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Proper Bookkeeping of an account is crucial as it helps the management analyze several factors like revenue generation, incurred expenses and profitability from projects. It also assures statutory compliances on a timely basis. Financial accounting outsourcing helps in determining the cost of each products and the associated overheads in carrying out the business activity.
Finding the right talent for accounting is very difficult now a days and it is more so if you are a start-up company with a small budget. Finding an expert accountant is not only a tedious job but it is also very expensive. Outsourcing financial accounting and bookkeeping is a great alternative and it has several benefits from both quality and cost saving perspective.
-Client gets a highly qualified financial accountant
-There is a saving of space, expenditure spent on financial accounting software, infrastructure and other overheads relating to employee and bookkeeping activity.
-The client need not think about the attrition rate as this is managed by us
-A monthly Management Information System specific to the business would be provided to the client who helps the client to take key business decisions.
The first and the crucial part of the process is understanding the client’s business so that we device the most relevant Management Information System (MIS) as per the clients need. We also make sure that the customer is aware about the steps we take towards a better accounting and also the MIS we can deliver at the end of every accounting period
We prepare the chart of accounts based on the nature of transactions and business model.
We provide a list of compliances that are applicable and the due dates to comply with all the requirements.
We file all the tax returns applicable for the business.
We provide MIS on Accounts payable, Accounts receivable, Cash position and other relevant MIS like Profit and loss account and Balance Sheets at agreed intervals.
We help our client with tax management and planning activity on a regular basis. In short, we take care of all the financial accounting and bookkeeping activities.