Financial Accounting & Reporting

Sales/Revenue Accounting


  • Sales Order Entry
  • Generation of Sales / Revenue Invoices
  • Preparation of E-Way Bills
  • Debit / Credit Notes
  • Maintenance of Price Lists, if any

Purchase & Expenditure Accounting


  • Purchase Order Entry
  • Preparation of Goods Receipt Note (GRN) (subject to quality approval by client)
  • Accounting of Purchase Invoices after '3-Way-Check' (Order = Receipt = Invoice)
  • Handling of Import Documents for the smooth payments
  • Accounting of Expense Bills after thorough 'Bill Passing & Authorization Procedure'
  • Handling of Field Staff / Travel Expense Reimbursement Process

Receivables, Payables and Bank Reconciliations


  • Handling of Petty Cash and related Accounting
  • Monitoring Receivables
  • Routine Reminders & Following up with Customers for payments (in accordance with the relationship policy of the Client)
  • Handling of Receipts (Digital, Cash, Cheques/DDs received from Customers and timely deposition in Bank)
  • Accounting of Receipts from Customers (Digital, Cash, Cheques/DDs)
  • Monitoring Payables
  • Replying to Vendors queries regarding payments
  • Processing payments to Vendors / Service Providers (via Digital modes or preparation of Cheques/DDs) after due authorisations
  • Acting as Bank Signatories as a service (strictly based on separate Agreement)
  • Processing Import Payments, if any, in accordance with the Exchange Regulations of the RBI, Tax Regulations and Hedging Policy (if any) of the Client.
  • Preparing Bank Reconciliations

Fixed Asset Accounting and Project / Capex Management


  • Accounting of Fixed Assets (acquisition & disposal) along with incidental expenditure like transportation, installation, commissioning etc.
  • Maintenance of Fixed Asset Register as required under relevant laws
  • Calculation and Accounting of Depreciation under relevant laws
  • Preparation of Fixed Asset Schedules
  • Conducting Physical Verification of Fixed Assets
  • Obtaining Valuation Certificate from Registered Valuers for various statutory purposes

Inventory Accounting & Control


  • Accounting of Goods Receipts and Issues
  • Following Perpetual Inventory system with periodical physical verification of stocks
  • Stock Valuation
  • Stock Reconciliation - Quantity & Value [(i) Physical vs Book Stock (ii) Theoretical vs Actual Consumption (Yield) (iii) Opening Stock + Receipts - Issues = Closing Stock]
  • Coordinating and Assistance in Stock Audits
  • Providing data for banks & insurance purposes
  • Support in inventory control, optimization of inventory levels (Order Quantities, ReOrder Levels etc.)

Payroll Accounting


  • Calculation of monthly salaries (incl. statutory & other deductions)
  • Monthly disbursement of salaries
  • Timely deposition of statutory deductions
  • Preparation of data for filing of statutory returns
  • Attending to queries of employees
  • Filing of Statutory Returns and handling of assessments / queries of govt. authorities

Periodical Accounts Closing, and Finalisation


  • Accounting for Monthly/Quarterly/Year-end Accruals - Provisions / Prepayments
  • Depreciation, Amortization, Impairments etc.
  • Third Party Confirmations (Debtors, Creditors, Lenders, Borrowers, Banks, Employees etc.)
  • Physical Verifications of Stocks and Fixed Assets and subsequent journals, if any
  • Various Reconciliations - Third Party Balances, Banks, Stocks etc.
  • Exchange (Re)Valuations for Foreign Currency Assets & Liabilities, if any.
  • Various Disclosures under relevant statutes - Contingent Liabilities, Quantitative Details, Events Subsequent to Balance Sheet Date, Board Report, Tax Audit Disclosures, GST Audit Disclosures
  • Interacting with External / Internal Auditors
  • Any other matters until signing of Financial Statements by the Auditors
  • Preparation of data for Board / General Meetings

FINANCIAL REPORTING


  • Preparation of periodical Financial Statements, namely
    • Balance Sheet
    • Profit & Loss Statement
    • Cash Flow Statement
  • Preparation of Reporting Packages (especially, Reporting by subsidiaries to it's domestic or MNC parent company)
    • In any format, software or reporting tool as may be requested by such domestic or MNC parent
    • In any periodicity, as requested (Monthly, Quarterly, Half-Yearly, Annually or As-and-when)
  • Identifying, Defining and Reporting of Key Indicators for Management
  • Designing and Implementing a Customised Interactive Dashboard Reporting System
  • Generating Special Purpose Reports for Management / Statutory purposes (eg. Data Bank for Shareholder Meetings, Information required by Tax Authorities)