Accounting outsourcing services are a key strength area for us. Outsourcing accounting is a growing trend among small medium businesses as it provides a cost-effective way for organizations to improve their finance and accounting functions? We are a specialist finance and accounting outsourcing service provider and have served hundreds of businesses over the last twelve years. Our accounting outsourcing services range from simple cash based update of books (cash accounting) to a full range of accounts payable, accounts receivable and general accounting services. Our outsourcing accounting services are customized to address the needs of small businesses. Small businesses face multiple constraints that need to be factored in while transitioning work to India. These include lack of supervisory staff at US end, undocumented and unstructured processes, busy schedule of owners, inconsistent accounting practices and sometimes inaccurate historical records.
Our expertise in accounting outsourcing services helps us handle and manage these issues well. We maintain a special team of small business accountants, who have a broad range of accounting skills and are not function focused. For instance, an accountant working with large companies may have depth of knowledge in a specific accounting function such as accounts receivable or accounts payable and may have good expertise in following a well laid out client process. However, he/she may not have accounting expertise in handling scenarios where substantial clean-up of historic records is required, where an accounting process has to be set-up from scratch, or in scenarios of limited data. Small business accounting requires a specific skill set and experience in accounting outsourcing field. We have both experience as well as skills to make outsourcing accounting services work for a small business.
Our Credentials
- 300+ clients served since 2014 across North America in all major states
- High client satisfaction – Most of our clients have been with us since 8+ years
- Senior management team with rich outsourcing and management experience since 2003 in global companies
- Staff with at-least four years of relevant outsourcing experience
- High expertise in QuickBooks (Pro, Premier, Enterprise and QB Online), Xero, NetSuite, Yardi, AppFolio, OneSite, MRI and Sage
- Spacious office set-up with modern facilities, high speed internet, backup power supply and dual monitors
- Data confidentiality maintained through multiple measures
- Multiple US phone numbers for easy communication
Our Services
- Creation of purchase orders (POs)
- Entry of invoices including 2/3 way matching with POs and packing slips
- Disbursements processing- entering checks, ACHs and transfers
- Accounts payable reports including aging report
- Set-up of vendors in accounting system with proper documentation
- Vendor coordination and query resolution
- Vendor compliance tracking- insurance certification, lien waivers etc.
- Vendor reconciliations
- Miscellaneous accounts payable tasks
- Creation of sales orders
- Billing services: creation of sales Invoices including itemized invoices, time-sheet based invoices, construction draw invoices etc.
- Customer receipts processing/cash application services
- Aging of receivables and receivables tracking
- Set-up of customers in accounting system with proper documentation
- Email based collection support
- Miscellaneous accounts receivable tasks
- Bank account reconciliations
- Credit card reconciliations
- Mortgage account reconciliations
- Escrow account reconciliations
- Line of credit account reconciliations
- Merchant account reconciliations
- Inter-company reconciliations
- Petty cash reconciliations
- General ledger maintenance
- Monthly accruals of recurring expenses and utilities
- Prepaid amortizations
- Maintaining month end closing schedules
- Monthly review of select balance sheet accounts
- Preparation and filing of sales tax and franchise tax returns
- Payroll processing including gross and net pay check calculations based on FUTA, SUTA, SS, medicare, garnishments, and 401(k) deductions
- Updated employee records and legal regulation
- Live time access to view and analyze all payroll
- Keep record of cash required before payroll processing
- Timely deposit of all federal, state and other payroll taxes
- Electronic filing of all state and federal payroll returns
- Periodic physical inventory to books inventory reconciliation
- Set-up and maintenance of inventory item list in accounting system
- Tracking of inventory losses and inventory control
- Clean-up of inventory lists by inactivating items, removing duplicate items etc.
- Employee list/database management
- Scrutinizing and validating invoices against existing T&E policies
- Processing of T&E claims as per documented procedure
- Travel and expense accounting including entry of travel and expense bills, mileage accounting, employee reimbursements
- Updated fixed asset register with new asset additions, dispositions and write-offs
- Reconcile fixed asset and other associated sub-ledgers to general ledger
- Calculation of depreciation based on different depreciation rates and methods
- Preparation of journal entries such as – expensing of fixed assets, depreciation entries, asset purchase/sale and write-off of old or fully depreciated assets
- Accounting for sale/disposal of assets
- Simple to complex business plan formulation
- Preparation of monthly, quarterly and annual forecasts of key financial parameters
- Financial analysis like ratio analysis, break-even analysis, NPV and IRR analysis
- Customer profitability analysis
- Sensitivity analysis
- Sales product mix analysis
- Make vs Buy/Buy vs Lease analysis
- Balance sheet
- Income statement
- Cash flow statement
- Inventory reporting
- Monthly financial analysis of income statements
- Expense reports
- Custom reporting
- Financial dashboards
- Sales dashboards
- Detailed expense trend dashboards
- Portfolio dashboards
- Employee/Agent dashboards
- Operational dashboards customized to industry requirements
- Detailed operating budgets covering projected revenues and budgeted expenses
- Departmental level budgets/divisional budgets such as marketing budgets, sales budgets
- Cash-flow budgets at company/ departmental/locational levels using a variety of methodologies
- Set-up of accounting systems and procedures
- Clean-up and updating of historical transaction records
- Year end audit support
- Accounting software transition including set-up of lists (customer, vendor, employee, inventory etc.), chart of accounts and transactions