Processes like recording financial transactions such as expense and income, maintaining the accounts receivable and accounts pay- able records, generating various reports such as profit and loss account, balance sheet and cash flow report come under the umbrella of bookkeeping.
Bookkeeping is a tedious process that requires special expertise and hence many companies employee resources to handle their book- keeping processes.
maintaining proper account bookkeeping. Hiring a consultant to look after your
bookkeeping needs will ensure that you can concentrate on other core business functions while the book- keeping consultant handles your accounting department processes.
For international clients outsourcing bookkeeping services in India to expert consultants like YRC provides your business with a proficient partner who is well versed with statutory tax regulations and compliance.
Maintaining improper account books can invite the ire of the taxman. Even a small mistake can count as a fraud in the eyes of the law. Hence, proper care has to be taken while preparing the books of account. Handing over your accounting services to a specialist like YRC will provide you, experts, handling your accounting needs.
YRC has had the pleasure of working with companies from various industry sectors. This varied experience has enriched our knowledge bank and has helped us in understanding the nitty- gritty of every business. We understand that managing the books of account of a manufacturing business is different from managing the account books of service sector business. Hence, we tailor our approach according to the requirements of the business.
We do continuous reconciliation with your bank in order to be sure that no discrepancy creeps in your books of accounts.
While maintaining your books, we handle the following functions:
- Invoicing for goods or services provided to the client
- Recording and verifying the invoices provided by the vendors
- Releasing the payment to the vendors
- Keeping a record of payment received from customers
- Preparing various government tax reports and preparing the necessary documentation for filing business tax returns.
- Preparing reports like profit and loss account, balance sheet and cash flow report
- Managing the payroll of employees
- Continuously reconciling the account books with your bank
- Preparing quarterly and annual financial reports for internal review.
Please note that we do not go ahead with any of the reports mentioned above without your approval. This is to make sure that you are constantly aware of the financial status of your business.
Apart from providing bookkeeping services we also provide specialized financial services like CFO service.
Under the Ambit of CFO services, we provide the following services:
- Providing strategic financial direction to the company.
- Improving financial regulatory compliance.
- Preparing the financial budget of the company.
- Helping the company to go public/list on exchange.
- Restructuring the ongoing loans of the company.
- Handling the working capital management of the company.
- Preparing a long-term financial plan for the company and making sure that the company adheres to this plan.