I

NTERI
M PROJECTREPORTOFINTERNSHI
P
UNDERTAKENAT

GVNKA&ASSOCI
ATES

SUBMI
TTEDTO

GURUNANAKDEVUNI
VERSI
TYAMRI
TSAR

SUBMI
TTEDBY:

ANI
MESHSALHOTRA

BCOM (
HONS)SEM-
VI

ROLLNO-17241982977
 I
NTERI
MINTERNSHI
PREPORT
GVNKA&ASSOCI
ATES

MANAGI
NGPARTNER(
AMRI
TSARBRANCH)–

CHARTEREDACCOUNTANT

CAI
QBALGROVER

(
SRCCAl
umnus,
Ex-
GrantThor
nton,
CARankHol
der
,PastChai
rmanI
CAI
ASR,
Qui
ckbooksOnl
inePr
oAdv
isor
)

MENTORATTHEORGANI
STATI
ON:CAI
QBALSI
NGHGROVER
I
NTERNSHI
PMENTOR:LAKHWI
NDERSI
NGHKANG

ABOUTTHECOMPANY
GVNKA & Associ ates,isaf i
rm registered wit
h The I nstit
ute of Charter
ed
AccountantsofIndia("I
CAI")
, 
establ
ished byat eam ofCharteredAccountantswi th
off
icesinAmr i
tsar
, Bengal
uru,HyderabadandLudhi ana.Itprovidesawi derange of
fi
nancialsolut
ionsand serv i
cesi nthear easofAudi tand Assur ance,
 Taxati
on,
bookkeeping,Corporate Advisor
y Services,FinancialProcess Out sour
cing and
BusinessSetupserv i
ces.
 

AtGVNKA&Associ ates,managementhasext ensi

veexperienceinEducat
ion,Real
est
ate&Infr
astr
uct
ure,FinancialSer
vices(NBFCs)
,ITandITES,FoodandBev er
ages,
Pharmaceut
ical
Research,Retail
andHeal t
hcarei
ndustr
ies.
​

 MANAGI
NGPARTNER–CAFI
RM I
NAMRI
TSAR

CAI
qbal
SinghGr
over

IqbalisaFel low memberoft heInst i

tuteofChar teredAccount ant
sofI ndi aanda
Licenti
ateCompanySecr etary.Hehassecur edAl lIndiaRanksi nCA-Fi nal ,CA-PEI I
andCS-I nt
ermedi atecour ses.HehasanHonor sdegr eeinCommer cef rom Shr i
Ram Col l
egeofCommer ce,NewDel hi.
 
 
Iqbalhaspr ev i
ouslywor kedwi thGr antThor nton,al eadingf i
nancialadv isoryf i
rm
andot herChar teredAccount ancyf ir
msi nDel hiandAmr it
sar
.Hehasov ert eny ear
s
ofexper i
encei nthear easofTaxat ionAdv i
sor yandAudi tserv
ices.
​
Wor ki
ngatGVNKAi sanenr i
chingandr ewar dingexper iencegivingy ouan
opportunitytoexpl oreandhoney ourski l
ls.
 GVNKAof fersexciti
ngoppor tuniti
es
thatwillchall
engey ourabi l
it
ies,expandy ourski l
lsandr ewardyourcont ributionsin
anat mospher et hatencour agespr ofessionalandper sonalgr owt h.

I
NTERNSHI
PROLESI
NTHEORGANI
SATI
ON
 BANKAUDI
TS

 BOOKKEEPI
NG

 BANKI
NG(
QUI
CKBOOKS)

 GSTRETURNFI
LING

I
NCOMETAXRETURNSOFTWARE(
BASI
C)

 SPECTRUM

 QUI
CKBOOKSSOFTWARE

 DATAMANAGEMENTONEXCEL

 SHAREHOLDER’
STRADEBOOK

 JOBPOSTI
NG
 TRAI
NINGANDI
NTERNSHI
PDETAI
LS
TASKSASSI
GNEDANDCOMPLETEDTI
LLNOW ( LL31STMARCH2022)
UPTO3MONTHSTI

1STMONTH:

LEARNTABOUTTHESPECTRUM SOFTWAREOFTAXRETURNFI
LING.
SPECTRUM I
STHESOFTWAREFORFI
LINGI
NDI
ANI
NCOMETAXRETURNS
FORMS.

 OVERVIEW OF SPECTRUM:COMBINATI
ON OF ZEN I
NCOME TAX
AUDITOR EDI
TION,ZEN E-
TDS,DOCUMENT MANAGER ,PROJECT
REPORT,FORM MANAGER

 MANAGI
NGCLI
ENT’
SACCOUNTS:

 SELECTI
NGCLI
ENT(
UNI
QUECODEFOREVERYCLI
ENT)

 ENTERI
NG THETRIALBALANCE DATA FROM QUI
CKBOOKS
SOFTWAREINTOSPECTRUM.

 CHECKI
NG BALANCES AND FI
GURES AS PER QUI
CKBOOKS
RECORD

 MATCHING THE BALANCE SHEET AND PROFI

T AND LOSS
ACCOUNT GENERATED IN SPECTRUM WI TH THOSE IN
QUI
CKBOOKS.

 ONCE TAX AND I NCOME COMPUTED, CHECKI NG

DEDUCTI
ONS,DEPRICI
ATION,I
NTERESTS,REMUNERATI
ONS
ASPERITREGULATI
ONS.

 ADDI
NGNEW CLI
ENTI
NSPECTRUM (
BASI
CDETAI
LS)

 BANKDETAI
LS

 AADHARCARD

 OTHERNECESSARYDETAI
LSTOBEFI
LLEDUP

EXCELMANAGEMENTSKI
LLSI
NBOOKKEEPI
NGANDDATA
COLLECTI
ON

 MATCHINGFI
GURESOFSHAREHOLDERSTAKENFROM VARI
OUS
ACCOUNTSANDBOOKSWITHTHEMASTERBOOK.

 HIGLI
GHTI
NGTHEAMOUNTSWI THSEPARATECOLOUR
SHADESFORSEPARATI
NGVALUEBELONGINGTODIFFERENT
CATEGORI
ES

 FOREXAMPLE: CHECKI
NGVALUESINFILESSUCHASEQUI
TY
BOOK,GENERALSTATEMENTBOOK, COMMODITYBOOKAND
THANMATCHI NGTHOSEVALUESINTHETRADE(MASTER
BOOK)SHADINGDIFFERENTCOLORSFOREACHACCOUNT
MATCHED.

 USI
NGFILTERSTOSEGREGATEBUYTRADESANDSELLTRADES
ORALLOCATIONANDDEALLOCATI
ONENTRIES.(
SUMMARY
MAKING)

2ND MONTH:

QUI
CKBOOKS(
BANKI
NG)
QuickBooksi
saf ul
l-
featur
edbusinessandfinancialmanagementsuitecompl et
e
wit
ht ool
sforaccounti
ng,i
nventor
y,payr
oll
,taxfil
i
ng, inv
oici
ng,bankaccount
tr
ackingandreconci
li
ati
on,expensemanagement , budgeti
ng,paymentprocessi
ng,
andaccountsrecei
vableandaccountspayablemanagement .

 BASI
COVERVI
EW OFQUI
CKBOOKS

 SI
GNI
NWI
THCAFI
RM’
SIDANDPASSWORD
  SELECTCOMPANYTOBEWORKEDUPON

 BANKING:AFTERSELECTI
NGCOMPANY,
SELECTBANKI
NGOPTION
ANDSELECTTHEBANKACCOUNTTOBEWORKEDUPONFROM ALL
THEBANKACCOUNTSOFTHECLIENT

 BANKRECONCI
LATI
ON:
o OPENINGTHECLI
ENT’
SBANKACCOUNTTOBERECONCI
LEDI
N
QUICKBOOKS.

o KEEPI
NGINTOUCHWITHTHECLI
ENTONGMAILFORBANK
STATEMENTSOFMONTHSTOBERECONCI
LED

o FI
RSTLYLOOKI
NGFORBANKTRANSFERSFROM THEACCOUNT
TOOTHERBANKACCOUNTSALREADYINCLI
ENT’SBOOKS.
MARKINGTHEM I
NADVANCE

o DEPOSITSI
DEINBANKSTATEMENTADDEDTOCLI
ENT’
S
QUICKBOOKACCOUNT:

 CLI
CKI
NGON‘
MAKEDEPOSI
TS’
OPTI
ON

 ADDI
NGTYPEOFDEPOSI
T,ACCOUNTI
NWHI
CHI
TWI
LL
BESHOWNANDAMOUNT

 PUTTI
NGDATEASPERSTATEMENTANDTHAN
UPLOADI
NG

o EXPENSESANDCHEQUESTOBEADDED:

 CLI
CKI
NGON‘
CLEARCHEQUES’
OPTI
ON

 ADDINGEXPENSESINI
TANDSELECTI
NGTHETYPEOF
EXPENSE.FOREXAMPLEKFCUNDERMEALSAND
ENTERTAINMENTHEAD

 ENTERI
NGCHEQUESWI
THDATEANDACCOUNTNUMBER.

o FI
NALSTEPOFMATCHI
NGQUICKBOOKSAMOUNTSOFDATA
FEEDEDWI
THTHEBANKSTATEMNTOFCLI
ENT.

o BRI
NGI
NGDI
FFERENCETOZERO(DEPOSI
TSMI
NUS
 WI NGSTARTANDENDBALANCE.
THDRARWALS)ANDCHECKI

 NOTINGDOWNTHESUMMARYOFWORKDONETILLDATEOF
RECONCI
LATI
ONINEXCELANDSENDI
NGTOCLI
ENT.

3RD MONTH

BANKAUDITS:GOI
NGTHROUGHRECORDSANDFILEANDCHECKING
(COMPULSORY)DOCUMENTSREQUI
REDOFBANK’
SCLIENTSASPER
I
NCOMETAXDEPARTMENT

STATUTORYAUDI
TATPUNJABANDSI
NDBANK(
COURTROAD
BRANCH)
 TAXAUDI
TMANDATORYFORTAXPAYERSWITHTURNOVEROFRS1
CROREANDABOVEI
NTHEFINANCI
ALYEAR

 GOINGTHROUGHALLTHERECORDSANDFI
LESOFCLI
ENTS(
TILL
DATE).

 LOOKI
NGFORVARI
OUSDOCUMENTSI
NTHEFI
LES:

 BALANCESHEET(
TILL31STMARCH,
LASTFI
NANCI
ALYEAR)

 STOCKSTATEMENT(MOSTLATEST,
PREVI
OUSMONTH)

 RENEWALSTATEMENTBYBANKATTACHED

 I
NSURANCEPAPEROFPROPERTY(CURRENTLYONGOI
NG)

 PROPERRYVALUATI
ONLATEST

 STOCKI
NSURANCEPAPERS(I
FDONE)

 CALLI
NGTHECLI
ENTSTOSENDMI
SSI
NGDOCUMENTSI
NSHORTTI
ME

THI
SWASAMONTHLYAUDITWHICHISAPREPARATI
ONFORTHEYEARLY
AUDI
TTOBEUNDERTAKENBYCAsASSI
GNEDBYAPRIL.

TASKSYETTOBECOMPLETEDANDFURTHERPLANS
  GSTRETURNFI LI
NG:SINCESTARTI
NGOFNEW FI
NANCI
AL
ST
YEARFROM 1 APRI L,
GSTRETURNFILI
NGWOULDBE
THEMAINFOCUSFORTHEAPRI LMONTH

 JOBPOSTING:DOI
NGJOBPOSTINGFORTHEAMRI
TSAR
CAFIRM BRANCHONFACEBOOK,LI
NKEDI
NANDOTHER
RECRUI
TINGPLATFORMS

I
NDEPTHWORKI
NGOFSPECTRUM ANDQUI
CKBOOKS

 BANKSUMMARYFORMATION(GROUPI
NGENTRI
ESFROM
SAMEACCOUNTSANDVENDORSANDSUMMARIZI
NG)

 BANKRECONCI
LATI
ONUSINGQUICKBOOKSALONGWI
TH
‘
GOTOMYPC’ FORFOREI
GNCLI
ENTS

CONCLUSI
ON
Worki
ngatGVNKAi sanenrichingandr ewardi
ngexperienceformegivingmean
opport
unit
ytoexpl
oreandhonemyski ll
s. 
GVNKAof fer
sexciti
ngopport
unit
iesthat
wil
lchall
enge my abil
it
ies,expand skill
s and reward my contr
ibut
ions i
n an
atmospheret
hatencour
agespr ofessi
onalandpersonalgrowth.

STUDENTDECLARATI
ON

IANIMESH SALHOTRA (
BCOM HONS SEM VI)
,HEREBY DECLARETHAT THE
PRESENTEDREPORTOFI NTERNSHIPATGVNKAANDASSOCI ATESI
SUNI
QUELY
PREPAREDBYMEAFTERTHECOMPLETI ONOF3MONTHSWORKATAMRI TSAR
BRANCHOFGVNKAANDASSOCI ATES.

ANIMESHSALHOTRA
17241982977
BCOM (HONS)SEM-VI
GURUNANAKDEVUNI VERSI
TY