For startups, smart financial management is the main key to profitability. As a result, most of the startup owners think hiring an accounting firm as an outsourced service can be the most feasible and logical option for managing this arena. But, it becomes difficult for them to select one, especially in Bangalore, due to the availability of a wide pool of options. It is further backed by a lack of clarity, poor reasoning, and poor knowledge about the benefits that come along with it.
The top accounting firms in Bangalore, although similar in their service nature, vary significantly in their packages, offerings, pricing, and strategies. To select the perfect match, the startup owners need to compare the USPs of these accounting firms and how they align with their business needs. So, here’s a comprehensive list of the top 10 accounting firms in Bangalore that you can consider while selecting your perfect match. Yes, we have crisped the list for you.
Table of Contents
How Choosing Right Accounting Firms in Bangalore Helps Your Business?
Factors to Consider While Choosing Accounting Firm in Bangalore
Before starting with the list of the top 10 accounting firms in Bangalore, here are a few things that you must consider while choosing it:
- Success and Records: Go through their online reviews, experiences, and success stories, to understand their potential and quality of service.
- Pricing Structure: Compare their fees for the services you need with the cost of hiring an in-house accounting team, and then you will understand which one is the most cost-effective option.
- License and Experience: Make sure that the firm has licensed Chartered Accountants and Company Secretaries. You can verify the same by directly asking questions.
- Ethics and Strategies: Closely assess the teams and individuals who would be working for you. Look out for their strategies, work ethics, value of words, reliability and potential.
Privacy and Security Policies: Vividly go through their privacy and security polices to understand whether your financial data will be kept protected or not
Why Choosing an Accounting Firm Really Matters?
Irrespective of the fact whether you’re a professional or a business owner or just an individual earning money, you need to have an accountant to make important financial decisions, be it for maintaining your business accounts or filing ITR at the end of the year. Now, what can be a better replacement for a group of talented accountants, backed by licensed Chartered Accountants and Company Secretaries? Now, this is how an accounting firm matters. It has the potential of offering you a full package of experienced individuals offering all-in-one related services. And, startups definitely need it to avoid the costs of hiring in-house accountants.
Why You Should Hire An Accounting Firm in Bangalore?
Irrespective of the fact whether you’re a professional or a business owner or just an individual earning money, you need to have an accountant to make important financial decisions, be it for maintaining your business accounts or filing ITR at the end of the year. Now, what can be a better replacement for a group of talented accountants, backed by licensed Chartered Accountants and Company Secretaries? Now, this is how an accounting firm matters. It has the potential of offering you a full package of experienced individuals offering all-in-one related services. And, startups definitely need it to avoid the costs of hiring in-house accountants. So, here’s the list of the top 10 accounting firms in Bangalore, that you must consider if you’re a startup owner in 2024:
Top 10 Accounting Firms in Bangalore To Consider for 2024
1. BBNC
BBNC is a service-based firm that provides “accounting, compliance, and legal” services to the local businesses of Bangalore. It has a separate accounting package for its clients (i.e., local/small business owners), comprising services like bookkeeping, TDS returns filings, GST returns filings, ITR returns filings, PT filings, auditing, and transfer pricing. Clutch rates the accounting firm 4.9 on average, for its excellent online services, that can be availed by PAN India. Startups, especially those that are in the growth phase, require intensive support and consistency. The firm’s approach to standing by the businesses at “every stage of their business lifecycle” can prove to be beneficial for the startups for this reason. Clutch rating: 4.9 Stars
2. Sangeetha and Ramya, Chartered Accountants
Sangeetha and Ramya is one of the fastest-growing accounting firms in Bangalore. Its core services include auditing and assurance, tax compliance, accounting, and consultancy services. Their client-focused approach can be beneficial for the startups, as it requires proper guidance and care for the startups to thrive in the competitive market. They further offer competitive pricing, which can also prove to be helpful for startups with budgetary constraints. Justdial rates the firm 5 on an average, for its excellent customer service. The accounting firm highly focuses on the success of its clients, further hinting towards their inclination for small businesses and startups as target client segments. Justdial rating : 5.0 Stars
3. Anil D’Souza & Associates
Anil D’Souza & Associates (ADCA) is one of the leading accounting firms in Bangalore. The firm has over 15 years of experience in the field of accounting, financial advising, and tax consultancy. The firm can be significantly beneficial for Bangalore-based startups because presently its team comprises a young group of professionals, who have the potential to understand the needs of new-age startups. Apart from that, the latest technology adoption has further provided the accounting firm with a competitive edge (e.g., in areas like accounting automation, predictive analytics, etc.). F6S ranks the company very high, and most importantly, in Google reviews, the company has 4.7-star ratings. Google Rating: 4.7 Stars
4. FinGurus
FinGurus specifically targets Bangalore-based startups. They offer services like accounting and taxation, virtual CFO, company secretarial services, and legal services. They further claim to accelerate the financial health of emerging businesses, making themselves a perfect choice for startups. The firm has over 40 years of experience in the field of accounting and related services, which in turn, showcases its credibility quotient. Startups like Shades of Spring, Devic Earth, Slay Coffee, etc. boomed financially under the guidance of FinGurus. Justdial rates the firm 4.3 on an average, for its unique potential as a support organization. Similarly, in the Google reviews, the company has 4.1-star ratings. Google Rating: 4.1 Stars
5. BDO India
BDO India is well-celebrated for its wide range of finance, accounting, and reporting services. Starting from “financial statement audit and attestation services” to “strategy and commercial due diligence” and ESG reporting, it has it all. BDO’s accounting professionals can help small businesses to accurately maintain their financial records and further keep themselves aligned with the accounting regulations and standards. This can be helpful for the startups, to attract the investors and subsequently raise capital from them. The firm has over 20 years of experience in the field of finance and reporting, confirming its credibility. Most importantly, the firm is active on a global basis. This can prove to be useful for startups having foreign clients. Google Rating: Missing
6. Actax India
Actax India stands out in the segment of accountancy, IT, and GST registration services, although it provides a wide range of other services (i.e., company registration, payroll management, etc.). Startups or small businesses can benefit from them due to the firm’s comprehensive consulting solutions, wherein they not only offer accounting and taxation services but also guide the startup throughout its financial growth journey, by strategic moves. Justdial rates the firm 4.8 on average, due to its guidance-based and reliable consultancy services. Clutch further rates the accounting firm 4.0 on average, due to its international footprint and wide range of solutions. Google Rating: 4.0 Stars
7. Ganashri Advisers India LLP
Ganashri Advisers India LLP, in its title description, claims to be a startup consultant, showcasing how they target startups specifically. This relevant accounting firm in Bangalore excels in accounting and taxation services, along with providing other services like GST filing/registration, GeM, and NSIC services. Clutch rates the accounting firm 4.8 on average, due to its triple bottom line (i.e., Planet, People, and Profit) prioritization. This phenomenon can be leveraged by Bangalore-based startups, wherein they can opt for an ESG consultancy from Ganashri while opting the regular accounting services. Further, in the Google reviews, the firm as 4.9-star ratings. Google Rating: 4.9 Stars
8. eLagaan
eLagaan India, just like Ganashri Advisers India LLP, goes by a tagline (i.e., “Scale your Startup”) that strategically targets the startups and small businesses of Bangalore. The firm itself is in a major growth phase and can be considered one of the most important accounting firms in Bangalore to look out for (as of 2024). Its core services include startup registration, accounting, auditing, and taxation, along with due diligence, payroll management, and scaling-up strategies. Famous startups like Oyo, HealthifyMe, and Bookpad, flourished fiscally under the guidance of eLagaan. In the Google reviews, the firm has a 5-star rating, showcasing its potential. Google Rating: 5.0 Stars
9. Roveen Corporate Services Pvt Ltd
Roveen Corporate Services Pvt. Ltd. is a Bangalore-based financial service provider, well-known for its accounting and payroll services. While listing the top accounting firms in Bangalore, yet another 5-star Google rating cannot be missed. Furthermore, F6S ranks the firm very high, because of its praiseworthy financial analysis, as reviewed by industry experts. This can be leveraged by the startups strategically (e.g., by making a strategic long-term investment or by taking advantage of an ongoing fiscal trend) to stay ahead of the competition. Justdial rates the accounting firm 4.9 on average, due to its seamless services. Justdial Rating: 4.9 Stars
10. BSJ & Associates
Last but not least, BSJ & Associates can also be classified as a major player within this list of best accounting firms in Bangalore. The firm has over 19 years of experience in the field of accounting and associated services. Clutch showcases some highly positive reviews about BSJ & Associates, coming straight from satisfied startup owners, highlighting its credibility. Apart from that, the accountancy team of the firm comprises industry experts (i.e., the Chartered Accountants), which makes the services of the firm stand out further. Justdial also has certain positive reviews about the company (although the star ratings are missing, and hence it has been ranked last Google Rating: Missing
Conclusion
Choosing the right match (i.e., an accounting firm in Bangalore) for your startup, completely depends on the availability of your resources and strategic goals and needs. Each of these accounting firms offers a unique blend of experiences, services, and client focus. However, this curated list of the top 10 accounting firms in Bangalore can provide a strong foundation for your research. It would be wise to consider all the options (or after filtering some of them through detailed research) and then consider factors like your budget and needs, and then you will be able to come to an informed conclusion.
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