Outsourced Accounting Services for Mid Size Businesses

Extensive customer billing experience across multiple types of businesses namely retail chains, real estate companies, IT firms, consulting companies, construction firms and more. Our accountants are well versed with complicated customer billing/invoicing processes such as progressive billing, complex timesheet based billing, commission billing, rent runs (real estate companies) among others.

• Entry of sales invoices on the basis of supporting documentation such as purchase orders, sales contracts, terms of payment
• Entry of daily/weekly/monthly sales in accounting software based on POS systems, ecommerce/online frontends and other billing systems
• Customer payments/receipts processing across multiple payment modes such as cash, bank accounts, merchant accounts and PayPal accounts
• Reconciling income booked in accounting system against the income booked in POS and online store systems
• Ageing of receivables and receivables tracking
• Ensure timely collection and accurate application of payments to the customers’ accounts through email and call based collection support
• Track and resolve delinquent accounts
• Customer reconciliation and emailing of customer statements
• Maintenance of customers database
  • Customer history maintenance
  • Creation of new customers or modification of existing customers
  • Ensuring of appropriate documentation base before adding up a customer
• Tracking of customer security deposits
• Tracking of 1099’s issued by customers

Our team of accounts payable outsourcing specialists and accountants has deep experience in outsource accounts payable and disbursement processes. We process hundreds of invoices daily across real estate, logistics, online stores, IT companies, construction companies and multiple other businesses.

• Creation and maintenance of vendor database
• Tracking vendors and sub contractor records for ensuring compliance to workers insurance and other statutory requirements
• Accurate and fast entry of purchase invoices on the basis of supporting documentation like purchase orders, contracts, and other related documents
• Processing of utility bills in accounting software based on scanned bills and/or by accessing online utility accounts
• Ageing of payables and tracking of payables to ensure early payment discounts and/or adherence to existing payment terms
• Accurate and timely vendor reconciliation
• Issue of 1099s to vendors

• Daily/weekly bank reconciliation based on scanned bank statements or through View Only bank account access
• Timely reporting of cash balances and need for funds to finance controller, CFO or owner
• Provide support documentation and resolving reconciliation related issues through consistent tracking and follow-up
• Weekly/monthly credit card reconciliation and posting of associated journal entries
• Daily/weekly/monthly merchant account reconciliation with customer payments and bank deposits
• Clearing/bridge account reconciliations to ensure that inter-company transactions clear out and are processed accurately
• Accounts payable and receivable account ledger to aging report reconciliation
• Mortgage, escrow, line of credit reconciliations
• Reconciliations of balance sheet accounts such as prepaid assets, accrued liabilities against custom schedules

• Posting of journal entries for accruals, expense reclassifications, prepaid amortizations and other reasons
• Posting of month end and yearly closing entries
• Generate financial statements such as balance sheet, income statement and cash flow statement every month or quarter
• Detailed income statement analysis including mapping revenue trends, expense trends and net income trend on Month to Date, Year to Date and Year on Year comparison basis
• Complete balance sheet analysis of different balance sheet assets, liabilities, investments and equity accounts
• Detailed cash flow analysis to identify cash bottlenecks in supply chain and ways to improve working capital
• Formulation of detailed financial projections including income statement, expense and cash flow projections
• Preparation of user friendly and easily readable management dashboards tracking key operating and financial parameters
• Preparation of footnotes for Annual Report, 10K (Annual SEC disclosure), and 10Q (Quarterly SEC disclosure) highlighting key management and business related issues and developments

• Entry of employee travel bills and expense reimbursement requests
• Ensuring travel, mileage and other expense claims are adhering to the company policies and after requisite approvals
• Filing, storing and archiving of all expense reimbursement/ advance requests according to the established filing procedures
• Preparation of relevant management reports to highlight expense trends for budgetary control and projections and to calculate project profitability

• Process appropriation requests on asset purchase, relocation, leasing and disposals
• Maintain fixed assets register including tracking asset numbers, location, depreciation, current working condition among others
• Calculate depreciation/amortization as per local Generally Accepted Accounting Practices (GAAP) and as per IRS depreciation norms
• Reconcile fixed asset accounting with the general ledger

Our in-depth knowledge of the monthly closing process across a wide variety of clients in different sectors gives us the ability to “Fast Close” of books. These activities include the following:

• Complete reconciliation of all necessary accounts
• General ledger maintenance including clearing suspense entries, clearing accounts, prepaid entries and expense accruals
• Post inter-company transactions
• Consolidate and reconcile sub ledger to general ledgers
• Recognize foreign exchange gain/losses related to receivables, payables and foreign currency bank accounts
• Reconcile inventory with physical inventory count or inventory tracking systems
• Generate trial balance at business segment and corporate level
• Any other client specific custom closing related activity

• Simple to complex business plan formulation services covering preparation of revenue, expense, capital expenditure and working capital schedules
• Preparation of cash flow statements, income statements and balance sheets projections for debt/equity financing proposals
• Preparation of monthly, quarterly and annual forecasts of key financial parameters such as revenues, cash balances based on historic data and current trends
• Financial analysis like ratio analysis, break-even analysis, NPV and IRR analysis, cost analysis among other
• Spreadsheet testing designed to locate potential and actual errors, and providing useful recommendations regarding improvements in model