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Accounts Outsourcing To India
 

Accounts Outsourcing To India

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Labdhie associates, the most trusted accounts outsourcing company for all your accounting needs.

Labdhie associates, the most trusted accounts outsourcing company for all your accounting needs.

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    Accounts Outsourcing To India Accounts Outsourcing To India Document Transcript

    • Labdhie AssociatesOur Commitment. Your Trust.
    • About Labdhie AssociatesLabdhie Associates is a Financial Outsourcing firm. Our team consists of Business ProcessManagement and Finance & Accounting experts across the entire range of necessary skills.Our team will use its understanding of your business and the industry to provide an approachthat builds upon your strength.Quality of our work is based on deep understanding of various business processes. We havethe technical expertise to diagnose your problems and offer established, realistic solutions.Our experts provide our clients with several cost reduction ideas and risk managementmeasures.Our goal is to understand your needs and to go beyond your expectations. It’s our firm beliefand commitment that in Labdhie you will find a partner who can help you achieve your goalsacross a broad spectrum of activities – operations, compliance and management reporting.All we could say with open arms is Welcome aboard!
    • Service Offerings Bookkeeping Services Sales & Receipt and Financial Purchase Payment statements accounting accounting and analysis Depreciation / Bank Management Amortisations account reporting calculations reconciliation Fixed Assets General Supplier/ Cash Flow & Register expense Inventory customer Fund Flow accounting Records code Statements creation• Processing of customer invoices, receipts , • Preparation of monthly and yearly sales orders and accounts receivable financials-income statement, cash-flow processing statement and balance sheet• Entry of purchases/expenses and • Entering Account Opening Balances accounts payable processing • Setting Up a Service Item• Check and customer payments processing • Creating a Service Invoice• Bank, credit card, checking and merchant • Making Deposits account reconciliation • Writing Check• General ledger maintenance • Posting Debit Memos• Generation of financial statements • Creating Purchase Orders• Aging and collection reports • Entering Products into Inventory• Monthly / Yearly closing of books • Receiving Inventory• Entry of transactions • Paying for Inventory• Setting up/ updating chart of accounts and • Financial analysis like ratio analysis, maintaining ledger accounts break-even analysis, NPV and IRR
    • Service Offerings Other Major Services Business Outsourced Plans Internal Audit HR Manual Periodic MIS SOP Tax Payroll Returns Processing• Preparing Business plans with marketing • Internal Audit Outsourcing - Testing the and financial projections operating effectiveness of controls• Preparing Standard operating procedures • Management Information System (MIS) (SOP) with adequate controls in place activities• Preparing Employee Hand book / HR • Preparation of forms / returns Manual incorporating organization policies • Payroll tax returns• Creating and maintaining employee • Quarterly and annual tax reports profiles on the Payroll system • Employee insurance deductions• Managing time and attendance • Compliance reporting• Payroll reports such as Headcount, Month • Individual Tax Returns on Month Variation Analysis etc., • Corporation Tax returns• Processing of Weekly/Bimonthly/Monthly • Partnership Tax returns Payroll from time sheet • Estate and trust tax returns• Calculation of Net Pay checks • Maintenance of VAT control account and• Payroll Journal and Payroll Summary preparation of VAT returns
    • Application UsageOur team have expertise in using the following applications: Applications Expertise Level QuickBooks High Tally High Sage Medium Oracle High SAP High MYOB Accounting Plus Medium Peachtree Medium Peoplesoft Medium Xero Medium to High
    • InfrastructureInfrastructure - Key Highlights: Spacious 850 Square Feet office set-up with modern facilities. Seater capacity: 15 seats (extendible at short notice) Uninterrupted power supply (with online battery back-up) Two tier IT support for quick resolution of IT problems Computers with latest technology configuration Multiple network connections to ensure continuous online connectivity Document management and work-flow systems used extensively to manage processes
    • Data SecurityData Security Practices: Physical and Work floor Security  Screening of visitors/employees by a security guard during entry and exit for data storage media like cds  USB drives and cds are banned from work-floor  Employees sign a Non Disclosure Agreement (NDA) with punitive clauses  Mandatory background checks performed for all employees Data Security: All data is backed up regularly Network Security: Use of secured line with firewall protection PC Security  Access to source documents is restricted to authorized employees only  No fax and printing capabilities at the processing site  PCs used by processors do not have USB, CD ROM drives and are denied web access  Limited usage of paper in the work-floor
    • Our Approach Stages Salient FeaturesStage I: Planning Comprehensive, detailed project planning is critical to provide an effective, high-quality services. This stage enables the team to : • Gain an understanding of the project to be performed • Agree on approach, scope and schedule • Agree on the engagement protocols (Coordinators, reporting lines, etc)Stage II: Obtaining Input Input data can be transmitted through e-mail or Dropbox orData FTP server. Paper reports / CD may be couriered to us. Interdependencies between our team and key stakeholders is identified and managed.Stage III: Execution & The recording and analysis of transactions / financial data isDelivery performed on a daily basis. The output is delivered by any of the following modes: - We update and upload books to a secure Dropbox folder / FTP Server - We login & update the books on the online bookkeeping software - We access your system using a secure VPN & update the books - Emailing reports A detailed internal reviews by team manager is regularly performed in order to to ensure consistency and quality.Stage IV: Feedback • This stage would also involve debrief call with the key stakeholders to assess the service delivery and identify areas of improvement. • As a part of our quality procedures we normally seek a formal feedback on our performance, from Clients.
    • Our Approach Data Input Data Transfer Source documents1 Web based Input data (Images) scanned and uploaded Interface/FTP located at client by client staff server/our server Quality Control Web based Dedicated quality resource Interface/FTP checks processed work Data Output Data Processing Team in India - Updated client accounts - Downloads and checks data - Reporting statements - Enters data in accounting package residing at client server/our serverNote1. Source documents include invoice, bills, purchase orders, and bank statements among others
    • Expected Benefits • A dedicated, motivated and very senior team that will deliver. Our team Team includes specialists who have worked with Big four accounting firms. They understand your concerns. • Our simple, flexible and practical approach will meet your needs. • Quality manuals with standardized procedures followed for each accounting Approach process Pricing • Our very aggressive pricing, expressing our desire to work with you Data Security • Highest priority for management of Information Resources & safeguarding of client data. • Critical input/outputs are continuously monitored against predefined Key Performance Indicators (KPI) Committed to • Passionate about working with you with a promise to deliver the highest Service quality of service.
    • Cost Saving Summary Indicative figures 100 Cost of In-house personnel1 40% to 50% cost benefit in short term ~30 to~40 +2 to +3 ~50 to ~60 Savings from ~ 5 to ~10 labor costs Governance Cost of Savings from costs3 outsourced ~5 to ~15 ~35 to ~55 lower process once associated2 Savings due to Cost of Off-shored costs Process outsourced improvements processes once matureNote1. Includes salary, benefits and ancillary costs of personnel currently executing the processes2. Associated costs include non-compensation costs related to personnel, such as, occupancy, training, computing, attrition and hiring costs, and HR support3. Includes cost of in-house personnel’s participation in administering the outsourcing relationship
    • Thank You