A business owner focused on managing operations and creating shareholder value, you seldom have time to oversee your accounting department.
Our experienced accounting professionals can handle day-to-day tasks through our back office accounting solutions.
We provide you with an outsourced accounting team possessing strong accounting knowledge, vast experience across multiple industries and accounting system expertise. Using web-based accounting systems, we staff these positions offsite as well as onsite.
We provides below mentioned services :
a.Complete finance and accounts process outsourcing
In this model, a company usually opts for outsourcing of complete F&A function except some core processes like Treasury, banking etc. In such a scenario, the bandwidth of CFO gets released to a greater extent and he can focus on the business growth of company. Even the responsibility of getting a satisfactory audit (both Statutory and Internal) done lies with us. Below mentioned services are covered in complete F&A outsourcing
There are many companies which just want to outsource a particular part of F&A function i.e. Statutory Compliance, Payroll processing, Accounts payable processing etc. Accordingly, under this model, we take care of that specific part outsourced to us.
oAccounts Payable (Procure to Pay)
§Checking of documents received on various parameters i.e. P.O. terms, GST etc. through a checklist
§Correct deduction of withholding tax i.e. TDS etc.
§Bill wise recording in the accounting software along with detailed narration.
§Profit/Cost center wise recording of expenses
§Processing of bills for payment as per agreed credit period based on complete documentation.
§Generation of various reports i.e. Aging Schedule, Bill wise outstanding report.
§Employ checks and balances to ensure internal control.
§Contractual staff payment and taxation compliance there on.
§Updation of masters relating to accounts payable.
§Keeping track of validity of agreements.
§Preparation of audit schedules and other desired details
oAccounts receivable (Order to Cash)
§ Generation and dispatch of invoices
·Preparation of invoices if it’s a manual activity
·Generation of invoices from the relevant software
·Dispatch of invoices to customers
·E-mailing one copy of invoice for faster processing
·Updating the dispatch information which is available on real time basis
§Payment follow up
·Schedule payment follow-up based on the agreed credit period
·Maintaining the log of previous communication with customer in an online software
·Using the escalation matrix if there is an issue of payment with first level of contact
·Updating cash flow projections accordingly
§Accounting of revenue and receipts
·Bill wise accounting of invoices raised on customers
·Allocation of receipts against a particular invoices only
·Correct accounting of credit notes issued to clients
·Correct provisioning for doubtful debts as per company’s policy
·Reports and reconciliation
·Debtor’s ageing at a pre-agreed frequency
·Initiating reconciliation of accounts statement with customers at a pre-agreed frequency
·Bill wise outstanding detail of customers to sales team or management as and when required
·Audit support
·Preparation of year end Debtor ageing schedule
·Answering auditor’s queries related to Accounts Receivable function
oPayroll Processing
§Preparation/Creation of Masters of employees.
§Structuring of employee compensation for tax optimization.
§Compilation of Investment Declaration from applicable employees (as per the tax bracket) at the beginning of Year.
§Calculation of Tax Liability of each employee in advance and start deducting withholding tax.
§Deduction and deposit of TDS, PF & ESI and filing of return as per the applicable laws.
§Salary processing on a specified date.
§Preparation of detail for Direct Transfer to Bank a/c (as applicable).
§Advising CPI about adequate insurance coverage for it’s employees.
§Processing reimbursement claim of expense which is part of their salary i.e. Medical, LTA, Telephone/Mobile bill.
§Handling of employees queries.
§Final calculation of withholding tax at the year-end on the basis of actual investment proof.
§Full & Final settlement of employees leaving the Company
§Issuance of Form 16 to each employee within the stipulated time period.
oCompliance Services
§Coverage of Compliance
·Income Tax
·Withholding tax
·Goods and Services Tax
·Compliance related of companies law related matters
·Others
§Scope of Work
·Calculation and deposit of monthly/periodic tax liability
·Availment of input tax credits benefits
·Preparation and filing of tax return
·Preparation of detail required during the assessment proceedings
·Preparation of detail required during Statutory, tax and Internal Audits
