Accounts Outsourcing

Professional Accounting Services is the procedure by which financial information about a business is summarized, interpreted, noted, classified, and communicated. We provide finance and accounting outsourcing solutions to organizations interested in increasing their operating efficiency and effectiveness.

As an independent corporation, we are familiar with the accounting needs and desires of high growth, fast paced companies. We apply a significant amount of our time to learn client business, to understand how precisely we can be of aid to them. This includes the writing up of accounts and the preparation of financial statements. It encompasses a wide area ranging from simple Book keeping to complex financial analysis.

Accounting and financial information is crucial for companies eager to maintain the competitive edge in the market. Outsourcing back-office accounting and finance facilitates the clients to focus on core business and also reduce costs.

These services are structured to suit an individual client's needs and requirements. Some of the accounting services being outsourced are:

General Accounting and Bookkeeping Services

The service involves preparing and maintaining day-to-day bookkeeping and monthly or quarterly management accounts. These books are prepared as per the US GAAP or Indian accounting standards and can also be made as per specific client instructions.

We offer weekly, Bi-weekly, monthly or yearly Accounting and bookkeeping including reporting services. Our Services covers all aspects of accounting and bookkeeping, including: –

• Entry of transactions
• Journal Entry
• General Ledger
• Assets /Equipment Ledgers
• Expenses Ledger
• Accounts Receivables
• Accounts Payables
• Ageing Report & Summaries
• Bank Reconciliation
• Financial Statements Preparation
• Trial Balance
• Income Statement (Profit & Loss)
• Balance-sheet
• Cash Flow Statement
• Preparation of Annual Financial statements

Financial Services

We provide financial services which includes "Financial Projections," Forecasting and Analysis for your existing business or for new start ups to help you with your Project reports, Funding applications and loan applications from various funding Agencies.

To enable us to prepare your detailed financial projections for new start ups, you just need to fill up basic data requirements as per our template and in turn we will provide you comprehensive financial projections upto 10 years. Some of Reports of the Projections are :

• Cash flow Statement
• Cost of Project and Means of Finance
• Assessment of Working Capital requirements
• Projected Profitability statements
• Projected Balance-sheet
• Capacity utilization Statement
• Raw Material and Packing materials Consumption Statement
• Power and Fuel Cost Statement
• Employees Costs Statement
• Administrative Cost Statement
• Selling and Distribution Cost Statement
• Financial Charges statement
• Repayment Schedule for Financial Facilities
• Ratio Analysis
• Break-even Analysis
• Internals Rate Return
• Pack back Period

For the existing businesses we can provide comparative statements of the last 3 years financial results with the projected statements for the subsequent two years to facilitate roll over/ enhancement of the continuing financial facilities as per the client needs. Some of the Reports would be as under;

• Comparative analysis of Balance Sheet
• Comparative statement of Sources and Uses of Funds
• Comparative Cost & Profitability Statement
• Comparative Capacity utilization statement
• Assessment of net working capital employed
• Ratio analysis.

Payroll Services

We can take care of your Payroll needs, providing you with a immediate cost reductions of upto 40-50%, and minimizing your risk of penalties and also saves a lot of time to focus on your core business more efficiently.

We can relieve you of time taking and tedious numerous work such as keeping track of Time cards/sheets, leave forms, attendance records, deadlines, reports, Prepare employee earnings statements complete with current pay period and year-to-date wages, taxes, and adjustment, Prepares timely and accurate notifications of tax liabilities and deposits, Complete Year end Salary Certificates , Respond to requests for employee verifications, Prepare, file, and pay all Federal, State, and local payroll taxes, Reconcile health insurance payments and make payroll deductions when required etc.

We work as your accounting back office, to provide you with accurate, timely, with minimized risk all your payroll related activities. These repetitive activities once outsourced to AccountsNext will deliver cost savings, from hiring, training and managing the in house staff, and also enable you to focus on your core business besides always having your employees satisfied with timely and accurate payments. We also offer customized payroll processing solutions to fit your requirements, Please feel free to ask us, how we can assist you.

Benefits of Outsourcing Payroll Services to AccountsNext

• Cost benefit to the tune of 40-50%.
• Reprieve from repetitive, tedious administrative work
• Timely and Accurate Payments
• No risk of penalties or fines on accounts of mistakes or delays
• Complete compliance of regulations
• No Staffing requirements, no hiring, recruiting or training needed.
• More time to focus on core competencies
• Present staff is free in taking more responsibilities.
• Payroll taken care by experts.
• Quick Turnaound.

Services Offered in Payroll Outsourcing:-

• Preparation of employment contracts
• Withholding tax compliances by the employer
• Fringe Benefit Tax (FBT) compliances
• Employee Compensation Structuring
• Provident Fund, ESI and Gratuity related legal compliances
• Preparation of Compensation and Benefits Manual
• Advisory Services in regards with the payroll

Tax planning & Returns

The service involves helping the clients make necessary periodic income tax, sales tax and other returns. It also includes helping the client make sound investment decisions and help him avail various rebates and deductions.

Creditor Payment

The service involves paying off the creditors at a chosen time and leaving the ultimate control with the management.

Debt Collection

The service involves assisting the client with the recovery of debts. Taking necessary legal action in case of defaulters.

Cash Handling and Banking Operations

The service involves assisting the client with treasury functions including the operation and monitoring of high interest deposit and current accounts.
Online Accounting Flowchart

• Receiving client data through scanned images via Internet through a secure FTP account / getting access to the client server by remote desktop connection
• Review of the client information and understanding his requirements. Instructions are issued to the staff and a confirmation memo is dispatched to the client
• Data is entered in the client's computer by using remote desktop connection. Work can also be done by accountants on their computers and then the files can be transmitted using secured e- fileshare system.
• The output is reviewed by accountant for QC.
• If the work is done on the client's server using UPN, the accountants send progress report on a daily basis, informing the status of job. If the work is done on local machines, the work is uploaded and a report of the same id sent to client using a secure FTP account.
• Written reports are sent at each stage and the accountants have continuous communication with the client via e-mail, chat, VOIP, telephone video conferencing.
  Why outsource accounting services to us?
• Financial reporting analysis
• Avoiding capital expenses
• Cash flow analysis
• Monthly, quarterly, and yearly reporting
• High Quality.
• Quick Turnaround Time
• Concentrate on other business priorities
• Undertake projects - full-time or part-time, ongoing or temporary,