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.
Accounting and Finance outsourcing typically involves managing procedure-driven functions such as
Accounts payable
Accounts receivable
General accounting
Acounts Payable
Accounts Payable service is crucial to the business relations and it's bottom-line. Accounts Payable process outlines.
Information Management
Vendor Relationship management
Accounts payable involves the following process
Processing - Payable invoice
Paying the approved invoices on the due dates in concurrence with the pre-planned cash flow projections
Reconciling vendor statement of accounts
Clarifying the queries of vendor
Take complete control of your Accounts Payable function and reduce your costs, improve internal customer service and ultimately increase your bottom line.
Non-EDI Invoices
We process your invoices electronically by converting paper based invoices and loading that into the system. This process commences by managing invoices of your Accounts Payable department. Then inbound Accounts Payable invoices are retrieved, scanned, and digital images, data is returned to the client within particular turnaround times.
It enables the clients to gain access to vendor discount by reducing the time from invoice receipt to pay cycle. Also, Diminishes internal and external audit costs, by allowing efficient access to current and historical documents.
Granting customers peace of mind by providing disaster recovery
Accounts receivable
Accounts receivable service is crucial to the business relations and it's bottom-line. Accounts receivable process outlines:-
Information management
Customer relationship management
Collecting account receivable account receivable report account receivable loan
Collect account receivable account receivable discounting account receivable
Lending account receivable service
Lockbox Services, Merchant Services, Remote Deposit Services, Zero Balance Accounts, Business Capital Purchase Guarantees
Letters of Credit Equipment and Inventory financing Protection against bad debt losses
Cash management services Account collection Import/export trade services
Cash management services Collections Delinquency Management
Creating and/or processing Receivable invoice.
Collections & Debt management in conjunction with pre-planned cash flow projections.
General Accounting
Prakash K Prakash’s vast experience enables us to take the place of an internal accounts department. We provide the level of information that any business needs to monitor its performance, without the associated costs.
Working from prime records and information, such as invoices, cheque book counterfoils, paying-in book counterfoils and bank statements, we maintain records, which constitute the formal books of account of the business.
All normal accounting routines are undertaken, such as bank reconciliations and VAT Returns/TDS Returns at the end of each financial year.
This information demonstrates the services offered, from prime entry, to profit and loss account. Whilst covering the needs of most businesses, there may be individual requirements, for which additional reports would be available.
Outsourcing provides an option for best-in-class finance and accounting practices utilizing the latest technology without all the up-front costs. We can help corporate managers get started on Finance & Accounting Outsourcing. Our research not only provides an overview of the options available, but also the tools to help you make an informed decision to
Find out if Finance & Accounting Outsourcing is right for your organization.
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