Accounting Methodology for Australia, Explains how Rayvat Accounting does in Virtual Bookkeeping. Outsourcing Accounting to Rayvat Accounting. Explanation of work flow at Rayvat Accounting.

1. OUTSOURCE Your Accounting WorkOUTSOURCE Your Accounting Work

2. “Outsourcing is the act of transferring some of a
company’s recurring internal activities and decision
rights to outside providers, as set forth in a
contract.”
- Maurice F. Greaver II
Strategic Outsourcing
BUSINESS PROCESS OUTSOURCING

3.  A team of multifaceted professionals includes
 Chartered Accountants (CPA)
 Accounting Executives
 Based in Gandhinagar – India
 Aimed at providing
 Timely
 Practical and
 Extremely affordable outsourcing services
WE ARE

4. Providing Total Outsourcing solutions in the field
of Accounting and Financial Processes
 Accounting Services
 Bookkeeping Services
 Accounts Payable
 Accounts Receivable
 Bank Reconciliation
 Fixed Asset Management
 Payroll Services
 General Ledger Maintenance
 Tax Return Preparation

5. 12%
35%
91%
29%
85%
0% 20% 40% 60% 80% 100%
De-risk the business
Achieve high productivity
Improved Operational Quality
Reduced Costs
Focus on Core Activity
% Respondents
Source Gartner
Top 5 Outsourcing Objectives

6. Source: Mckinsey & Co.
A Mckinsey study shows that when processes are outsourced
to India, companies not only get the advantage of low cost but
also experience improvement in productivity and Quality.
India Advantage

7. Source: McKinsey-Nasscom
CostCost
 40-60% cost reduction for off shored process
 Labour cost arbitrage, the reason for cost savings, likely
to exist for next 20-30 years
 Faster turnaround
time
 Time zone
difference
 24 x 7 service
 Learning curve
effect
 Established methodologies and processes for better
performance
 Well defined quantifiable quality and process matrix
 Access to highly qualified skill pool
India’s Value Proposition

8. Benefits of Outsourcing to India
 English speaking and IT savvy workforce
 Cost reduction up to 50%
 Improving telecom infrastructure
 Lower infrastructure costs and high speed data
connectivity
 Favorable time lag: 12 hours with US & 5 hours with
Europe
 Overnight turnarounds possible
 Resources with experience of financial, legal and
Computer systems similar to the west
 Strong domestic IT services industry to support IT led BPO

9. Accounts Outsourcing process

10.  Backup file of QB. (At first time entering the data or
at the time when data has been updated from
client’s end.)
 Necessary Business Information
 Scanned Copies or Soft Copies of Expense Bills for
AP
 Scanned Copies or Soft Copies of Sale Bills for AR
 Scanned Copies or Soft Copies of Bank Statement
 Counterfoil of Checks
What we require?

11.  Updated QB File
 Balance Sheet
 Profit and Loss Account
 Accounts Receivable
 Accounts Payable
 Bank Reconciliation Statement
 Cash Flow Statement
 Other Reports as required by Client
What we Provide ?

12.  Security measures are taken to make sure that the
information is protected.
 Signing Non-Disclosure Agreement with the
Clients and with the Employees.
 Ensuring competing companies are not allocated
to the same processor
 Physical access controls, Controlled security
access to the IT Applications/Security Matrix,
exclusive -Logins/Password expiry policies.
What about Security ?

13. DATASTORAGE
ACCOUNT
FOLDER
LIST OF CLIENTS
CLIENT
TO BE
PROCESSED
ERRORS &
REVIEWS
COMPLETED
ERROR LOG
NOTE:
•Client Information will be provided in
CLIENTS’ folder.
•Only concerned Folder and Files are
accessible
Data Storage Method

14. Your Work
Scanned Documents
(As per next Slide)
Necessary Business
Information
Conversion to Spreadsheet (As per next Slide)
(After thorough verification)
Entered in QuickBooks (As per next Slide)
(By qualified Accountants)
Final Checking (By Supervising CA)
Your Completed Work
Work Flow

15. Bank Of America
Date Particulars Check No. Deposit Withdrawl Balance Remarks
06/01/02 Opening Balance 292.12
06/03/02 Check 3614 300.00 (7.88)
06/03/02 Deposit 2550.00 2542.12
06/04/02 Check 3606 500.00 2042.12
06/04/02 Check 3610 16.21 2025.91
06/05/02 Check 3609 108.49 1917.42
06/05/02 Check 3612 87.00 1830.42
06/05/02 Check 3615 55.00 1775.42
06/05/02 Check 3616 300.00 1475.42
06/06/02 Check 3617 451.47 1023.95
06/06/02 ATM Withdrawl 100.00 923.95
06/07/02 Check 3575 300.00 623.95
06/07/02 Check 3577 100.00 523.95
06/07/02 Check 3621 62.95 461.00
06/07/02 Sprintpcs Custcare 100.00 361.00
06/10/02 Check 3618 125.00 236.00
06/10/02 Check 3619 300.00 (64.00)
06/10/02 Check 3624 69.43 (133.43)
06/10/02 Check 3625 6.04 (139.47)
06/10/02 Check 3626 7.68 (147.15)
06/10/02 Shell No. 574225467 15.27 (162.42)
06/11/02 Check 3622 44.26 (206.68)
Spreadsheet

16. QuickBooks Pro

17. Sample Bank Statement
Sample Bills

18. Sample Bills
Sample Bank Statement

19. Rayvat Accounting is a professionally managed Finance
and Accounts Outsourcing Company based in India.
We provide Finance and Accounts Outsourcing Services for
organizations in various sectors.
Rayvat Accounting has full fledged infrastructure having
office space of 34000 square feet
The infrastructure has a capacity of accommodating 1200
people in a single shift.
Who We Are

20. Team leader at Rayvat Accounting.
Rushabh Shah:
- He is a chartered Accountant with 7 years of
experience.
- Had worked with Deloitte Haskins & Sells in
Audit Department in Mumbai, India.
- Had worked with Torrent Power Limited –a
prestigious power company of India
Expertise:
- Rich Knowledge of Accounting and Auditing.
- Worked in Audit of Companies like Grasim
Industries Limited, Nestle (India) Limited
and many other small scale companies.
- Expertise in working on Intuit Quick books.

21. COMMUNICATION ADDRESS:
Plot No : 10, G.I.D.C Electronic Park
IT/ITES SEZ Kolwada Road, Gandhinagar- 382026,
Gujarat, India.
CONTACTS:
Rushabh Shah
India +91 9712381843
USA +1-(516) 515-1675
WEBSITE:
www.rayvataccounting.com
Email:
rushabh@rayvat.com
Rayvat Accounting.