbai-based startup Kala Krafts shifted to an online bookkeeping service using Jordensky- Top Accounting Firm in Thane for MSME and reduced late-filing penalties by 90%.
Efficient bookkeeping isn’t just about staying compliant—it’s about making smart, informed business decisions. For Indian MSMEs managing growth, operations, and finances, having a structured monthly accounting routine is non-negotiable.
Here’s a month-wise accounting checklist, broken down into daily, weekly, monthly, and quarterly tasks for MSME’s.
Handling daily entries may feel tedious, but it saves hours (and penalties) later. Here's what to do each day:
Record every payment received and made via cash, cheque, NEFT, RTGS, UPI, etc. This prevents income leakage and builds a complete audit trail.
Digitally archive every invoice, bill, and receipt. This ensures all GST input credit can be claimed and reduces document mismatch issues during GSTR filing.
Update your accounts receivable list daily. Send polite reminders for overdue invoices. Cash flow problems often stem from delayed collections, not sales shortages
Weekly reviews reduce monthly surprises. Block a fixed slot each week for these:
Match recorded transactions with bank statements and UPI notifications. Flag any unknown or pending entries for follow-up.
Petty cash is often misused or misrecorded. Maintain a digital petty cash register and attach scanned bills wherever possible.
If you’re making payments for rent, professional fees, or contracts—TDS might be applicable. Track amounts, apply correct TDS rates, and prepare for timely payments.
The bulk of your financial hygiene happens here. These tasks give you a full view of your performance and compliance health:
Compile outward and inward supply data and match it with your GST portal. Correct mismatches before final filing. Ensure GST Input Tax Credit (ITC) eligibility is reviewed.
Generate payslips, calculate PF/ESI deductions, and make online payments via EPFO and ESIC portals.
A trial balance helps identify missing or misclassified entries. Adjust entries like prepaid expenses, accrued incomes, or depreciation to ensure accuracy.
Your Profit & Loss and Cash Flow statements give a snapshot of performance. Use them to assess if revenue targets were met, and to plan expenses.
Bookkeeping is more than just entering data—it’s the foundation of informed decision making, legal compliance, and business growth. Yet, many Indian MSMEs unknowingly make avoidable mistakes that cost them money, time, and credibility. Let’s break down the most common pitfalls and how to steer clear of them.
Many small businesses still use Excel or paper registers for bookkeeping. While this may seem simple and low-cost, it lacks automation, accuracy, and compliance features.
Why it’s a problem:
Better approach:
Use cloud-based tools like Zoho Books or Tally Prime, or let a Accounting service provider like Jordensky handle it with automation and real-time reporting built in.
Filing GSTR-1 and GSTR-3B late can lead to heavy late fees and interest. It also affects your vendors, who rely on your timely filing to claim their input credit.
Why it’s risky:
What you can do:
Set reminders, automate your GST filing, or outsource your tax compliance it to a reliable team like Jordensky, which ensures timely compliance and avoids penalties.
Using the same account for both personal and business transactions makes your books messy and difficult to audit. It also leads to incorrect profit calculations.
What goes wrong:
What to do instead:
Open a dedicated business bank account and use separate credit/debit cards. Jordensky can help categorise and clean your transactions if you're unsure where to start.
Petty cash expenses—like local purchases, meals, or travel—often go unrecorded. But these add up and affect your overall financial picture.
Why it matters:
Simple fix:
Use a petty cash register or mobile expense app. If you're already overwhelmed, let Jordensky handle it—we ensure even the smallest costs are properly logged and backed with proof.
Tip: Many MSMEs we serve in India have no formal bookkeeping system. After outsourcing the accounting and tax services to Jordensky for their Business, they received clean, audit-ready books within 90 days.
Here’s how online services beat DIY or in-house methods:
Example: One MSMEs in Pune partnered with Jordensky to streamline their bookkeeping processes. Within just six months, they saw a 22% improvement in working capital, thanks to better invoice tracking, timely follow-ups on receivables, and cleaner financial reporting
Top bookkeeping service providers offer more than just numbers:
These monthly VAS are designed to help MSMEs run their business efficiently, not just stay compliant.
Q1: What are the best online bookkeeping services for MSMEs?
Ans: Choose a service that offers automated bookkeeping, GST-ready reports, and CA-reviewed data—all at an affordable price point. Jordensky is trusted by Indian MSMEs for its cloud-based systems, dedicated finance teams, and monthly plans starting under ₹5,000.
Q2: Can I manage GST returns with online bookkeeping?
Ans: Yes. With Jordensky, your monthly bookkeeping includes generation of GSTR-1, GSTR-3B, and reconciliation reports, ensuring accurate filings and maximum Input Tax Credit (ITC) with minimal effort from your side.
Q3: Is this service suitable for freelancers or sole proprietors?
Ans: Absolutely. Whether you’re a consultant, designer, coach, or small trader, Our CA Firm helps individuals manage their books, file returns, and stay audit-ready—without needing to hire a full-time accountant.
Q4: How do I choose between in-house and outsourced bookkeeping?
Ans: If your business has less than 500 monthly transactions and no dedicated CA on payroll, outsourcing is more efficient.
Q5: Are bookkeeping services available in cities like Mumbai or Pune?
Ans: Yes. Jordensky serves clients across India, including major hubs like Mumbai, Pune, Delhi, and Bengaluru,. With remote teams and cloud-based tools, geography is no longer a barrier to professional bookkeeping.
Q6: Can I access financial reports or dashboards anytime?
Ans: Definitely. Jordensky provides user-friendly dashboards and monthly MIS reports so you can view your cash flow, expenses, profit & loss, and GST status anytime—no spreadsheets needed.
In India’s fast-moving business landscape, MSMEs need more than just a file of invoices at year-end. You need real-time financial clarity.
With affordable, reliable monthly bookkeeping services for MSME, you gain:
Ready to get started?
Outsourcing accounting for your MSME offers companies a range of benefits, including cost efficiency, scalability, access to specialized expertise, and improved financial decision-making. By partnering with an expert provider like Jordensky, you can streamline your operations while focusing on your core business growth. If you are ready to boost your MSME's financial strategy, get a free accounting consultation today. Whether you are exploring accounting services in Mumbai, accounting services in Pune, or accounting services in Bangalore, Jordensky provides personalized accounting services to support your growth. Contact us now for expert financial guidance and ensure your outsourcing decision is a step toward success.
Let our experts handle your books while you focus on growth. Contact us for a free bookkeeping consultation or get started with our ₹5,000/month bookkeeping plan for MSMEs today.
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