Home About Us Services Quality & Data Security Why Outsource Contact Us
:: Finance & Accounting Services
Overview

Finance and Accounting is one of the fastest growing BPO segment after Customer Care and HR outsourcing.

According to IDC (IT Research company), the worldwide finance and accounting (FA) outsourcing market will reach $47.6 billion in 2008, growing at a 5-year CAGR of 9.6%.

Whether it’s entering data or running complex financial reports, Competent external service providers can do it, also in accordance with Generally Accepted Accounting Principles (GAAP) true for USA and UK.

American certified public accounting firms are turning to Indian firms to cut the cost of preparing tax returns.
Services Highlights

In the finance and accounting outsource space, companies are either outsourcing entire finance and accounting functions or sourcing single functions like :

  • Accounts payable
  • Accounts receivable
  • Payroll and Benefits Administration
  • General accounting
  • Billings
  • Banking & other reconciliation
  • Travel and Entertainment reports processing
  • Tax Consulting
  • Statutory reporting
  • Financial Statement analysis
  • Fixed Asset and capital Accounting

Payroll and Benefits Administration can typically cover areas like:

  • Salary preparation and generating in Bank Specific Format
  • Master Pension Management
  • Accounting of Overtime, Bonus, Incentives, Loans, deductions
  • Accounting of Holiday pay, statutory sick pay & maternity pay
  • PAYE and NI transactions(U.K.)
  • Reporting and transactions for several forms like P14 / P60 / P35 / P45 and P11D(U.K.)
Process and Softwares
We can provide offshore solution for accounts payables process by remotely accessing the applications and servers in the US. The scanned vendor invoices are uploaded into an automated workflow manager in the US. The Offshore operators log into the US based server through Terminal Server access. The data entry involves populating, verifying, distribution of amount to different accounts & exception escalation on workflow system. The quality auditor double key verifies and checks before posting the entries for verification. The supervisor checks the escalated data and confirms the entries, which flows to the Controller or Approver for updating in the ERP system. The workflow is integrated with the backend ERP that contains the Vendor master.
Various Softwares that are used:
  • SAGE
  • TAS1, TAS2
  • MYOB
  • Quick Books
  • IRIS
  • Pegasus-Opera
Tax Preparations Outsourcing
Our tax preparations outsourcing service provides CPAs and Tax service providers with a new way of handling their tax compliance workload and meeting filing deadlines.

Our cost-effective solution uses the popular tax software like Drakes Lacerte, Turbo Tax, Ultra Tax or any tax software of client’s choice. We then use web-browser or FTP technology, to move source document information from clients to our tax processing facilities.
This way, we handle the back end processing functions of a tax department while you focus on improving your client relationship.We offer tax preparation services for the following:
  • Form 1040 - For individuals
  • Form 1065 - For Partnerships
  • Form 1120 - For companies and Corporations.
:: Outsourcing Process
  1. Client sends us scanned documents. We may ask for the relevant and required data either in the form of .pdf files, .mdi or a fax message.Then the data is entered into our tax software or the tax software of your choice.

  2. After data entry, the tax return is audited and properly verified.

  3. We then send the returns which client can see in the web-browser or through the FTP and review. You'll receive complete returns, including any questions or comments from our side.
    If any corrections found necessary, then upon receiving the correct information, we can update the tax file and send you a final copy for filing.