Accounting Outsourcing Services
Accounting Outsourcing Services
Being a business owner or a manager for your company can sometimes mean you are the one keeping an eye on everything. Being responsible for your company’s success and making sure everything happens as you have envisioned, is a tough job that you do well. But there is one specific area that should be the same for all companies, something that is only correct without any creative input - accounting.
Today most companies know of outsourcing and use this method with their IT or HR processes. Still, there are many more ways that outsourcing could benefit a company (large and small). Keeping your company’s finances well-tracked and accurate is where an experienced accounting firm can lend a hand.
Outsourcing is hiring another company or individual outside of your own to manage various business-related processes and activities. This is done instead of using an in-house team or an individual.
Outsourced accounting, therefore, means hiring a service that provides a full accounting department experience. This usually comprises everything from the day-to-day transaction coding, accounts receivable, accounts payable, payroll and taxation to managing financial reporting.
Huge dependency on the team members for lack of documented and well defined processes
Subjectivity while processing of payments
Regular late sittings
Compliances are filed at the 11th hour with virtually no time left for review
Delay in getting any customized report because of an unorganized working style of team members
System driven approach in whatever we do.
Deep focus on basics of accounting i.e. detailed narration, back up document for any kind of reconciliation, understanding the flow of transactions.
Real time monitoring system of work allocated to our people.
Increase in Company profitability by > 10%
Implementation of ERP became very smooth
Removal of subjectivity in payment processing
100% Tax compliances
Monitoring & Measurement of internal SLA’s
Reduction in L&P expenses by > 20%
Flow chart based SOP’s
We have two models for the outsourcing of accounting services:
Offsite
In the offsite model of accounting, the services are provided from our office premises. The Majority of our clients avail of this model of service. All the physical documents come to our office through courier or other agreed collection process. We store the documents for another 6 months after the close of the financial year as the majority of the compliances gets completed by that time. Post that period, records/documents are handed over to clients in a highly organized format which makes their retrieval a cake walk.
Onsite
Under this model of accounting, our team is placed at the client’s office itself, however, it is supervised by us only. Usually, this model is preferred by the client with a small team size requirement.
To see how Finanzus can help you in your Outsourcing your Accounting Operation, get in touch with us at info@finanzus.co or call us at +91-9926994500