Accounts outsourcing using Quickbooks Accounting Software –
Intuit’s QuickBooks accounting software is one of the accounting package which has preference among the accounting experts globally. With its user-friendly and cloud based interface; this software helps in automating many of the manual activities associated with Accounting, Payroll Processing and Reporting. It is useful for both sized businesses as well as small business. We, as a professional Accounts outsourcing firm would ensure and optimize all the accounting needs of the client from Setup, Migration, to troubleshooting activities day to day.
Birds Eye View of our services –
Assess the client’s organization needs, understand the process flows and prepare a roadmap to align business activities with the package such as Inventory, Invoicing Formats, Vendor and Customers Configuration, Payroll Configuration, Creation of Profit Centers etc. Integration to various other software like CRM, Stock, and Payroll etc. Not only for new business, helping existing business using other packages in smooth migration of Data. Creation of users and providing with access to the different levels of the clients organization.
Setting up of Inventory module and creation of Stock list. Assigning proper HSN Codes and stock units. Creation of stock units under various SKU’s. Passing Stock adjustment entries and providing Stock position or any other analysis as per the requirement of the Customer.
Customizing the invoice formats as per the needs of the Customer. Support in creation of Invoices and Debit notes compliant with GST or other local Tax Laws. Reviewing and updating the client w.r.t to invoices if generated by the client.
Customer and Vendor Management –
Maintaining the Customer & Vendor Modules, updating all the relevant fields in order to maintain the database. Update the Receipts and Payments made by/to them. Tracking the payments and receipts Bill/ Invoice wise. Maintaining the Bills and Invoices as soft copies and making them available for retrieval by the client. Provide Ageing analysis or reports. Configuring mails to send regular reminders to the customers. Passing Write off entries.
Banking & reconciliation –
Updating of bank accounts and reconciliation of the payments and receipts. Providing the cash and bank position with the customer. Syncing the bank statements and categorizing and tagging the payments and receipts to the respective accounts and getting the clarifications from the clients on regular intervals.
Expense accounts, Fixed Asset accounting and Journals –
Accounting of expenses profit center/ cost center/ branch wise etc. Tracking whether if they are billable or not. Maintenance of Cash ledger. Recording purchase of Fixed Assets. Passing of recurring entries and sending remainders to the client. Passing of Journal entries and maintenance of Ledgers. Passing of Monthly closure entries and accounting for provision.
Payroll Module –
Setup of Payroll module and maintaining all the employee records. Integration of any other software if used by the client. Passing the Payroll entries.
GST & Returns –
Configuration of GST module. Capturing all the entries in compliance with the GST. Generation of returns from the module. Passing the GST Adjustment entries.
Generating the Trail balance, P& L, Balance Sheet and Cash flows on regular Basis. Scheduling of reports as per the requirement of the client. User management and provide access to various reports as per the requirement of the client.
- Numbro’s Online Accounting services give the following advantages to the client-
- Dedicated Quickbooks Expert at Clients service.
- Professionals equipped with Income tax, GST and other local laws, who can assist the clients in filing the tax returns in timely basis.
- Reduced Transaction Processing time.
- Quick response to the clients queries via chats or call.
- Reduced Paperwork and filing space as all the documents are maintained online.
- Reduced Infra Cost and office space as we work in online accounting model.
- Provide in-depth analysis into the business with various kinds of performance reports, Variance analysis, Cash flow reports and any Customized or Adhoc reports on regular basis by scheduling as per the requirements of the client.
- Sale transactions were huge running into number of Hundreds per day, which they have to enter each sale manually.
- Multiple bank statements with huge number to transactions every day.
- Employees’ salaries, expenses and deductions are calculated and recorded manually resulting in errors and disputes with the employees.
- Large volumes of documents and bills which are to be maintained. Many of the bills either missing, erased or damaged. Filing and retrieval of them was a tedious task.
Using Quickbooks accounting software we started serving the client and started addressing the above problems by,
- Exporting the sales from their sales module and imported to Quickbooks a single go which automatically posts to sales ledger.
- Synchronizing the bank with Quickbooks which automatically imports the bank statements and allow us to categorize them to respective ledger. Resulting reduce of feeding the number of entries manually, saving the time and effort. Also the reconciliation feature allow to reconcile regularly.
- Using the payroll module, recording the salaries and deductions which automatically calculate the net payable to the employees and posting to the Ledger automatically.
- Scanning and attaching documents to the respective income and expenses which reduces the filing space and facilitate easy retrieval of the documents.
- Providing various reports which helped them in decision making by measuring the location wise and branch wise profitability, controlling the costs, Compliance with the statutes etc.
This way we started optimizing the accounting and reporting needs of the client.