Bookkeeping is the process of recording and maintaining financial records for a business to manage its finances, make informed decisions, and comply with tax laws and regulations.
A bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement
Accounts payable (AP) is a short-term debt and a liability on a balance sheet where a business owes money to its vendors/suppliers that have provided the business with goods or services on credit.
Payroll can be defined as the process of paying a company's employees. It includes collecting the list of employees to be paid, tracking the hours worked, calculating the employee's pay, distributing the salary on time, and recording the payroll expense.
ESI registered businesses have to file ESI returns on monthly basis. It is governed under the ESI Act, 1948; ESIC (Employees' State Insurance Corporation) which provides benefits to employees in the event of their sickness, death, disablement, injury, etc.