Accounting services

Categories

Bookkeeping

The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system. Teams of experienced professional accountants help you with your transactional bookkeeping and accounting functions, including bank entries, reconciliations, invoice processing, payment allocation, monthly journal entries, sales tax reconciliation, third-party reconciliations, setting up a chart of accounts, etc.

Payroll Services

Accounting professionals provide a well-organized payroll system by making sure that all payroll responsibilities are accurately computed based on their timesheets. From handling payroll obligations, monitoring timesheets, and computing employee compensation to making sure that they are accurately calculated and paid, payroll experts have the necessary knowledge to compute, pay, and file payroll returns.

MIS reports are important for every organization. These reports are prepared for the management of a company based on data collected automatically from different systems within the organization. It is one of the crucial tools that support decision-making processes leading to development in companies. It involves a collaboration of people, data, business processes, software, and hardware.

Preparation of Management Accounts

Account Management services give management access to faster and more accurate interpretation of financial data. This enhances decision-making ability so that proactive action can be taken to improve the financial health of the organization. Account Management Services majorly comprise of:

Regulatory Compliance Services
Due Diligence Services
Financial Statement Audit Services
Business Forecasting Services
Enterprise Performance Management
Budgeting and Forecasting Services
Corporate financial statements
Analysis of financial statements - monthly, quarterly, and annual management reports
Financial ratio analysis, break-even analysis, NPV, and IRR analysis

Compilation and Consolidation of Books & Accounts

Professional experts provide compilation and consolidation services with respect to books and accounts, records, and assets in accordance with applicable Indian Accounting Standards, IFRS, and GAAP provided by the Companies Act, 2013, International Accounting Standard Board, etc.

Intercompany transactions

The objective of intercompany accounting is to strip away the financial impact of internal transactions — financial interactions between related entities within the same parent company to yield financial statements that only reflect activity with independent third parties. Intercompany accounting eliminates financial activity that takes place between two subsidiaries or between the parent and a subsidiary. Elements of intercompany accounting include governance and policies, transfer pricing, data management, transaction management, netting and settlement, reconciliation/elimination, and reporting.

Depreciation Accounting

“Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. The depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value.” With reference to Income Tax Act, 1961 and Companies Act, 2013, there are differences in their accounting treatment and tax treatment, accordingly, our team of professionals provides reconciliation, calculation of deferred tax asset/liability services, etc.

Business Process Outsourcing (BPO)

In the current changing era, the use of BPO has expanded, with for-profit businesses, non-profits, and even government agencies outsourcing a range of tasks to service providers. BPO enables an organization to focus more of its resources on operations that distinguish it in the marketplace. BPO services are primarily classified as under: