Accountancy and bookkeeping:
Extra benefits
- Operational level involvement
- Value added support as a business partner
- Access to latest technology without investment
- Full Tax, Compliance and Regulatory support
- Interim FD/FC and financial management support
What to outsource
Bookkeeping and accounting
We can relieve you and your staff of an enormous burden by taking care of all your bookkeeping and accounting needs, including the preparation of your annual accounts, tax and VAT compliances, returns and reports.
Our first step is to work with you so we can gain a full understanding of your business. We then tailor our approach to your requirements so we can provide exactly the service you need. Besides your core bookkeeping, we can also maintain your compliance requirements and take on short-term projects to relieve your staff of any temporary overload. But perhaps the most important part of this service is the preparation of management accounts. These are vital to the continued success of your business.
Our firm is highly computerised and we can assist you computerise your accounting department too. We will help you choose the most appropriate software and help you get it up and running, tailoring for your company where necessary and then providing some training and ongoing support until you can run independently.
We cover maternity leave or cover where you are temporarily without an internal accountant. We run a highly organised outsourcing department that can take over the whole of your accounting department. We discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.
Our services include:
- Computerised book keeping service
- Receivables and payables management
- Treasury and cash flow management
- Asset and inventory management
- Support in preparation of Annual Financial Statements
Financial Management
Every business must continually review both current financial and non-financial information in order to successfully plan the future direction of the organisation.Thus our services would include:
- Regular attendance at business meetings
- Preparation of annual business plans, forecasts and other projections
- Delivery of regular management information
- Management information system reviews and development
- Review of credit control and cash management procedures
- Formulation of strategies for business acquisitions, disposals and retirement planning
- Advice regarding pensions, insurance and employment issues.
Company secretarial: Assuring compliance with the Companies Act
Compliance with The Companies Act is time-consuming and is increasingly complex yet failure can lead to penalties and sometimes prosecution of directors.
We provide pro-active company secretarial services, to relieve you of both the burden and the worry delivering peace of mind on regulatory compliance, as well as ensuring timely compliances and important deadlines are always met.
We offer the following services
- Company formations
- Maintenance of statutory records
- Filing of statutory returns and accounts
- Preparation of structured corporate documentation
- Shareholders agreements
- Mergers, demergers, reorganisations and reconstructions documentation
- Safe custody facility
- Preparing and filing accounts and annual returns
- Preparing documentation for annual general meetings
- If required, acting as company secretary of your company
- If required, providing your company with a registered office addres
XBRL
eXtensible Business Reporting Language (XBRL) is an open, global information standard that defines and provides names- or "tags"- for numbers, narrative text, dates and other facts in a business report. It is often described as "bar coding" for financial and business information.Key benefits that XBRL will bring to businesses include:
- ability of different regulatory bodies to use the same electronic data set - avoiding duplication & reducing compliance costs
- automatic exchange and reliable extraction of financial information across all software formats & technologies
- improvement in the efficiency with which various tools can generate comparisons & analysis
Our solution
Our solution is structured to address the following:
- Compliance with the Ministry of Corporate Affairs mandate
- Flexibility to address the evolving financial reporting framework in India
- Scalability from outsourced services to in-house processing
We offer you a comprehensive solution around your XBRL needs, which may be broadly segmented into two broad categories:
- Managed services solution - outsource the entire XBRL function and obtain an end to end solution
- Embedded solution - a XBRL solution that integrates with a company's ERP, using third party technology solution and implementation support
Compliances
The gamut of Indian regulatory compliance is extremely large and given their applicability to business, it becomes extremely time-consuming and is increasingly complex as each month there are some or the other filing requirements and their deadlines and any failure can lead to severe penalties, disallowances resulting in higher taxations andsometimes even prosecution of Directors. Thus we can help you with your compliances as applicable to the business and we can also represent you in any communication with the relevant authorities.Our compliance services would normally involve:
Direct tax compliance (income tax, withholding tax and transfer pricing)
We offer complete services to deal with ongoing and annual Income tax matters including:
- Preparation of the tax provision for the financial statements
- Income tax computations and returns.
- With-holding tax payments, computations and returns
- Dealing with correspondence from tax authorities.
- Advising on amounts and timing of payments
Indirect tax compliance (excise, customs, sales, service and VAT)
We provide an efficient cost effective service, which includes:- Assistance with registrations of these various taxes
- Control and reconciliation of each type of duty/tax levied
- Monthly/quarterly/annually tax payments
- Preparation and filing of computation and return on various timelines/due dates
- Dealing with correspondence from tax authorities and negotiating in disputes
Regulatory compliance under various applicable legislations such as but not limiting to:
- FEMA (Foreign Exchange Management Act)
- Reserve Bank of India – FDI guidelines
- SEBI - Securities and Exchange Board of India (SEBI)