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Accounting / Bookkeeping

Accurate and quality accounting is the backbone of any business. To keep business managers/individuals free from hustles of maintenance of books, we are here for you by providing cost-effective and efficient services.

By partnering with us, you will get following services:

❖ Verifying and recording vendor’s invoices along with stock inward entries, if any,

❖ Recording revenue and other income transactions along with stock outward entries, if any,

❖ Verifying and recording of expenses,

❖ Bank Reconciliations,

❖ Regular checking and reconciliation of all accounts,

❖ Periodic review of all ledgers,

❖ Sharing of query sheets on a periodic basis and taking formal follow ups,

❖ Finalizations of Books of Accounts for preparation of tax returns.

Year End Finalization

This service includes timely preparation of Profit & Loss account and Balance Sheet in an accurate manner. We ensure all accounts are properly checked and reconciled in a very logical manner and in accordance with the requirements of applicable accounting standards.

Payroll Advisory

Payroll management is a time-consuming process and requires knowledge of applicable laws and a high level of accuracy. As an outsourcing partner, we will provide cost effective and efficient outsourced solutions for all of your payroll needs like weekly/monthly payroll, pay slip creation, Headcount reconciliation, etc.

Management Consultancy

Following services are included in Management Consultancy:

❖ Monthly preparation of MIS reports consisting variance analysis, pricing analysis, ratio analysis etc. ,

❖ Assistance in decision making by providing quarterly/annual financial reports having in depth and critical insights regarding financial analysis & various business KPIs,

❖ Revenue leakages identification,

❖ Standard operating procedures (SOP) preparation for all business activities,

❖ Timely preparation of documents & reports which are required to be submitted to the banks & government authorities with respect to loans & compliances (E.g., Quarterly Submission of Stock and debtors schedule to bank with respect to working capital loan taken).

Pre-audit Review of Books

Following services are included in Pre-audit review of books:

❖ Ensure the completeness & accuracy of books by verifying that all transactions are properly recorded,

❖ Perform cut off procedures to ensure that all supplier invoices, sales invoices, expenses are recorded in the same financial year of which it pertains,

❖ Ensuring that all year end procedures including legal compliance are properly complied with,

❖ Identification of accounting errors through detailed ledgers scrutiny,

❖ Inspection of all entries related to deferred revenue, unbilled revenue, prepaid expenses and like others,

❖ Finalizing & Providing draft set of financial statements post considering the all adjustments identified during the pre-audit review.,

Account Receivable Management

Efficient management of working capital cycle and timely collection of receivables from customers is a continuous and timeconsuming process. By partnering with us, you can save your valuable time and invest the same to make a growth of your business.

In Accounts Receivable management, following services are covered:

❖ Managing customer billing to ensure faster processing of the invoices which leads to increase in cash flow,

❖ Periodic review of credit terms of the customers and compare the same with peers and make analysis of opportunity cost, debtors turnover ratio,

❖ Preparing customer ageing reports and dividing into different buckets considering the overdue days so as to ensure periodic review of receivable to avoid any future losses due to bad debts,

❖ Formal follow up process for aged receivables and timely reminders to customers via mail,

❖ Suggesting incentive & discount policies considering cost-benefit analysis to speed up the collections management,

❖ Suggesting policies for provision for doubtful debts,

❖ Requesting periodic balance confirmations from customers for reconciliation of outstanding balances.

Account Payable Management

To make strong vendor relationships and a good reputation in the market, an efficient account payable management system should be in place to strengthen the vendor pay cycle.

Following services are included in Accounts payable management:

❖ Verifying and processing of purchase orders and managing vendor billing,

❖ Monitor all vendor payment agreements to find discounts that can be availed by doing cost-benefit analysis to reduce invoice amounts,

❖ Ensure all statutory dues are paid within the timeline set by the government,

❖ Reconcile payable reports each month to confirm that all amounts paid were accurate,

❖ Keep track of credits owed to the company and ensure all credits are properly applied to vendor payments,

❖ Preparation of account payable ageing reports,

❖ Requesting periodic balance confirmations from vendors for reconciliation of outstanding balances.

Fixed Assets Management

In the fixed assets management, our primary responsibility is to provide our client with accurate and timely information related to fixed assets, and to help in ensuring that their fixed assets are properly managed and accounted for.

Following services are included in fixed assets management:

❖ Preparation of fixed assets register of all fixed assets owned by client, including their description, acquisition date, cost, and useful life etc,

❖ Verifying the invoices of new assets acquired and ensure the proper capitalization of the same. This process involves recording the fixed asset in the accounting system, including its purchase price, useful life, depreciation method, and any other relevant information,

❖ Calculation and recording the depreciation of fixed assets based on its useful life and depreciation method in accordance with the relevant accounting standards and applicable laws,

❖ Ensuring that the disposal of fixed assets is properly recorded and accounted for, and any proceeds from the disposal are correctly allocated,

❖ Provide assistance in making capital budgeting decisions related to fixed assets, such as whether to acquire or lease the assets and continue or dispose the assets etc.

Software Transition Management

In software transition management, we focus on a smooth and successful transition from one software to another software, minimizing disruption to your business operations.

Following services are included in transition management:

❖ Help you in selection and evaluation of the new software that best meets your needs,

❖ Develop a detailed transition plan that outlines the steps involved in the transition, including timelines, milestones and key performance indicators,

❖ Providing assistance in data migration from old software to new software to ensure the all account balances are properly migrated without any issues/errors,

❖ Provide training and support to your team to learn how to make effective use of the new software,

❖ Monitor the whole transition process and evaluate the performance of new software that is in satisfaction of your requirements.

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