Running a business with US revenue, US investors, or a US subsidiary means juggling two sets of financial standards simultaneously. Your Indian books must satisfy Companies Act 2013 and the Income Tax Act 1961. Your US-facing records must align with IRS requirements and US GAAP. Most Indian finance teams default to preparing statements that work for Indian statutory audits but fall short when US investors, banks, or acquirers request financials. That gap creates audit risk, delays funding rounds, and invites transfer pricing scrutiny under Section 92D of the Income Tax Act 1961. KAMRIT Financial Services LLP solves this with a structured monthly bookkeeping engagement that keeps your Indian and US books in sync, transaction by transaction, every month. Our US-trained accounting team maps your chart of accounts to both Indian and US reporting standards, reconciles cross-border entries, and delivers financials you can submit to the IRS, US lenders, or American co-investors without rework.
What is USA Bookkeeping (Monthly) in India 2026?
USA Bookkeeping (Monthly) is a recurring compliance-grade bookkeeping service that maintains your financial records in a format simultaneously useful for Indian statutory filings and US-oriented reporting. This is not basic data entry. KAMRIT categorises every transaction against a dual-axis chart of accounts built for both Companies Act 2013 Section 128 requirements and US IRS documentation standards. For businesses in the $5 crore-plus turnover bracket with cross-border transactions, this service also supports transfer pricing documentation under Income Tax Act 1961 Section 92D and Rule 10E. The service is owned operationally by KAMRIT under professional standards, while the underlying regulatory obligations sit under the Ministry of Corporate Affairs for book maintenance (Companies Act Section 128), the Income Tax Department for reporting, and FEMA provisions for foreign exchange accuracy. If you have a US subsidiary, inbound US equity, or export receivables exceeding the threshold where transfer pricing rules apply, this service is the monthly compliance layer you currently lack.
Who needs this
This service is designed for Indian businesses where US-facing financial accuracy is a regulatory or commercial necessity. Not every business qualifies.
- Indian private limited or LLP with US shareholders, directors, or nominees on board
- Companies with export revenue to the USA exceeding Rs 5 crore in any financial year triggering transfer pricing applicability under Section 92B of the Income Tax Act 1961
- Indian parent company with one or more US subsidiaries or step-down subsidiaries
- Inbound US FDI where the company has FEMA-reportable transactions requiring accurate books of account
- Companies preparing for US GAAP conversion or initial US financial statement preparation for a US listing or SPAC transaction
- Businesses receiving or extending loans from US entities where covenants require financials in US format
- Indian companies with US-based payroll requiring accurate recording against Form 16 and foreign salary provisions
- Startups that have raised from US-based VC funds requiring quarterly financials per NVCA or SAE documentation standards
- Importers from the USA where customs valuation and transfer pricing documentation must cross-reference books of account monthly
Documents required
Monthly bookkeeping requires a structured document flow. KAMRIT provides a secure document checklist at kickoff. You upload monthly through our encrypted portal. The list below is the standard stack; your engagement manager will flag anything additional.
- Bank statements for all operative current accounts (HDFC, ICICI, Yes Bank, etc.) in PDF or MT940 format
- Credit card statements for all corporate cards used for business expenditure
- Sales invoices issued in the month with GSTIN of recipient and IRN where e-invoicing applies
- Purchase invoices, service bills, and import Customs Duty bills received in the month
- Expense vouchers and receipts for payments below Rs 500 with bundled petty cash report
- Payroll registers for the month including Form 16A and professional tax challans
- TDS certificates (Form 16A) issued to vendors during the month
- GST Returns filed for the month (GSTR-1 output, GSTR-3B summary)
- Fixed asset addition or disposal schedule if any asset movement occurred
- US subsidiary or related party ledger extracts if transfer pricing entries apply
How KAMRIT runs it, step by step
KAMRIT runs a structured month-end process. We do not wait for you to chase documents. Our engagement manager initiates each cycle by the 5th working day of the following month.
- Kickoff and Chart of Accounts Setup. In the first week, KAMRIT's accounting team reviews your existing trial balance or prior year financials and builds a dual-axis chart of accounts mapped to both Indian Schedule III of the Companies Act 2013 and US GAAP categories. This chart is agreed in writing before the first month begins. Any existing miscategorisations are corrected in a clean-up entry before go-live.
- Document Checklist Dispatch. By the 5th working day of each month, KAMRIT sends a document checklist via email and our client portal. The checklist specifies required documents for the prior month. Clients have until the 10th working day to upload. Late uploads do not change the delivery date unless the client formally requests an extension.
- Transaction Entry and Categorisation. All bank transactions, journal entries, and payroll entries are booked in our accounting system. Each entry receives a dual categorisation tag: Indian statutory category and US reporting category. This tagging enables instant generation of both Indian Trial Balance and US-format P&L and Balance Sheet from the same underlying data.
- Cross-Border Reconciliation and Transfer Pricing Mapping. For entities with US subsidiaries, related party transactions are flagged against the arm's length range from the Transfer Pricing Study. Entries not within range are reported separately with suggested adjustments. FEMA-related entries are reconciled against the e-BRC or export realisation certificates available on the RBI EDMAST system.
- Internal Review and Quality Check. A senior accountant reviews each month's books against the prior month's trend. Unusual variances exceeding 10% on any line item are flagged to the client before the deliverables are finalised. This step adds 2 to 3 working days but prevents downstream audit queries.
- Deliverables Dispatch. KAMRIT delivers a monthly package including Trial Balance, Profit and Loss Account, Balance Sheet in Schedule III format, US-format Income Statement and Balance Sheet, Bank Reconciliation Statements, and a Management Summary with variance notes. Deliverables are sent as password-protected PDFs and Excel files through the client portal. Physical couriers are not used for data security reasons.
- Client Review Meeting (Quarterly). Every quarter, KAMRIT schedules a 45-minute review call to walk through quarterly financials, flag any regulatory changes applicable to the client's sector, and adjust the chart of accounts for any new revenue streams or cost centres. This meeting is included in the monthly fee. Additional ad-hoc review calls are charged at Rs 2,500 per hour.
Timeline
The onboarding and first month cycle runs as follows. Week 1 is the kickoff: KAMRIT receives your existing financials, builds the chart of accounts, and sends the engagement letter for countersignature. By Day 10, the document checklist for Month 1 is dispatched. By Day 20, if all documents are received by Day 10, KAMRIT completes entry and delivers Month 1 books. Regulator-controlled stages do not apply to bookkeeping itself since the MCA does not pre-approve books of account; however, if your books feed into an annual Statutory Audit under Section 139 of the Companies Act 2013, the audit timeline begins after KAMRIT delivers the final March books, which is typically by April 15 for March year-end companies. For companies with September year-end, the delivery target is October 10. KAMRIT controls internal turnaround but cannot guarantee regulator processing times if your statutory auditor raises queries on the delivered books. The working-day ranges cited above assume complete document receipt by the deadline; incomplete stacks extend delivery by 3 to 5 working days.
How our pricing compares
KAMRIT's USA Bookkeeping (Monthly) is priced at Rs 17,000 per month or $199, billed quarterly in advance. This covers transaction entry, dual-axis categorisation, bank reconciliation, monthly financial statements in both Indian and US formats, and one quarterly review call. It excludes government fees (none applicable to bookkeeping), statutory audit fees, transfer pricing study preparation which is billed separately at Rs 25,000 per transaction type, and any ad-hoc advisory calls beyond the quarterly review. IndiaFilings quotes Rs 8,000 to Rs 12,000 per month for basic bookkeeping but delivers only Indian-format books without US alignment or transfer pricing tagging. Vakilsearch does not offer standalone monthly bookkeeping; its compliance packages are bundled with annual MCA filings. ClearTax charges Rs 15,000 to Rs 22,000 per month for its簿记 service but targets Indian GST and Income Tax users, not US-format reporting. LegalRaasta offers bookkeeping starting at Rs 6,000 per month but the service is limited to Tally data entry without reconciliation or dual-format output. KAMRIT's price is competitive with ClearTax for equivalent service scope and significantly above LegalRaasta because those lower quotes do not include US-format deliverables, transfer pricing mapping, or quarterly review engagement. If you need books that your US investor or US bank can use without reformatting, the Rs 17,000 per month covers work that would cost 2 to 3 times more if done in-house or through a US accounting firm.
Common mistakes KAMRIT avoids
Indian businesses managing US-facing books make predictable errors. Most arise from treating US bookkeeping as a data-entry exercise rather than a compliance function. KAMRIT sees the same mistakes in onboarding clients who switch from other providers.
- Categorising export receivables as 'Other Income' instead of 'Revenue from Operations' in the Indian trial balance, which distorts both GST output liability and US-format revenue recognition
- Missing TDS reconciliation in books when payments to US vendors are subject to TDS under Section 195 of the Income Tax Act 1961, creating mismatch at the time of Form 16A filing
- Not separating India Head Office costs from US subsidiary costs in the same cost centre, which inflates the US entity's expense base and creates transfer pricing adjustment risk
- Delaying GST return filing while expecting KAMRIT to complete month-end books, since GST data feeds directly into the books under GSTR-2A reconciliation rules
- Using cash basis accounting for GST while preparing books on accrual basis for US reporting, creating a permanent reconciling item every month that goes unexplained
- Not capturing exchange rate differences under AS 11 as amended for foreign currency transactions, resulting in RBI/FEMA non-compliance when the Annual Return on Foreign Liabilities and Assets is filed
- Treating monthly bookkeeping as optional during loss-making quarters, which breaks continuity and makes it harder for statutory auditors to reliance on books under SA 510
- Failing to maintain documented evidence of arm's length nature for inter-company loans above Rs 1 crore, which is a requirement under Rule 10CA of the Income Tax Rules 1961 for Thin Capitalisation documentation