Search
  • Aparna Gayatri Devagiri Sriram

Stress-free Compliance; EP-13, 15th May 2020

Updated: Nov 2, 2020


Welcome to another episode of Her Business is Our Business where we Gayathri and Aparna

look at Women Entrepreneurship beyond funding – sharing expertise, experiences and tools

to grow your business.

As an entrepreneur, I can completely relate to the stress involved in ensuring that you file

taxes on time, handle your finances right, produce the required documents and the list goes

on.

Now, even if you find a professional to help you with this? How do you identify the right

one?

In today's episode, I Gayatri, continue the conversation with CA Rani NR.

We speak about one of the most crucial parts of every business, compliance and how to make

it stress-free with the help of professionals. 

She covers topics such as a list of required documents, how to deal with cash transactions?

How to keep a track of your transactions? When to hire a financial professional and what

kind of professional to work with? She also shares a few small but relevant tips to make your

entrepreneur life easy. 

So, listen carefully and take notes for this episode covers all the financial aspects that every

entrepreneur needs to know. 

Key Takeaways: 

Get into the habit of saving and recording all your business-related expenses and

having the supporting documents such as bank statements, expenses, bills in place.

Maintain a separate bank account for your business. Do not use your personal account

as this may cause confusion.

Do not use multiple payment channels. Keep it to the minimum and keep a track of it.

Ensure to claim all your business-related expenses as this can help with tax reduction. 

Go early to a CA and do not wait till the last day to file taxes. Explore the advance tax

payment option.

For all cash transactions ensure that a bill/invoice has been raised otherwise GST

cannot be claimed.

Happay, an app that produces bills and all documents right away. The link of these

documents can be shared to your CA from where they can download it.

Different financial services are available such as back-office services, virtual

accounting services, etc. Pick the right one depending on your business needs and

budget. 

While choosing a professional, ensure, they ask the right set of questions.

If you choose to work with a CA, find out their area of specialisation before making a

decision.

Stay in control of your finances always.

Keep an eye out for the latest government schemes as you might find something that

works for your business.


A few tips for your business: 


Before implementing your business idea, know your environment and the current

scenario

Get good advisory on board

Build a good business network with experienced professionals in your field

Find a mentor or coach who can guide you in the right direction


If you enjoyed this podcast, don't forget to share it!

If you have any questions/ feedback, send an email to listner@herbusiness.in


Podcast Tags – 

WomenEntrepruner, WomenInBusiness, Finance, BusinessFinance, Compliance,

FinancialProfessional, ChartedAccountant, Taxes, FinancialServices, Entrepreneur


LinkedIn hashtags: 


#HerBusinessIsOurBusiness

#Womenentrepreneurs

#WomenInBusiness 

#Entrepreneurship

#WomenBusinessOwners

#Podcast

#Entrepreneur

#Finance

#BusinessFinance

#CA

#ChartedAccountant

#ProfessionalFinancialServices

#Taxes

#Compliance

#StartUp

#Happay


#organization #goodworkhabits

0 views0 comments

©2020 by Her Business Is Our Business. Proudly created with Wix.com