Bookkeeping involves the recording of a company’s financial transactions. The transactions will have to be identified, approved, sorted and stored in a manner so they can be retrieved and presented in the company’s financial statements and other reports. Here are a few examples of some of a company’s financial transactions:-
- The purchase of supplies with cash.
- The purchase of merchandise on credit.
- The sale of merchandise on credit
- Rent for the business office.
- Salaries and wages earned by employees.
- Buying equipment for the office.
- Borrowing money from a bank.
The transactions will be sorted into perhaps hundreds of accounts including Cash, Accounts Receivable, Loans Payable, Accounts Payable, Sales, Rent Expense, Salaries Expense, Wages Expense Dept. 1, Wages Expense Dept. 2, etc. The amounts in each of the accounts will be reported on the company’s financial statements in detail or in summary form.
We help you to meet all these requirements of bookkeeping with our experienced personnel and provide you complete information for decision making.
In Accounts Payable Section we do following work for our clients:
- Invoice processing, that includes PO, Non-PO, Legal, Utility, Credit/Debit Memo, Freight etc.
- Handling the various Error Resolution queues, verifying the correctness and accounting the same in the respective ERP Systems (Oracle and SAP)
- Vendor Reconciliation
- GL Reconciliation
- GRNI Reconciliation
- Bank Reconciliation
- Payment Disbursement
- Debit/Credit Balance Clearing
- Hold Invoices (Parked and Blocked)
- Check Defects that includes Return, Refund and Stale Checks
- Software we use ORACLE and SAP
VAT is levied on most goods and services provided by registered businesses in the UK and some goods and services imported from outside the European Union. We prepared Vat returns for both UK and European Union. Our proficient finance and accounting services team will first compare the output and the input of the VAT returns to earlier quarters. We will then perform effective analysis and review procedures to make certain that the completed transactions are well recorded. Apart from this, our competent finance and accounting services team can also handle explicit VAT schemes specifically related to certain professions.
We provide cost-effective and professional VAT return services that can cater to all your organizations requirements. Value added tax (VAT) is a very overwhelming task for an organization to handle, requiring skilled manpower. Outsourcing VAT return services to India can help you save on cost, time, money, effort and at the same time benefit from professional and cost-effective services.
Tax Planning and Return Preparation Services
With proactive communication and strategic tax planning, we provide assurance that you will not receive any last-minute surprises. We contact our clients well before year-end to help identify opportunities for tax minimization.
Our professional staff stays up-to-date on ever-changing tax laws and are committed to examining all the tax-saving opportunities available to you. We work to maximize your deductions and minimize your tax obligation while remaining in full compliance.
We assist in following ways:
- Complete your tax return
- Calculate your tax liability
- File the return online
We assist and provide professional guidance in maintaining and keeping the Accounting Services up to date, on almost all types of Accounting Services software like Tally, Busy, customized ERP or SAP.
Our technical expertise can provide timely and cost effective solution in any type of accounting services requirement.
We value the relationships we have established for providing Accounting and Bookkeeping Services.
Payroll in the sense of “money paid to employees” plays a major role in a company for several reasons.
From an accounting perspective, payroll is crucial because payroll and payroll taxes considerably affect the net income of most companies and because they are subject to laws and regulations (e.g. in the US, payroll is subject to federal, state, and local regulations).
The primary mission of the payroll department is to ensure that all employees are paid accurately and timely with the correct withholdings and deductions, and that the withholdings and deductions are remitted in a timely manner. This includes salary payments, tax withholdings, and deductions from paychecks and we are well known about all these aspects and ready to meet all points for client’s satisfaction.
After processing all inputs by bookkeeping into various softwares, we towards year end accounts for the sole trader, partnership firm or limited companies for their particulars periods of accounting. We analyze all the facts and information considered in the bookkeeping and after analyzing the matter of facts and taking confirmation if any doubt arises from the client, we finally prepared the Year end accounts. We prepared these accounts in the both software and excel spreadsheet.
Recovery of Payments
A special team of accountants is fully engage with recovery of all kinds of payment and deals with all scale of company whether small size, mid size and large size. Our accountants deeply analyze the recoverable data of the company and prepare reconciliation to get the creditors understand easily. Below are examples of payment that we have expertise.
- Duplicate Payment
- Over payment
- Debts Recovery
- Incorrect payment