Yeah! If you are a Startup. We love you.

We are  giving away 100 Free Accounts to startups this month! (and we have just 91 left now)

To Qualify:

• You should be a start-up with less than 25 Lakhs turnover last year.
• You should be incorporated on or after 2007

To Apply:

• Send a request to sales@reachaccountant.com along with a copy of your Last years Financials.
• This should reach us before 31st May, 2012.

We will take the stress out of Accounting and Taxes without spending a penny! YOU CAN GET STARTED WITH A TRIAL HERE

We are busy getting Version 3 ready! We have been working hard on Version 3 for you. We are targeting 30th of April for now and we should mostly be able to make it by then.

So, What does Version 3 have for you?

On the App.

1. A complete Internal UI Makeover.
2. A Demo Video
3. Super-easy click and drag categorizations.
4. More Security Certifications.
5. More Banks to Sync
6. MOBILE APP FOR I-PHONE AND ANDROID.

On the Support

1. Telephone support.
2. Payroll Management Services
3. Local Support Centers at every major city.

Catch ya soon on 30th…Lets catch-up. Coffee is on me…..

How can we calculate the Provision for Gratutity?

As per AS-15, A Actuary has to be appointed to do the valuation. The elaborate extract can be found here

Reach Accountant is an Online Accounting Software which automatically imports and categorizes bank transactions every day.

Here is how we are better than “Tally Accounting Software”

We will promote your practice and win new clients for you!

Once you create an account with us, We will call you, explain how the application works and list you as our preferred partner. Once you get listed in our directory ( for free ); Our customers will be given an option to choose you and seek your service.

You will not have to trouble your Clients requesting data

Requesting accounting data from your clients and integrating it into Tally is a daunting challenge.  With Reach Accountant, Your clients can simply sync their bank one time and you will then start receiving data real-time so you will not have to really bother your clients again.

Start charging your Clients every month

If you are a CA who charges your clients once in a year, You can now think about offering new services for which you can charge every month.  Services might include Sales tax preparation, Service Tax Preparation, Payroll Management, Budgeting, TDS preparation, Internal Audits, Monthly Bank Reconciliation and Multiple branch Accounting,  You could also offer clients Monthly management reporting  and business performance monitoring. - all for a monthly fee.

Become pro-active and get the edge over others

Change from being the accountant who delivers the compliance, to the trusted advisor who delivers business advice that’s pro-active. This give’s you an edge over other accountants. You can simply help your client identify a unrecognized debit in their bank accounts or warn the clients when they make a payment forgetting to deduct TDS.

Your Client’s Accounting is done real-time

We are thrilled to announce that “Reach Accountant” is the First Indian Accounting Software to support automatic Bank Feeds.

What is Bank Feed?

Bank Feed is the ability to automatically import transaction data from all your Bank Accounts, real time.

What does it mean to You?

• Your Accounting Software becomes fully automatic.
• You can completely replace your accountant.
• You will know the financial health of your company in real time.
• You can save thousands of rupees on Accounting costs.
• You will never have to stress yourself on a Tax Deadline.
• You can spend even more time making money.
• You can spend your weekends with your families.
• Your Accounting will be done even before your auditor asks you.

How does it work?

1. You log into your account and provide your Internet Banking Particulars
2. Our Application will automatically sync with your Bank Account and import transactions.
3. Our Application will categories your transactions into the relevant account heads automatically.
4. We will assign a standby accountant to you who will follow-up with you for filing your tax returns.
5. At the end of the year, We will co-ordinate with your auditor and pass on requested details.
6. You can now get back your Weekends!

How safe is my data?

• We provide the same security which your Bank Does ( 256 bit encryption)
• Even if you loose data, You just loose a days work. (Secure Daily Offsite Back-up of all data)
• No one can move your money ( Access is read-only)
• You can control access to your account ( including our support access )

Which Banks are covered now?

Nothing comes close to trying for yourself. Check it out yourself by creating a trial at www.reachaccountant.com

Also let me know if your Bank is missing in the list, We are adding a whole lot of accounts every day and will prioritize your Bank accounts first.

We have just made Reach Accountant immensely valuable to you by our new capability to process your company’s payroll. Being a small business ourselves, We constantly make an effort to keep providing you tools that help you do your Accounting, Taxes and now your Payroll too.

What you can do with this?

You can:

• Automatically structure your consolidated pay into Basic, DA, Allowances etc.
• Automatically understand how much needs to be deducted as PF, Professional Tax and T.D.S
• Generate Payslips for all your employees.
• Print a Pay-register every month.
• Understand how much you owe to PF, TDS and Professional Tax every month.

How does this work?

1. Log into your account.
2. Navigate to Transactions>> Payslips
3. Simply generate their payslips after deducting loss of pay and adding commissions.
4. Then, instantly e-mail the payslips to your employees.
5. Navigate to Payroll reports>> Pay Register and Export the pay register and check off as you pay them.

How much does this cost?

If you already are subscribed to us. You will pay absolutely nothing. (Really! No kidding)

If you aren’t, You can make your Payroll, Accounting and monthly Taxes a kids play by simply paying Rs. 1999/- a month.

Are you sales driven, outgoing and love talking and helping people get over accounting and taxes?

Look no further. We need a team of passionate and motivated Sales people to work in Chennai to support our sales team.

At Reach, our vision is to make Taxes and Accounting fully automatic for Small Business Owners. It’s a real buzz working to empower small business owners who now have access to their financial data over the web.

Role Description

This role is responsible for meeting the leads generated by our marketing  team from prospective customers via inbound sales inquiries and involves extensive travelling within Chennai.

You will need:

• 1+ year of on-field sales experience
• Excellent phone manner and communication skills
• A motor bike
• A mobile phone
• A Laptop
• Proven sales performance
• Attention to detail and follow-up
• Passion and desire to make a difference
• Be process driven and willing to take responsibility
• Have lots of initiative and self motivation
• Experience in selling Financial/Software Products to SMB
• Knowledge of accounting/ taxes would be desirable.

If you think you have what it takes we’d love to hear from you.

Remuneration

Rs. 2,00,000/- per annum + Incentives

Send your CV to robin@reachaccountant.com or Call me at 0-9841225544

We were mentioned in Business today along with testimonials from some of our beloved clients

Business Today article – Hand in hand, a walk in the cloud.

Architects, Builders, developer and other providers of Civil and Allied works are assessed to both VAT and Service Tax

With respect to VAT, You have two options to do the Invoicing:

First Method: This method is also known as Method of Composition or Composite method of tax payment. In this case the dealer is liable to pay tax on the total value of theworks contract at the applicable rates. The applicable rates are 2% for civil works andcivil maintenance works & 4% for all other works.

And the highlighting points under this method are

• The dealer has to present his option of payment of tax under this methodwith the assessing authority before 20th of May of the financial year or along with the first month return after commencement of the works contract execution, as the case may be.
• The option opted as above is final and binding and the dealer has no option to switchover to other method.
• The dealer is not required to maintain books of accounts underthis act., and it does not mean that he/ she need not maintain books of accounts under theother law(s) in the land, and
• The dealer cannot take Input Tax Credit on the purchases or on the inputs, and more importantly
• The tax has to be paid out of the fund collected from the customer or has to be paid out of his margin earned or to be precise he has no rights to collect the tax portion from his customer(s), where the billing is made under composition.

Second Method: It is opposite to the first method and it is known as Non-composition in general.

In this case,

• The dealer is not liable to pay tax on the total value of the works contract at the applicable rates but on the taxable turnover only and again the percentage of tax payable on the said turnover is based on the form of the property and its applicable rate as listed in the different parts of the First Schedule of the Act.
• Unlike the other method the dealer need not place his/her option of payment of tax liability under Non-composition. Once the dealer fails to present the option, it is automatic that he is liable to pay tax under Non-composition method.
• The dealer is required to maintain books of accounts under this act and to produce the evidence(s) with the appropriative authorities, as and when required by them.
• The dealer can take Input Tax Credit on the purchases or on the inputs.

I have illustrated the options available below:

Example:

Contract Value = Rs 100 lakhs plus applicable VAT.

Expenses:

Labour expenses in construction = Rs 32.00 lakhs,

Design charges = Rs.1.50 lakhs,

Purchase of Pumps from the dealer situated in other state = 10.00 lakhs,

Purchase of Pumps & motors from the dealer within the state = Rs 8.50 lakhs,

Purchase of cements from the dealer situated within the state = Rs .8.50 lakhs,

Purchase of bricks, blue metals etc from the dealer situated within the state = Rs.8.50 lakhs

Purchase of Electrical goods from a dealer situated outside the state = Rs.7.00 lakhs

Purchase of Electrical goods from a dealer situated within the state = Rs.15.00 lakhs

(1) First Method: If the dealer wishes to pay tax on composition method : ( No input adjustment )

(2) Second Method: If the dealer wishes to pay tax on Non-composition: ( which we currently use )

Input Turnover calculation:

Purchase of Pumps Rs.10.00 lakhs (Basic of Rs.9.61+ CST of Rs.0.39)

Purchase of Pumps & motors Rs.8.50 lakhs (Basic of Rs.8.17 + VAT Rs.0.33)

Purchase of bricks, blue metals etc Rs.8.50 lakhs (Basic of Rs.8.17 + VAT Rs.0.33)

Purchase of Electrical goods Rs.7.00 lakhs(Basic of Rs.6.73 + CST Rs.0.27)

Purchase of Electrical goods Rs.15.00 lakhs(Basic of Rs.14.42 + VAT Rs.0.58)