• Month end closure of books along with publishing monthly management accounts, with Profit and Loss account and Balance Sheet.
• Customised reports as per the management requirement.

• Information collection
• Business review
• Access to software
• Review of accounts
• List down queries
• Incorporating query resolution
• Recording Yearend adjustment Entries
• Financial Statements Preparation
• Review of Final account pack
• Incorporating changes as per client feedback
• Approval of accounts by the client
• Submission of accounts to authority through govt. gateway.

The accounts payable (AP) process is a crucial part of any business, ensuring timely and accurate payments to suppliers and vendors for goods and services received.

• Setting up vendors in accounting system with proper documentation.
• Reviewing the Invoice :

  The AP team carefully reviews the invoice for accuracy, ensuring details like:

  • Vendor information matches purchase order records.
  • Description of goods or services aligns with the purchase order.
  • Prices and quantities are correct.
  • Calculations are accurate.
• Approving the Invoice:

  Once the invoice is verified, it may need approval from designated individuals within the company, depending on spending limits or specific requirements.

• Recording purchase invoices in software post authorisation
• Payment Processing:

  Upon approval, the AP team initiates the payment process according to the agreed-upon payment terms with the vendor, considering factors like:

  • Early payment discounts.
  • Due dates.
  • Preferred payment methods (check, electronic transfer, etc.).
  • Setting up payment in Bank for approval as per schedule or instruction from Finance dept.
  • Allocation of payments against outstanding supplier invoices
  • Recording Credit Card and Debit Card transactions
• Vendor coordination and query resolution
• Vendor Reconciliations
• Running weekly/Bi-weekly accounts payable reports

• Order & Credit Approval:
  • Capturing the customer order.
  • Assess customer creditworthiness and setting credit limits (if applicable).
• Invoice Generation:
  • Creating an invoice for the goods or services sold.
  • Sending the invoice to the customer via their preferred method.
• Payment Receipt:
  • Customer receives the invoice and makes a payment by the due date using the agreed-upon method.
• Payment Processing:
  • Recording the payment in the accounting system.
  • Update the customer's account balance to reflect the payment.
  • (Optional) Send a payment confirmation to the customer.
• Monitor Outstanding Invoices:
  • Track invoices that are overdue.
  • Send payment reminders to customers for late payments.
• Collections Management (For Overdue Invoices):
  • Implement late fees (if applicable).
  • Contact customers to collect overdue payments.
  • Consider escalating to collections agencies for persistent delinquencies.
• Bad Debt (Optional):
  • Write off a customer's outstanding balance as bad debt if they fail to pay after a prolonged period.
  • Update accounting records accordingly.

• Requisition management - A formal request made for the goods or services
• Purchase Order issued - Once the purchase requisition has been approved by the relevant management, a purchase order is issued to the supplier.
• Goods receipt - The supplier delivers the requested goods or services and the relevant goods or services receipt is created.
• Invoice received - The suppliera€?s invoice is submitted and entered into the processing system.
  • Scanned images/ invoice snaps uploaded on cloud storage
  • Automatic data processing through OCR software eliminating manual data entry.
  • Guarantee of quality as data is processed through software based on AI and Machine learning mechanism.
• Invoice processing - The invoice is either matched against the PO and the receiving documents or any exceptions are flagged for investigation. Invoices that do not have an associated PO are routed for review and approval.
  • Processed data is verified & validated by the experienced accountants to make sure correct accounting principles are applied

• Receiving Order from customer
• Credit Management- Review of the customera€?s credit portfolio as per organisational credit policy.
• Order Fulfilment
• Order Shipping - Proof of Delivery and Bill of lading obtained for each order fulfilled.
• Customer billing or Invoicing - Post delivery of goods or services

• Accounting software transition including set-up of lists (customer, vendor, employee, inventory etc.), chart of accounts and transactions
• Implementation of Budgeting and monitoring for variances
• Cost control and reduction analysis

• Quickbooks
• Sage 50
• Xero
• IRIS
• Digita
• SAP
• Caseware
• Digita
• Taxcalc
• Dext
• Hubdoc
• Data Molino
• AutoEntry