Accounting & Closing

Accounting & Closing Services Include:

1. Accounting Consultation & Setup

• Advisory on setting up an efficient accounting system based on your business model

• Selection and implementation of suitable accounting software (QuickBooks Online, Xero, Zoho, SAP)

• Designing chart of accounts and financial reporting structure

2. Bank & Credit Card Reconciliations

• Monthly reconciliation of bank accounts to ensure accuracy of transactions

• Credit card statement reconciliation and expense verification

• Identification and resolution of discrepancies or unmatched entries

3. Accounts Payable (AP) Management

• Recording and verification of vendor bills and expenses

• Managing payment schedules to avoid late fees

• Vendor reconciliation and outstanding liability tracking

4. Accounts Receivable (AR) Management

• Invoice recording and customer account management

• Tracking outstanding receivables and follow-ups

• Reconciliation of customer balances

5. Monthly & Periodic Closing

• Month-end and year-end closing procedures

• Reviewing journal entries, accruals, and adjustments

• Ensuring books are updated and audit-ready

6. Financial Reporting

• Preparation of monthly Profit & Loss statements

• Balance Sheet and Cash Flow reporting

• Customized management reports for better decision-making

7. General Ledger Management

• Maintenance and review of general ledger accounts

• Posting journal entries and adjustments

• Ensuring accuracy and compliance with accounting standards

8. Multi-Location Accounting Support

• Managing accounting for businesses operating across multiple branches

• Consolidation of financial statements

• Proper reporting of inter-branch transactions

9. Compliance & Internal Controls

• Ensuring compliance with accounting standards and regulations

• Strengthening internal controls to prevent errors and fraud

• Maintaining proper documentation and financial records

10. Error Rectification & Financial Clean-up

• Identifying and correcting past accounting errors

• Clean-up of backlog accounting

• Reconciliation of historical financial data