The fundamental definition of "Accounting" refers to the annual process of "maintaining financial records." The discipline of Accounting encompasses various branches, including financial accounting, management accounting, professional accounting, chartered accountancy, auditing, tax accounting, and cost accounting.

Every business must manage its accounts annually. All organizations are obligated to submit their financial records to the Income Tax (IT) Department. Maintaining financial records internally can be an expensive endeavor, whereas utilizing online solutions offers a more efficient and cost-effective alternative..

Accountants are capable of managing more complex responsibilities and utilize sophisticated software to execute their duties and keep accurate records.The process can be simplified through the use of LegalPanther accounting online service, allowing you to manage your accounts effortlessly. .