FinAcc Hub believes in providing timely and accurate services to our clients. We record financial transactions of a business in an Accounting system and create Reports. We offer flexible accounting services where people can outsource either entire accounting functions or segments of it to us. We cater to businesses located in India. Our online service will lower the overhead cost and our team of professional experts will enhance the quality of your organisations’ Accounting. We use tracking and recording information in Advanced Accounting Software accustomed to clients’ specific needs.
- Accounts Payable Management (Vendor Bills and Payments)
Accounts payable is the amount that the entity has to pay to its suppliers or vendors on the account of goods and services received.
- Invoices can be easily tracked and paid before the due date
- It helps in maintaining the proper cash flows such as making payments only when due, avoiding the non-payment or payment for the same bill multiple times and refraining from any kind of fraud and theft in the business entity
Get an analytics support system within the accounts payable management system which can provide real-time insights for informed decision-making
- Accounts Receivable Management (Customer Invoices and Collections)
Accounts receivable management is the process of keeping track of Invoices issued and ensuring that payments are received on time.
- It helps to prevent overdue payment or non-payment, therefore it is a quick and effective way to strengthen the company’s financial or liquidity position
A good receivable management contributes to the profitability by reducing the risk of any bad debts.
- Bank Reconciliation
Bank Reconciliation Statement is a record book of the transactions of a bank account. The balance mentioned in the bank statement must tally with the balance mentioned in the books of accounts. This statement helps the account holders to check and keep track of their funds and update the transaction record that they have made. We also reconcile revenue and expenditure with bank statement.
- Electronic Document Management
An electronic document management system (EDMS) is a software system for organizing and storing documents in multiple formats. Many of these systems also include features for efficient document retrieval. An electronic document management system (EDMS) is a framework of tools for managing the creation, use, and storage of documents in multiple formats that are created throughout an organization. This will be beneficial for GST and Income Tax compliances also.
Electronic document management systems contain tools for:
- Creating digital files and converting paper documents into digital assets.
- Easily sharing digital documents with the right knowledge workers.
- Centrally organizing documents in standardized file structures and formats.
- Storing and accessing information for more efficient use.
- Securing documents according to standardized compliance rules
- Inventory Management
Inventory management refers to the process of ordering, storing, and using a organisation’s inventory. These include the management of raw materials, components, and finished products as well as warehousing and processing such items.
It will help in balancing the risks of inventory gluts and shortage.
- Recording and Reconciling Payroll Transactions
Usually, you record the following kinds of payroll transactions in the ledger:
- Salary and wage expenses
- Employer liabilities
- Employee liabilities (withholdings and deductions)
The entries in your ledger should match information on the payroll register. When you do payroll reconciliation, you verify that both records are the same.
- Cash & Petty Cash Expense Management
Cash and Petty Cash Expense Management is a system designed for recordkeeping to track the use of funds, summarizing all disbursements made and getting sufficient supporting documents for it. It’s an important internal control for fraud prevention.
- Monthly Review Meeting of Accounting Data
We provide Monthly Review Meeting Report which contains summary of business transaction. It includes sales, purchase, outstanding debtors and creditors, GST and TDS details. This Report will give you overall analysis of monthly progress.
- Requirement Based Reports
As we are team of qualified professionals, requirement based Reports and Certificates will be provided as when as required.
- Preparation of Quarterly and Annually Financial Statements
A quarterly report is a summary or collection of unaudited financial statements. In addition to reporting quarterly figures, these statements may also provide year-to-date and comparative (e.g., last year’s quarter to this year’s quarter) results.