Accounts Outsourcing Gives Your Business An Edge Over Others

In Enhancing Productivity (dec14- 2016)

To remain competitive in an increasingly competitive world, businesses must boost operational efficiency
wherever possible. Sooner or later, any company not operating efficiently will be out of business. Entrepreneurs
are talented and this let them think that they can do it all. This mindset can really stall the growth of the business.
By outsourcing day to day tasks, entrepreneurs gets more time to focus on generating revenue.
 

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Whether you are a small business owner, solo entrepreneur, or just a hard working person trying to get more
done in less time, you can maximize your productivity by Account Outsourcing.  
If your firm’s productivity is less than expected, there are more ways than ever to improve….Including cloud
computing, reducing paperwork by automating tasks, and remote working. However; amongst many Account
Outsourcing is one of the most outsourced function today.
As entrepreneurs become more and more successful, they begin to spend more time on sales and operations,
leaving behind some of the other hats they used to wear, allowing them to gather dust.  The accounting hat,
unfortunately, commonly becomes one of these dusty hats. Accounting is tedious, and requires detailed
information as well as a fair level of training and research.
For all of the entrepreneurs out there who see their accounting hat gathering dust…

Read out what happens when you to Outsource Accounting:

 1.Delegating tasks to other

One of the most important lessons that people need to learn when running a company, is learning how to delegate. It sounds counterintuitive, but
it’s true – as you attain more responsibility in your career, you need to learn to get better at surrendering control.
You can’t do everything yourself, and you can’t micromanage every single step of every single work process. What are you doing in your daily life
that could be delegated to someone else?
Delegating doesn’t have to mean “hiring help.” It can also be a simple matter of asking other people to do tasks that they can do more efficiently
than you.

2.Value your time by hiring outsourcing company like TCF

There’s an old saying in business, “You have to spend money to make money.” In the same way, in your personal productivity, you sometimes
need to spend money to save time; as long as the time you gain is more valuable than the money you spent). Think about the value of your time.
To free up more of your time, it might be worth hiring Account Outsourcing company like TCF to ensure that your books are streamlined. Think
about the value of your time. Isn’t it worth paying someone than just mendling with the headache of accounting wasting your valuable time over it.
Many people undervalue their time, and end up wasting time on unproductive tasks that they don’t even enjoy doing.

3.Lowers the costs is where it all begins

Many of the individuals or companies that provide outsourcing services are able to do the work for considerably less money, as they don’t have to
provide benefits to their workers, and have fewer overhead expenses to worry about. Outsourcing accounts to a company like TCF will let
you focus on other business issues while having the details taken care of by outside experts.

4.Peace of mind
TCF clients frequently provide feedback, and says that they experience peace of mind when it comes to their accounting. They can focus on
running their business because they know they don’t have to worry about their books. In most cases, we are handling their bookkeeping, payroll,
as well as their financial reporting.
Receiving a financial report at the end of a month, without having to put more than several minutes into it, is relief for our clients.  Having someone
to review these reports with you, and discuss how it applies to your business, is even more satisfying.
Outsourcing your businesses accounting can free up a lot of time, and reduce some of that unneeded stress your business places on your
shoulders.

5.Outsourcing Accounting Services is Affordable

It make sense to outsource accounting services as not only it comes with a peace of mind, but it is cost effective as well. Initially, there were less of
outsourcing services, however with the changing of time, it has evolved into providing several benefits to the business. Accounts Outsourcing
services offered by TCF comes equipped with several benefits and that too at affordable cost.

Why Do Businesses Prefer Outsourcing Their Accounting to TCF?

Some reasons include:

 Lack of bookkeeping processes & procedures

 Inaccurate or late financial reporting
 Inability to forecast or budget
 Poor or non-existent accounting technology integrations
 Personnel churn, lack of internal expertise and even errors

How TCF Will Be Helpful In Enhancing Your Business Productivity?

Accounting/Bookkeeping is their forte.

 Save upto 50% of your accounting costs

 Grow your business
 No staffing worries
 Bookkeeping and tax returns at one place
 No more training new accountants

TCF is the largest and most experienced outsourced bookkeeping and controller services company in the country.
For over 23 years, TCF along with its affiliates has acted as a powerful business ally for various individual and corporate clients. TCF’s service is
focused on reduction in expenses, improvement in financial performance and securing every possible tax advantage.

How you boost productivity…

 You get dedicated full timer accounting expert

 Expertise in accounting and tax preparation software
 Quick turnaround time
 Secure and complete transparency
The teams employed by TCF take care of every problem at a granular level for the client. Their involvement goes much deeper than issues
realized during the course of their engagement transactions. Their reputation for seamless services and have earned a solid trust of their clients.
TCF Consulting Services (I) Pvt. Ltd. regularly assists its clients on issues regarding business setup, finance & accounting, taxation and
compliance. They strive to provide effective and efficient services for every client, whether the client is a small business or a multinational
corporation. Many of our clients started with us as businesses in emerging industries and stayed with us as they grew into market leaders.

Outsource Your Accounting & Bookkeeping To Reduce

Costs & Improve Productivity
 May 05, 2016
2016 is going to be a competitive playing field. Finance & Accounting will without doubt continue to perform its very critical ubiquitous role. By
nature, it is vital to a company’s smooth operations in an environment that is increasingly subject to compliance and regulatory controls.

image source:reckenen.com
 
Every company seeks to manage expenses so that it fuels growth and optimized return on investment. Per se, finances are being pushed harder.
Technological advances have provided relief on several fronts and have enabled us to establish models for achieving desired results.

A Dedicated Outsourced Accounting Department Optimized For Your Small Business: Sapphire
Taxofinance
Growing companies need their management to stay focused on building their businesses. In order to accomplish this you need strong financial
management with a reliable accounting/bookkeeping function. That’s where Sapphire Taxofinance come in.  They provide growing businesses and
non-profits with outsourced accounting services on a fixed-fee basis. Whether you want to add expertise to your current team or completely
outsource your accounting/bookkeeping function, Sapphire Taxofinance is here to help.

Read on to know more on how your business will benefit by outsourcing your
ACCOUNTING requirements to Sapphire Taxofinance:
Sapphire Taxofinance Outsourcing Accounting Service Helps Your Firm Grow Faster and Stronger
Outsourcing accounting and bookkeeping is done for one major reason – to help you maximize your return on your core competencies. It frees up
your valuable time that you can use to grow your firm. Not only you can bring in more clients by focusing on marketing but you do not have to
manage the tiresome cycle of hiring, training, reviewing, managing, firing and so on. Outsourcing accounting and bookkeeping can reduce your
costs by 30-50% or more.
Your Business Doesn’t Lose Projects and New Clients
When you outsource accounting and bookkeeping to Sapphire Taxofinance, you have at your call a full team of expert and experienced
accountants and bookkeepers, so your service delivery capability is not limited to the time you have. Instead, you can get many times more work
done by without having to pay for it round the clock. You don’t have to lose those big projects or new clients just because you are already too busy.
 

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You Cut overhead by Paying only for Actual Work Done
When you outsource accounting and bookkeeping, invariably you will pay only for the work actually done. It means you don’t have to pay for payroll
taxes, overhead, sick leaves, vacation, training, managing etc. Thus, it helps increase your profit margin significantly and at the same time, it also
helps you sell more work in any given time period.
Outsourcing Accounting Helps You Reduce the Risks of Suddenly Losing Staff
If you are like most accounting practice owners, you would have experienced the pain of losing staff suddenly. Small and medium firms cannot
afford to keep “buffer staff” to take care of such eventualities. Longer working hours and stress are common effects of such challenges. But when
you outsource accounting and bookkeeping, you work with an expert and experienced team that is more reliable because of teamwork.
Those team members and managers check and double check and review each other’s work, which ensures that the quality of work is as good as it
can get. What’s more is that you don’t have to worry about suddenly losing a staff as the service provider has much larger teams to absorb any
such staff attrition without affecting your service delivery.
It Improves Productivity and Work Quality
Many accountants get frustrated with the errors, the delays and review needs of their in-house staff, which is money down the drain. But you can
manage an outsourced provider far more stringently to not only ensure that the work quality improves but also to ensure that you always pay only
for reasonable productivity. It will grow your profit.
Your Business Is Able To Give Your Clients Better Quality Service
Outsourcing companies work for many services so their staff gets trained by doing work for multiple firms. When you outsource accounting, you
get the best brains many CPAs have out there working for you. It is like many other successful CPAs training your staff. It all converts into a huge
competitive advantage for you.
You Can Adjust Easily to Your Business Cycles
Accounting and bookkeeping workloads are never even all the time. Outsourcing accounting enables you to easily increase staffing or cut
back quickly depending upon your business cycle. It provides you a flexibility that is difficult to achieve on your own.
 

    Sapphire Taxofinance Accounting Services team provides a practical solution for early-stage companies that need
part-time accounting and finance support, or later-stage companies that need part to full-time assistance. They become the virtual accounting
department scaled to your needs, providing professional accounting staff, controllers, and/or chief financial officers.  It includes:
Core Accounting

 Transaction processing
 Purchase orders
 Bill processing and payment
 Customer invoicing and collection
 Expense report processing and payment
 Monthly close
 Consolidations
 Preparation of financial and MIS with comments or remarks on all major items, exceptions and variances to make it ready for statutory
annual audit.
 Preparation of annual financial books as per Indian GAAP accounting standards or as per the client’s specifications.
 Preparation and maintenance of day to day bookkeeping and monthly or quarterly management accounts, review of supporting
documentations for adhering to company’s accounting policies and standards, compliance with local laws and reasonability of expenses.
 Liaising with banks
 Preparation of Bank Reconciliation Statements.

Sapphire Taxofinance Approach to Outsourced Bookkeeping Services

 Pay for what you need: They customize our services to fit your needs. You can outsource all of your accounting function to us, or we
can provide resources to complement your existing team.
 Affordable fee pricing: This means you’ll be able to accurately budget for your accounting and bookkeeping costs.
 Expertise.  Their expertise goes beyond just bookkeeping. Their staff is managed by CPAs/MBAs with superior tax, controller-ship, CFO,
and transaction expertise.

 Casestudies From Sapphire Taxofinance:

Case Study 1:
In February 2013, we were contacted by a MNC, having it’s manufacturing base [factory] & registered office in another state for the past 10 plus
years. They wanted to shift all their activities from that state to Pune by end of March 2013. We were given the mandate to assemble an
accounting team, consisting of 2 chartered accountants & 3 accountants, by March, 2013 end. They had already booked a trainer to come to Pune
from the USA in the first week of April, 2013 to train the new Team with their ERP.
We ensured that the new Team was ready by end of March 2013. The training happened smoothly. Our new Team managed, very efficiently, a
handover from the outgoing accounting team, over phone, mails & Skype only. The audits were concluded within time & the accounts department
continued functioning very well thereafter.
Our company received all round appreciation for timely delivery of results, our domain expertise & the quality of work which we delivered.

Case Study 2:
There have been numerous cases where the client’s accountants, doing some critical activity, have left their jobs suddenly. Our teams were called
in at very short notices [as short as one day] to fill in the slot(s).
We have ensured that in all such cases, the work was carried on seamlessly. We have been able to rebuild past backup based upon available data
& generally allow the company to function smoothly, inspite of losing critical resources suddenly. Our team has also managed to carry on the work
without any ‘handover’ from the outgoing accountant.
Case Study 3:
In many cases the client’s accountants have been unable to handle the rapidly changing & complex environments in accounting & taxes. In any
cases our trained accountants have been called in to fill the crucial gaps in knowledge with our client teams. Our accountants have played a stellar
role in ensuring seamless workflow in the most complex environments with our clients.

Case Study 4:
Many clients have faced difficulties in recruiting & retaining Finance Controllers & CFOs. We have helped such Companies by deputing our senior
staff in such positions & we have successfully managed the Company’s accounting staff as Consultant CFOs. This has become a very valued
service for many of our clients.

Why Should You Choose Sapphire Taxofinance For Your Accounting Needs?
The most important advantage that your business will render by outsourcing accounting services from Sapphire Taxofinance  is that you can save
wages, payroll taxes, fringe benefits, office space, and other relevant costs related with an in-house employee. You can reduce cost up to 50%.

It’s been a decade, where Fortune 500 Companies have been using accounting outsourcing practice, your business can also tap into to reduce
overheads and focus on other important things that your business demands.

 Brief About Sapphire Taxofinance:

Sapphire Taxofinance Consultants Pvt Ltd,  is located in Pune is focused on providing effective and comprehensive Financial & Accounting
Services to corporate and non-corporate entities. With their in depth knowledge of all regulations and compliances, we offer services like
Assurance, Accounting Advisories, Accounting Outsourcing, Transfer Pricing, Corporate Finance Advisories, Direct Taxes and Indirect Taxes to
their esteemed clients.
Based upon our domain expertise in various sectors over the past many years, their core strength is to provide TURNKEY accounting & tax
solutions. Moreover, our consultancy services include preparation of “Project Finance Report” and Business & Shares valuation for corporate and
business groups.
In addition to our vast clientele base in India, they also render their expert services to companies with their respective headquarters in USA, Italy &
France. Their client companies are from various industrial domains includes but not limited to Manufacturing, Insurance, Banking, Trading,
Insurance, Power Sector and IT & ITeS.

Sapphire Taxofinance has served to the below mentioned industry segments:

                      

Get connected to Sapphire Taxofinance now…

Can't My Accountant Do Bookkeeping For Me? Top 5 Reasons
Why You Need More Than Just In-house Bookkeeper
 November 08, 2016

Can’t my accountant do bookkeeping functions for me???? 

If you need someone to make coffee and fill his or her day with other small tasks, that’s great. But think about this: How easy is it to
find a good bookkeeper that knows the job inside out? Someone whose number one job it is to maintain the books for you so you
don’t have to worry about bookkeeping? Aren’t you tired of the never-ending cycle of problems caused by the entire process of
finding, hiring and training employees who claim to have bookkeeping knowledge but always fall short of providing the full
accounting services your growing business needs?
 

Image source:visually.com
 Businesses today have learned to cut costs not by employee retrenchment or cutting on quality of product but by
outsourcing. Outsourcing bookkeeping functions, for instance, has proved beneficial to trade and businesses because it
provides a cheaper and more efficient way of doing things. Contracting accounting services from outside sources have proven to
be life saving for many companies world-wide.
 
You Should Consider Outsourcing 
Because……………

 Your in-house bookkeepers are not efficient and requires constant up-gradation
 Getting it streamlined is taking most of your time and hiring experts is expensive as of
 You are a smaller business establishing yourself in the market
 It needs more than just basic accounting

Bookkeeping & Accounting was one of the first things businesses began to outsource, which means that it has become a
competitive and efficient way to take care of the nitty-gritty numbers that keep you awake at night. It’s an investment you just have
to make–especially if your goals are long-term, and I’m sure they are.
It’s your money, your dream….Below are top 5 reasons to outsource bookkeeping functions:

1. You are able to spend more time…which means productive time . 

Outsourcing your business’s bookkeeping working frees up important and valuable time that can be put into enhancing the
company. Backend office tasks can be a heavy interruption from the day-to-day running of things and having your bookkeeping in-
house can lead to a conflict of interests.

2. Focused work staff

By eliminating the distractions or interruptions of the office from their jobs, places that take bookkeeping services jobs are able to
provide clients with more watchful work.

3. Access to upgraded technology/ top system

By outsourcing bookkeeping small businesses have access to skilled accountants having a wide range of experience in the
area. This ensures that your books are always up to date additionally these experienced professionals, who have formal training
and practical experience in many areas of accounting, can help you avoid penalties associated with inaccurate paperwork and
underpayments.

4. Reduce overheads costs

Hiring a bookkeeper in-house is expensive. The cost includes not just salary but other overhead costs like payroll taxes, medical
insurance plus the expense of hiring and training a new employee. By outsourcing bookkeeping, you will be able to reduce
employee-hiring costs, avoid delays and minimize staff costs associated with training and benefits.
 image source:smejoinup.com

5. Peace of mind
Outsourcing your bookkeeping allows you the securities of knowing your financial records are up to date at all times and are
available for tax purposes. A trusted company will provide practical, reliable information to help you keep up with changing
regulations, financial requirements, and technology. You can be certain your books are correct.
Outsourced bookkeeping can provide practical solutions for all your bookkeeping needs. It gives you have access to small
business accounting expertise anytime you need it.
 

How Much An Outsourced Accounting Service Can Offer So Much

Value For My Money?
Outsourced bookkeeping service providers are experts. Accounting and bookkeeping is their only business. The service
providers assign duties to it’s team who is best skilled to accomplish the task. They have developed systems and procedures for
their staff, and have trained their staff in these processes and methods. 
 

How Much Outsourced Accounting Services Cost?

Virtual accounting services offered by outsourcing accounting service providers are cost competitive, and you’ll find the value
you’re receiving will be much greater than you would get with an in-house bookkeeper. You will also be able to save hiring and
training costs, and will no longer have to pay for office space, phone lines, or other employee benefits associated with in-house
bookkeeping staff. Best of all, you won’t have to manage the bookkeeper.

Contact us for a risk-free, no fee estimate.

 
Outsourcing your bookkeeping and accounting can help alleviate late, inaccurate or meaningless financial reporting. When you
decide to outsource, you can pick and choose exactly what you need for your business. If you have a bookkeeper in-house, you
usually wouldn’t have to fire them.
Top 5 Added Benefits of Outsourcing Accounts That Every
Entrepreneur Should Know
 November 11, 2016

Accounting is one of the most important yet a complex function for small medium enterprises. Hiring new employees for this may be
the basic solution but not the sure shot solution which will work. Accounting tasks needs expertise knowledge; as it has been
witnessed that employees are not able to sustain the grueling accounting complexities hence; there is lot of attrition. With all these
puts you in more mess, choosing to outsource accounting functions makes a sensible.

Leave it to the PROS…….

First, there is a paradigm that needs to be broken before a good plan can be formulated for this new line of work. When it comes to
effective bookkeeping and accounting systems, there is no such thing as data entry or basic bookkeeping. The old-school concept
of write-up work was based on the idea of pushing down to the lowest level. Before exploring the addition of outsourced
accounting services, firms must educate clients on this concept.
Accounting is the foundation of any business and clients benefit when this work is done by a professional adept in the entire
process from source document to financial statement analysis. The accountant must be entrenched with the transactions to
correctly classify, be current, consistent and compliant. Once your clients understand this concept, they’ll be more likely to see why
outsourcing the entire accounting function makes sense.
 

image source:Maxcon
 
There are significant advantages for clients who decide to outsource starting with cost efficiency. According to a survey conducted
by Northwest Staffing Resources, an employee can cost approximately 57 % more than the stated wage due to the cost of
benefits and the amount of time they are actually focused and on task.

Can It Work For My Business?

Through outsourced accounting, more intimate client relationships naturally develop because there are more client interactions and
the firm is privy to confidential information. Because of the trust created, the relationship may lead to other roles such as tax work
and other accounting advisory services.
Accounting services can be a drain on the firm’s resources without implementation of a well-planned structure. There are four
areas to consider when planning for this service line:  resources, service philosophy, client relationship and fees/engagement
agreement.

Outsource Account Will Be A Wise Decision

We all know the usual benefits of outsourcing accounting can bring to your business, such as:
  Time savings
 Reduced costs
 Convenience
 Less of mistakes/errors
 Most importantly more time for your BUSINESS.

However; there are added benefits to outsource accounting, that very few entrepreneurs know.

Below are Top 5 Added Benefits

 

image source:IBT

1.Strategic Competitive Advantage

Having a highly skilled staff with a wide range of experience is at your fingertips when you outsource properly. You gain access to
experts with a field of experience related directly to the needs of your organization with the right level of understanding for your
specific projects and tasks, not only now, but as your needs evolve. As well as being experienced, an outsourced staff is oriented to
deliverable and deadlines. They work with a service mentality.
There is no need to make hefty investments in technology internally and along with outsourced staff comes access to proven,
reliable accounting systems, configured to your industry and customized to your business. Data is managed securely and at off-site
servers. You don’t need to worry about stable connectivity or additional IT support, plus nightly back-ups and a disaster recovery
plan are often part of the package

2. Control & Stability

When this work is outsourced properly, you no longer need to worry about theft and separation of duties. There is no need to
periodically rotate staff and conduct outside reviews or audits. Cash handling and bookkeeping, manager approved write-offs and
adjustments, purchasing and credit functions are all separated, bringing confidence to your business functions. You’ll have better
accountability and control of company assets.
Ultimately when you outsource accounting functions, you are hiring a company, not a person, which limits risk, avoids the
problem of turnover, and provides back-up for many positions. It also gives you access to senior finance professionals who will
understand performance, budgeting, cash flow tools, and give advice. You’ll enjoy lower stress, be better able to manage risk, and
can enjoy confidence that you will pass audits.
Outsourcing your accounting functions means bringing on a partner that will protect your business interests. An outsourced
partner can clear obstacles that might otherwise divert time and attention away from strategic objectives and growth initiatives.

3. Compliance Benefits
No matter what type of business you have, compliance with business tax laws is a must. Certain benefits of bookkeeping,
depending upon your situation, includes the ability to pay income taxes, payroll taxes, workers’ compensation and sales taxes.
You’ll be less anxious about your bookkeeping records if you have outsourced accounting firm working for you.
4. High Level of Accuracy
Outsourcing accounting services can be quite beneficial when it comes to generating accurate results. This, in turn, ensures
better management of back office functions. Dedicated staff in outsource providers handle accounting and payroll services
smoothly and efficiently.

5. Get Access To Top Systems

Outsourcing your bookkeeping operations gives you more access to the top tools in the industry.  Most businesses can’t afford to
pay for the extremely expensive bookkeeping programs nor can they afford to spend the time keeping up with changing laws and
regulations.  By outsourcing, you’re essentially purchasing those tools and that knowledge by proxy, but it’s even better—you don’t
have to actually do any of the work.  Plus, these top systems create nightly backups and keep organized records and books for
years.
Outsourcing accounting function is another way to solve this dilemma. It lets you acquire the skills of experts without the heavy
costs and time constraints. Nowadays, more companies enjoy the benefits of outsourcing their accounting services.
There are companies that outsource across the accounting functional landscape and end up with sloppy work produced in remote
geographies by unqualified personnel. Outsource your accounting functions intelligently and you will balance risk and reward
while evaluating what work will be outsourced and what will remain in-house.
The scope of services that should be outsourced can vary considerably, but almost any combination will provide significant relief in
time and cost savings while delivering measurable value and process improvement.

4.  Scalability
Outsourcing accounting allows you to expand or cutback in the blink of an eye.  Whether you’re looking to grow your business or
cut down on spending, having a reliable team at your behest, providing you with different plans and options will help you achieve
your goals.  Outsourcing provides flexibility that in-house bookkeepers just can’t provide.

Bottom Line
It is a mantra drilled into the mind and hearts of SME Joinup team members: walk the extra mile. Whether it is implementing a new
accounting software or ensuring a smooth or transition a complex project rapidly, we go out of our way to make it work. And when
our clients tell us the reasons why they are happy with their decision to outsourcing their F&A functions to us, we feel content and
appreciated.

Top 5 Finance And Accounting Services That Startups Should

Outsource To Reduce Overheads
 May 31, 2016
While CFOs of large companies are focused on outsourcing to improve far-flung global operations, smaller companies, who have typically
eschewed outsourcing of F&A, are beginning to embrace it as well. Outsourcers have expanded their offerings to the small- and mid-size company
segments and developed solutions targeted toward specific vertical industries.
Why outsource your finance and accounting?
By choosing finance and accounting outsourcing partner, you can get access to several benefits such as:

 Save upto 50% on bookkeeping expenses

 Boost your bottom line with less staff
 Focus more on your business
 Get access to complete financial management from bookkeeping to tax returns

image courtesy:virtualbeancounters.com

 Hire a dedicated online bookkeeper with complete loyalty

 Round-the-clock access to accounts
 No need to hire/train accountants
 Realtime online bookkeeping
 Complete confidentiality and data security with the latest encryption technologies, remote servers and physical security systems

What about security and confidentiality concerns?

When you outsource bookkeeping services, you will have a complete control of permission levels and access levels of your staff to the online data.
The outsourcing accounting service providers have high level security systems in place with restricted access to authorized staff most servers
are located outside India to address the security concerns.
Why choose SME Joinup’s Finance & Accounting Outsourcing Service Providers?
The following factors recommend us:

 
  What Type Of Finance & Accounting Outsourcing Services You Are Interested
In
SME Joinup support organizations meeting their finance & accounting objectives. Our end to end Finance & Accounting solutions enable clients
to reduce cost, streamline accounting issues, boost productivity so that you can  focus on more important things in your business.

Bookkeeping Services
Bookkeeping involves the process of recording, analyzing and interpreting the financial transactions of a business or individual. The discipline of
bookkeeping accounts for a large proportion of the accounting process.
Bookkeeping services include the following:

 Accounts Payable Management (Vendor Bills and Payments)

 Accounts Receivable Management (Customer Invoices and Collections)
 Bank Reconciliations (Checking and Credit Cards)
 Electronic Document Management
 Inventory Management
 Recording and Reconciling Payroll Transactions
 Revenue Reconciliation with Bank Deposits

SME Joinup’s top Bookkeeping outsourcing service providers for ” Bookkeeping services”, are easy access to qualified, and seasoned
bookkeepers— without you ever having to hire them.
Radisson Consulting

The firm is be next generation firm, recasting the best practices and developing initiative knowledge resting in young minds.
The Firm’s operations focuses on consulting disciplines and compliance services which it deploys to assist its clients in developing and expanding
their businesses. These include:

 Assurance and attestation  Services

 Corporate tax (Direct and indirect) advisory
 Corporate finance and other allied  disciplines
 Real Estate Advisory Services

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Maple Tree Business Consultants

We are an India based Business Consultancy firm set up by a team of well experienced dedicated professionals rendering comprehensive
professional services which mainly include Business Entry Services, Finance and Accounting (F&A), Taxation, Corporate Services and Payroll
Management etc.
Client satisfaction and quality work have been our main focus from the day one and we have designed our services in such a way that an entity
can avail our services on one stop shop basis i.e. right from the start to the growth phase.
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Adventus Business Services

Adventus Business Consultig Bookkeeping Services are focused at helping our customers with the management, accounting and tax preparation
needs thereby reducing their finance and accounts operating costs. We cover the entire scope of bookkeeping right from set-up, support,
maintenance and consultancy through our professional and personalized services; offering quick turnaround time and quality standards.
Founded on Big 4 experience, our team of finance and accounting professionals deliver the full suite of F&A services, from transaction processing
to decision-support analytics and risk management.
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 Accounting Services
In today’s challenging business environment, an increasing number of companies are outsourcing their accounting services requirements to expert
vendors. SME Joinup can help you get connected with accounting outsourcing service providers that deliver superior results and minimize costs,
while allowing you to focus on strengthening your focus business areas.

image courtesy:blossomlandllc.com
Outsourcing accounting service providers from SME Joinup offers a wide range of accounting services to ensure that you have tax-ready
financial statements when you need them the most. By choosing SME Joinup to help you get connected to the top accounting outsourcing service
providers, you avail  accounting solutions professionally delivered with utmost security and confidentiality in the shortest turnaround time.
SME Joinup’s top Accounting outsourcing service providers for ” Accounting services”, provides you with Meaningful, well-organized financial
records ensure that your business operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting
services.
 

Sapphire  Taxofinance

Sapphire Taxofinance Consultants Pvt. Ltd. offers  Accounting Advisory Services.  Their advisory professionals work with clients to provide and
achieve complete financial compliance and to ensure that the accounting operations conform to the business objectives. They implement turnkey
accounting systems and also advice clients to improve existing systems and thereby augment their organization value.
They also provide advice and solutions to maximize their financial potential by improving the efficiency and quality of financial reporting process
chain. They assist clients to deal with new regulatory compliances and accounting standards.
[aw2_module slug=’external-buttons’ name=’Sapphire Taxofinance’ website=’http://www.sapphiretaxofinance.com’ /]
Lets Comply

LetsComply delivers the most comprehensive, resourceful, and cost-effective bookkeeping and accounting services for your business with the
help of a motivated team of seasoned accounting managers and highly skilled accounts professionals.
LetsComply offer cost-effective and hassle-free financial accounting solutions for all fiscal needs of your business. Their accounting services are
as good as employing a full team of seasoned in-house financial accounting experts without actually hiring them. They take time to understand
precise accounting needs of your business, and plan desired procedures to seamlessly take care of all your financial accounting needs.
[aw2_module slug=’external-buttons’ name=’Lets Comply’ website=’http://www.letscomply.com’ /]

Dev Mantra Financial Services

Financial organizations worldwide are facing the impact of higher instability, regulatory & uncertain business pressure on them to make their
bottom-line more sustainable. In addition to this, they also need to work around a platform to improve processes and ensure financial stability.
At Dev Mantra, we share a common goal: to create a world-class finance organization. In today’s economy, that means more than a competent
and effectual finance organization. To achieve high performance in a demanding global marketplace, organizations are looking to their finance
function for insights that will drive business improvement.
[aw2_module slug=’external-buttons’ name=’Dev Mantra Financial Services’ website=’http://www.devmantra.com’ /]

Tax Compliance
Compliance across all taxes, statutory accounting and tax reporting is becoming increasingly complex. Companies are struggling to do more with
less while driving value out of their tax and finance functions.
The centralization of finance and accounting functions presents additional challenges when dealing with complex local rules, disparate
technologies, and manual processes during the compliance cycle. This results in a greater risk of compliance failures and minimal time for strategic
forecasting or planning.
SME Joinup’s tax compliance service providers offers step-by-step implementation for tax planning and Compliance with Tax Laws.
Different types of Tax compliance services offered by outsourced finance and accounting service providers are:

INCOME TAX CONSULTATIONS

Holding many years of experience in a wide array of industries, these outsourcing service providers works to stay abreast of developments in our
ever-changing state and federal tax laws. Their full line of tax services includes preparation of tax returns for individuals, corporations, partnerships
and for other enterprises.
They offer:

 Business and individual tax planning, projections, and valuations.

 NRI Taxations and foreign company’s tax matters
 Special reports & projections for tax planning.
 Representation before taxing authorities.
 Support for business acquisition, reorganizations, mergers, and incorporations.
 Employee benefit programs.
 Assistance with accurate and thorough record-keeping.

Their over all tax approach is focused at working in close network with the management to define and customize the tax approach in accordance
with the client’s particular needs and benefits. They focus at:

 Understanding the business vision of the client’s organization

 Delivering value added services
 Designing the best tax-structure for our clients, in compliance with the statutory regulations
 Getting tax services streamlined for our clients
 Innovative ideas which are practical and can be systematically implemented
 Minimization of risks resulting in higher financial stability
 Tax planning opportunities for clients Domestic and expatriate tax expertise
 Tax Representation

Corporate, Fringe Benefit Tax And TDS Returns

Preparation and Filing of Corporate Tax Returns, Preparation and Filing of Appeals and Representation before Tax Authorities. Filing Returns of
TDS and Fringe Benefit Tax.

International Tax & Transfer Pricing

 Advisory Services with Reference to the DTAAS between India and Various Countries, Expatriate Taxation, etc.
 Transfer Pricing Related Advisory & Analytical Documentation Services.

Service Tax

 They provide following services to our clients with regard to Service Tax matters:
 Registration
 Record to be maintained and invoice
 Payment of service tax
 Classification of services
 Adjustment of excess service tax paid
 Credit of service tax paid
 Interest and penalty
 Notice and visit by departmental officer
 Assessment
 Revision and appeal
 Refund of tax
SME Joinup’s top “Tax Compliance” services providers understands that what you need is access, visibility and control. Their market-leading
approach combines extensive local compliance and accounting experience

Radisson Consulting

Radisson Consulting compliance services range from assisting in obtaining a Permanent Account Number, computation of income, issuance of
certificate advising tax liability on capital gains arising from the transfer of securities, dividends and any other income.
They also assist in preparation and filing of a return of income, attending and making submissions to the Indian tax authorities during the audit of
the Indian tax return and preparation of appeals. Further, we also assist in preparation and filing applications seeking an advance ruling with the
Authority for Advance Rulings.
[aw2_module slug=’external-buttons’ name=’Radisson Consulting’ website=’http://www.radissonindia.in’ /]

Adventus Business Services

Adventus was formed with the aim of providing high quality end-to-end professional services to start-ups, small to medium size businesses and
international clients by managing their non core business functions, which allows them to focus on their core business and to get an competitive
edge over other.
They offer services to both local and international clients across industries in diverse fields including finance, accounting, consulting, funds
management, taxation, company formation, process improvement and recruitment. Their differentiation lies in the multi-faceted team of highly
qualified professionals with vast industry experience which possess capability and experience of delivering high quality services in a cost effective
manner.
[aw2_module slug=’external-buttons’ name=’Adventus Business Services’ website=’http://www.adventusservices.com’ /]

VakilSearch

As the official legal advisory partner of the Confederation of Indian Industry (with a presence on mycii.in) and a legal services affiliate of
Sulekha.com, commonfloor.com and many other companies, both online (SaaS based and other) and offline, we have sound insights into how to
create a strong legal foundation for businesses.
A business looking to get started in India can engage vakilsearch.com and then go back to doing what it does best – business. They incorporate
your Company, apply for your PAN and TAN cards, prepare your documents and also get a trademark for your brand – with a convenience and
affordability that no other service provider can match.
[aw2_module slug=’external-buttons’ name=’VakilSearch’ website=’http://www.vakilsearch.com’ /]

Outsuourced CFO
With high influx of sophisticated investors (PE/VC/MNC’s-JV) & market positioning , there is growing need for optimum financial management,
need for integrating business & finance function well. Current skill deficit & cost for full time CFO to SME is prohibitive.

image source:plack.com
Business landscape in India, especially in the SME segment, is far wide with lot of hidden jewels & emerging value creators With acceleration in
consumer centric & globalization driven GDP growth in services, manufacturing & distribution businesses, leading to transformation by tapping
capital & strategic resources with generation shift at ownership level demand for finance professionals
SME Joinup’s objective is to provide high impact outsourced CFO (Financial Controller) services to businesses as one of the key stakeholder &
value creator while creating a vibrant & value driven finance function by leveraging comprehensive tools, domain expertise & rich network.
 image source:pkf.co.au
 

Advantage Business Consulting

Many businesses find themselves today operating in environments characterized by frequently changing laws constantly changing market
dynamics. In such environment, obtaining reliable and proactive information is a priority for decision making. And planning is an imperative.
They provide consulting services with invaluable support and handholding to avoid costly mistakes and save management time in dealing with
financial planning, tax intricacies and cumbersome statutory compliance. ABC has the expertise and entrepreneurial spirit to help your venture
become a success. The firm comprises of professionals who have extensive experience with backgrounds in finance, law, management and
entrepreneurial endeavors.
[aw2_module slug=’external-buttons’ name=’Advantage Business Consulting’ website=’http://www.advantage-consulting.in’ /]
Fulcrum CFO Solutions

If you think intricacies of managing your financial affairs take away too much of your time which could otherwise be used on your core business
and taking it to its true potential. You do not get to know what you want to know from your existing finance and accounting team. The business has
not yet reached a scale to warrant a full-time CFO then Outsourcing your CFO function provides the right answers.
Fulcrum CFO Solutions gives answers to all the above concerns and more. It gives you the added flexibility to use the services as the need be and
hence reduce monthly cash outgo.
[aw2_module slug=’external-buttons’ name=’Fulcrum CFO Solutions’ website=’http://www.fulcrumcfosolutions.com’ /]
Talwar Associates Inc

Talwar Associate’s is focused on finding opportunities and leveraging them to the advantage of clients in the form of significant tax savings, better
cost management, optimum utilization of manpower and better IT cost management. In addition, clients experience a major reduction in their
bottom-line expenses through tailored, innovative methodologies developed by the firm.
[aw2_module slug=’external-buttons’ name=’Talwar Associates Inc’ website=’http://www.talwarassociates.co.in’ /]
 

Financial Advisory Services

Government enforcement actions, complex business litigation, allegations of fraud perpetration, or the experiencing of fraud are among the
challenges that companies and legal counsel may face at any given moment. In those circumstances, organizations and their counsel need
experienced accounting, economics, and financial professionals with a successful record of responding to urgent situations—whenever, wherever
those professionals are needed.
 Image courtesy: marianieassociati.it
SME Joinup being helps you get connected with leading outsourcing finance and accounting service provider of integrated risk management
and financial advisory services to the banking and capital markets, insurance, asset management, energy and corporate treasury sectors, we
can help you tackle the numerous challenges of risk management.

Radisson Consulting
Radisson Consulting LLP (“Radisson”) is promoted by eminent professionals with proven track record of consistent performance under the
leadership of Mr. Sunil M Sharma, Former CEO of BDO Consulting and Haribhakti & Co in India providing premium services in Tax, Regulatory,
Assurance, Corporate Finance and Real Estate Advisory.
The Firm’s operations focuses on consulting disciplines and compliance services which it deploys to assist its clients in developing and expanding
their businesses. These include:  Assurance and attestation  Services Corporate tax (Direct and indirect) advisory Corporate finance and other
allied  disciplines Real Estate Advisory Services
[aw2_module slug=’external-buttons’ name=’Radisson Consulting’ website=’http://www.radissonindiain’ /]

Adventus Business Services

ADVENTUS is a North based financial services company focused on providing high quality professional services in cost effective manner to our
clients. Founded by qualified professionals (Chartered Accountants) with combined industry experience of about 4 decades across leading
multinationals and Indian companies (viz Deloitte, EY, KPMG, Standard Chartered, Barclays, HCL, Flex group, Dalmia group, Aircel, etc); and
across different verticals of accounting, taxation, auditing, financial advisory consulting, fund raising, financial planning, process transformation &
ERP implementation.
[aw2_module slug=’external-buttons’ name=’Adventus Business Consulting’ website=’http://www.adventusservices.com’/]
 Advantage Business Consulting

ADVANTAGE Business Consulting (ABC) is a financial and business consulting firm specialising in a broad array of services with particular focus
on start-ups and emerging businesses.
Theye provide consulting services with invaluable support and hand-holding to avoid costly mistakes and save management time in dealing with
financial planning, tax intricacies and cumbersome statutory compliance. ABC has the expertise and entrepreneurial spirit to help your venture
become a success. The firm comprises of professionals who have extensive experience with backgrounds in finance, law, management and
entrepreneurial endeavors.
[aw2_module slug=’external-buttons’ name=’Advantage Business Consulting’ website=’http://www.advantag-consulting.in’/]

Business Setup Services

India has become an increasingly attractive destination for doing business. Foreign direct investment has been on the rise with a growing number
of international businesses looking at establishing operations here. However, the risks associated with venturing into a new territory with a complex
accounting, tax and regulatory environment are many. A multitude of languages and vast cultural differences within the country itself add to the
difficulties and costs of doing business in India.

image courtesy:bizhoops.com
Whether you are looking to expand your existing operations in the country or planning to set up in India, SME Joinupprovide a one-stop solution
and handhold to startups and SMEs through the intricacies of the process.
SME Joinup‘s team work with you right from the conceptualization phase to being your implementation partner in greenfield business set-ups,
acquisitions and joint ventures.
Lets Comply

LetsComply is a technology driven platform to provide world-class affordable and convenient professional services under the guidance of
experienced team of professionals, whose knowledge & credentials are proven. We are committed to help entrepreneurs and business owners to
start, manage and grow their business by simplifying everything related to legal, financial & taxation related regulatory framework of business so
that they focus on innovation and expansion without having concern about compliance, which matters the most.
[aw2_module slug=’external-buttons’ name=’Lets Comply’ website=’http://www.letscomply.com’/]
 

Maple Tree Business Consultants

Maple Tree Business Consultant is an India based Business Consultancy firm set up by a team of well experienced dedicated professionals
rendering comprehensive professional services which mainly include Business Entry Services, Finance and Accounting (F&A), Taxation, Corporate
Services and Payroll Management etc.
Client satisfaction and quality work have been our main focus from the day one and have designed their services in such a way that an entity can
avail their services on one stop shop basis i.e. right from the start to the growth phase.
[aw2_module slug=’external-buttons’ name=’Maple Tree Business Consultants’ website=’http://www.mapletree-india.com’/]
Fundscoop Advisors

Setting up business in India by an Indian Entrepreneur involves all crucial decisions including regulatory requirements for formation of a company,
powers and responsibilities of the directors and managers, raising of capital, holding company meetings, maintenance and audit of company
accounts and winding up of a company.
Fundscoop Advisors offer help to companies in going through these processes and assisting in business set-up.
[aw2_module slug=’external-buttons’ name=’Fundscoop Advisors’ website=’http://www.taxscoop.in’/]
 

Accounting Software
Small and medium sized businesses can now buy ‘off the shelf’ accounting programs at remarkably low cost.  Larger businesses will often have
customized programs made for their business.  The accounting programs carry out functions such as invoicing, dealing with payments, paying
wages and providing regular accounting reports such as trading and profit and loss accounts and balance sheets.

image courtesy:optimumtech.com.my
The introduction of computerized accounting systems provide major advantages such as speed and accuracy of operation, and, perhaps most
importantly, the ability to see the real-time state of the company’s financial position. In my experience I have never seen a business that has
upgraded to a computerized accounting system return to paper based accounting systems. A typical computerized accounting package will offer a
number of different facilities.
These include:
– On-screen input and printout of sales invoices 
– Automatic updating of customer accounts in the sales ledger 
– Recording of suppliers’ invoices 
– Automatic updating of suppliers’ accounts in the purchases ledger Recording of bank receipts 
– Making payments to suppliers and for expenses 
– Automatic updating of the general ledger 
– Automatic adjustment of stock records 
– Integration of a business database with the accounting program 
– Automatic calculation of payroll and associated entries
SME Joinup has lined up some of the best accounting software solution providers that specifically caters to Startups and SMEs:
Pact Business Solutions

PACT constantly delivers innovative, flexible and secure software solutions while maximizing value at every step in our customers and partner
relationships. We are extremely proud of our dedication to customer service, and we prize the long term relationships that we develop with our
clients.
Our modular business management solution for small and mid-size businesses is a fully integrated solution that allows automation of all business
operations including accounting, accounts receivable, accounts payable, order management, inventory management, point of sale, asset
management, payroll, etc.
[aw2_module slug=’external-buttons’ name=’Pact Business Solutions’ website=’http://www.pactsoft.com’/]
 

Profitbooks

ProfitBooks is fastest growing & amazingly simple to use cloud accounting software for Indian Businesses. It lets you create beautiful invoices,
track expenses and manage inventory without any accounting background.
[aw2_module slug=’external-buttons’ name=’Profitbooks’ website=’http://www.profitbooks.net’/]
Mprofit

MProfit is a desktop portfolio management software for HNI’s, NRI’s, family office’s, advisors and companies to track investments. MProfit was
founded by technology experts with a passion for financial services. The experienced co-founders have a long and outstanding track record of
building and running technology companies for the past 20 years. The MProfit mission is simple: 1. Easy to use software; 2. Low cost price point;
and 3. Unmatched customer service.
[aw2_module slug=’external-buttons’ name=’MPROFIT’ website=’http://www.mprofit.in’/]

Outsource now!
Enjoy premium quality finance and accounting outsourcing services to reduce cost and boost productivity only at SME Joinup. Get in touch
with us today.

Bookkeeping vs. Accounting: What They Do For Small

Businesses India?
 March 10, 2016

Small businesses India live and die by their cash flow and accountability. With the help of accurate recordings of transactions, coupled with
proper assessment and processing, give small business owners India a firm base on which to make decisions and create plans for growth.
Fledgling small business entrepreneurs are often told that they should hire a professional to help with the accounting side of their companies.
Because both bookkeepers and accountants offer services, understanding which one you need can be puzzling.
When most people think about bookkeeping and accounting, they would be hard pressed to describe the differences between each process. In
this blog, the functional differences between accounting and bookkeeping are explained, as well as the differences between the roles of
bookkeepers and accountants.
Know The Bookkeeping & Accounting Difference
A bookkeeper’s territory is daily financial transactions, which include purchases, receipts, sales and payments. Recording these items is usually
done through a general ledger or journal. Many small businesses use software such as QuickBooks or Peachtree to keep track of their entries,
debits and credits. Their efforts culminate in a trial balance, which means the final total of debits and credits match.
Accounting is designed to turn data into information. 
The role of an accountant, therefore, is to verify the data entered, and then use that data to generate reports, analyze the account, perform audits
and prepare financial reporting records, like tax returns, income statements and balance sheets. An accountant’s analysis of the financial
information can provide information for forecasts, business trends, opportunity for growth and when to restrict spending to manage cash flow.

How Do Small Businesses Figure Out Which They Need?

Many times it depends on the industry and the level of expertise it requires. Questions usually asked by the outsourcing accounting and
bookkeeping service provider to their clients in order to structure their services include:

 What industry is the company is in?

 Do they maintain a number of fixed assets or a large amount of inventory?
 How many employees do they have?

The more complex the organization, the more important it is to make sure that the company’s bookkeeper is also supported by a good CA who can
provide advice as and if needed. It’s a great partnership that keeps communication open and data strong.

How Costly Are Bookkeepers and Accountants?

Generally speaking, bookkeepers are less expensive than accountants, which makes them a great choice for a company that needs day-to-day
expertise. A good bookkeeper can also act as the canary in the tunnel, offering attention to something that might need higher levels of advice.
Pricing depends on geographic location and industry, as well as experience.
Bookkeepers are a great way to manage expenses, but having the periodic support of a accountant ensures that you have more than one set of
eyes on the books. This not only helps to provide more accurate data, but also can act as a deterrent to fraud or theft.

How Do You Make Sure That You Are Hiring A Qualified Accounting or
Bookkeeping service provider?
Ask for references, and call them.  A referral means a lot. You obviously don’t want your business to end up in a mess because of some naive
mistake. Choose a professional outsourcing accounting and bookkeeping service providers who are experienced and working in this field for many
years.
When Should You Hire?
The earlier the better. Many small business owners will try to sort out the information themselves and then have a bumpy ride when it comes time
to transition. A good compromise is to consult with an accounting professional when the business is started and then perhaps touch base
periodically, such as once a quarter.
Ask for a quote or pricing, and fit in some sort of periodic meeting into your budget. Errors tend to continue until caught at year end or the next time
a professional sees the books. Books that are set up correctly in the beginning can be a strong tool for measurement and growth.
Additionally, most accountants and bookkeepers are happy to answer a few questions, and they enjoy being able to see a business grow and for
clients to be successful. After all, the basement startup today could be their biggest client tomorrow.
A successful marriage between bookkeeping and accounting will contribute to the long-term financial success of the business.
Organized financial records and properly balanced finances produced by the bookkeeping and accounting processes are both key factors to this
success.
Some business owners learn to manage their finances on their own, while others opt to hire an outsourcing accounting and bookkeeping service
providers, so that they can focus on the parts of their business that they really love. Whichever option you choose, investing – whether it be time or
money – into your business financial will only help your business grow.
SME Joinup has listed top outsourcing accounting and bookkeeping service providers for small businesses India.

 Radisson Consulting
Setting up the basic procedure of the accounting, timely adaption of the books of accounts, adherence to the compliance requirements of Income
Tax, VAT Laws, Service Tax etc. all form a part of Radisson’s accounting services.
Every member of Radisson Consulting team is passionate about pulling our clients out of the proverbial boxes they inadvertently build for
themselves. Every member of  Radisson Consulting team performs within the confines of their special and unique abilities.

 Adventus Business Services

Organizations, these days, not only look for cost-effective solutions to systematically run non-core activities like accounting and bookkeeping
services, but also expect to add value in order to achieve better control and understanding of cash flow and thereby make informed decisions. In
spite of being considered as non-core, accounting services form an integral part of an organization’s operational capabilities and systematic
functioning. Therefore, outsourced accounting services definitely help streamline core business operations of startups.

 Sapphire Taxofinance
Sapphire Taxofinance Consultants Pvt. Ltd. offers  Accounting Advisory Services.  Their advisory professionals work with clients to provide and
achieve complete financial compliance and to ensure that the accounting operations conform to the business objectives. They implement turnkey
accounting systems and also advice clients to improve existing systems and thereby augment their organization value.
   Let’s Comply
LetsComply are a team of experienced Chartered Accountants, Company Secretaries, Cost Accountants, Corporate Lawyers, Management
Graduates, IP Attorneys and Technologists. Their focus is to help entrepreneurs and business owners to start, manage and grow their business.
By simplifying their legal, financial & taxation related requirements, they help startups and small businesses focus on innovation and expansion.
They understand and appreciate the environment that entrepreneurs operate in and ensures excellence in providing focused, high valued, and
service for these entrepreneurs.
LetsComply offer cost-effective and hassle-free financial accounting solutions for all fiscal needs of your business. Their accounting services are
as good as employing a full team of seasoned in-house financial accounting experts without actually hiring them. They take time to understand
precise accounting needs of your business, and plan desired procedures to seamlessly take care of all your financial accounting needs.
 

Call on 7838006101,  or email your query at request@smejoinup.com to know more! Also,
click on “Get New Offers” for latest offers of SME Join Up!
 

Bookkeeping, Tax Filing, Voucher Maintenance- Do All Need to

be Done In-House?
 September 29, 2016

A startup or business of any size has piles of work and targets that need to be accomplished every day. It is inconsiderate of us to ask them to
function as a whole without the need of a third party to handle some of their processes. Businesses, especially SME’s outsource some processes
to such third party firms to reduce the redundant work so that they can concentrate more on their primal product.
Once the task is outsourced, the provider will ensure quality of the process and time-to-time completion of targets without interference from the
company. But is outsourcing mandatory for most of the processes? Let us take a look at what a company can outsource and what should not be
outsourced.
Most Common Outsourced Processes:

 IT
 Content Development
 Recruitment
 Manufacturing
 Legal Outsourcing
 Web Design and Maintenance
 Logistics
 Technical/ Customer Support

Advantages Of Outsourcing:
1. Professional Expertise: The tasks outsourced to vendors are done so because they have a certain degree of professionalism to carry out
the process. Their experience in the process will determine their competency in handling your operations.
2. Concentration on Core Specifics: Like discussed above, a company would rather concentrate on development of their product rather than
scrutinising the problems associated with redundant or minute tasks.
3. Risk Mitigation: If the company is not confident in creating a fool-proof process, professional outsourcing companies will help them build
such a process with more focus on the risk-mitigating
4. Costs: Outsourcing business can help you save a lot more money since there are no promotions involved, no bonuses for employees,
save on health benefits, This is a primary reason why in-house is not as favoured when they can transfer a set of duties to a third party
firm for a cheaper price.

Advantages of In-house Processes:

 
 1. No Risk of Exposing Data: Customer confidentiality is crucial since information of your company in your rival’s hands can be maliciously
used against you. This is one of the many outcomes of handling the processes of a company in-house.
2. Meeting Demands: Prompt deliverance and high-quality work should be the objective of the outsourcer if you hire one. If you have an in-
house expert handling the process, you can guarantee imminent delivery as well as ensure quality since you can keep random checks on
the work. As a company, you lose this authority when you outsource.
3. Hidden Costs: In the previous section, we stressed that outsourcing can be cost efficient, but there are many costs hidden within the
contract that you may have to pay up while signing. These hidden costs may be camouflaged, but they are there to eat up your
resources.
4. Customer/Company Oriented: Handling processes in-house gives you the advantage to look over the tiniest aspects of the process thus
creating processes tailor-made while keeping the objectives of the organisation and customers on priority.

Let us take a look at what can be done for services like Bookkeeping, tax filing and voucher maintenance. Understand that these processes
are unique and there is no decisive answer to the above question. It is only after looking at the company’s scenario a valid judgment can be made.

Bookkeeping:
Insert CTA
 

Image source

 
Keeping track of the financial records and the financial affairs of the company is the primary job of a bookkeeping business. There are various
bookkeeping software like QuickBooks available for handling this process efficiently.

When should you outsource?

 
The right answer to this question would be when you are still in the developing phase. At this point in time, the company is more into developing a
product rather than looking over the intricacies happening in the background. As a small startup, you will probably be nonchalant about your client’s
credentials even if you fear you have hired the wrong firm to handle the bookkeeping solutions. Cost is another aspect to keep in mind while
planning to outsource this process. It is considered best for the accounting services for small businesses to be outsourced at this time. There
are various small accounting firms that can handle your business.

When should you take control of the process?

 
After the startup phase is over and you are becoming a recognised company in your field, many rival businesses would be happy to possess your
customer details, transactions details, copies of product information, which are reasons to shift in-house. Other than the fact of the outsourcing firm
betraying you, the company would have grown to find professional expertise within the employees itself. In-house would help you get prompt
delivery and efficient process handling. At this stage of time, you should probably not worry about the perks of an outsource team but concentrate
on becoming independent.

 
Tax Filing:
 

Image Source

 
The task of a tax preparer is to maintain and prepare tax returns for corporations or individuals. The primary objective inclusive in business tax
services is to find ways to reduce the tax returns of the businesses to increase their profitability. This tax preparation service also deals with the
taxes overpaid, complete the mandatory forms required for filing tax returns, etc. Here is a case study of Treelife Consulting and the hurdles they
went through the process of tax filing.
Over the years it has been noticed that many businesses find the process of tax filing as one of the most monotonous tasks which can be
overlooked by the company since it has no direct influence on product development. It is of course not a menial task but one that needs
professional accountant services. So it is better to stick to outsourcing this process to professionals if you are sceptical of being on top of this
specific process since it needs you to be acute in bookkeeping, the dynamic changing tax legislatures in every state and, of course, accounting.
Most of the SME’s face problems in accounting and therefore small business accounting is outsourced to professionals. Simple software or
novice tax filers are not what the company wants at any stage of development. Dependency on accountants to handle tax filing is no way pointing
to your incompetency but is helping you to concentrate on the tasks at hand. If you plan to outsource the tax and accounting work, here is a list
of tax filing firms in India.

Voucher Maintenance:

Image source
 
Voucher is the first part of the payables life cycle and there should be a department that looks over this process. Voucher maintenance includes:

 Voucher Approval
 Voucher closure
 Voucher correction
 OpenItem Accounting

Voucher maintenance is an easy task as compared to the other tasks mentioned above. There is no necessity for outsourcing the voucher
maintenance to third-party companies. There are various software in the market that will allow you to perform the mandatory voucher related
activities with precision and ease. The employees handling this department need not have any pre-requisite knowledge as the software are intuitive
and easy to learn. Oracle and MARG are some of the top developers for maintenance of software.

Conclusion:
 
The decision for choosing outsourcing companies or inbound departments is not black and white. There are many factors you need to take into
account while deciding which path to choose. Both of these paths are effective if taken in the right spirit. It is always better to understand the needs
of the company first before taking a huge step to create inbound processes or hire third party agents. The above-mentioned decisions may be
biased and it is thus necessary to analyse the advantages and disadvantages before taking such a huge step. Once this decision is taken, you may
have to stick with the outsourcing company for a long time for fruitful results which is why a wrong decision can lead to bad results.
 

Outsource Top 5 Accounting Functions To Streamline Your

Documentation Concerning Your Accounting
 November 09, 2016

A lot of small business owners think that accounting tasks should be done in-house. Aside from minding the cost of outsourcing accounting
functions, these entrepreneurs don’t want to hand out sensitive information regarding their financial status to outsiders. Yet, the same people
forget that there are more benefits to reap in outsourcing than the cost they have to pay.
 
 

image source:sbtsystems.com
 
Businesses are held accountable to a much stricter set of rules than individuals; hence it is important to keep a neat filing of bills and vouchers.
Companies today are continually being challenged to reduce costs, extract the most value possible from their expenditures.

Will Outsourcing Accounting Functions Worth My Time?

Instead of asking such exclusive question, you should consider asking yourself whether outsourcing your accounting tasks can save you more
extra time. More importantly, you’ll also come upon the next important question, “What will you do with that extra time?” Are you going to use it by
building relationships with people? Or do you intend to improve your company’s marketing strategies with it?
 
There are so many things to do in a very short time. Make sure that your decision to outsource comes from the fact that you’ve got to attend to
more important things than taking care of the boring, grueling accounting stuff.

Top 5 Accounting Functions That Can Be Outsourced?

Outsourcing your accounting functions is just a start. The outsourcing service provider company will process your transactions daily, just like an
internal accounting department. Their expert accountants can handle the following accounting functions:

 Vendor bill payment

It includes preparation of purchase journal, review of cash position and prioritizing of payments, processing of payments.

 Sales invoicing

A sales invoice in financial accounting is a tool that a company uses to communicate to clients about the sums that are due in exchange for goods
that have been sold. A sales invoice should include information about which items the customer has purchased, the quantities he has bought,
discounts he has received, and the total amount he owes. In addition, a sales invoice should contain a brief summary of the terms of the
transaction, such as the acceptable lag time between the sale and the payment.

 Account reconciliations for your bank accounts, and credit card statements

Account reconciliation, defined as the act of confirming whether the actual account balance matches the corresponding bank statement, is crucial
to the financial health of large corporations and organizations. By verifying the accuracy of each account, the account reconciliation team identifies
errors and inconsistencies requiring correction, and reconciles the final balance accordingly. Account reconciliation services are inclusive of:

 Check Sequencing
 Reconciliation reports in electronic files or paper
 Comprehensive reports in balance with your bank statement
 Flexible reconciliation periods
 Input data in client-specific formats

 Accounts receivable and accounts payable management

Accounts receivable is the money that a company has a right to receive because it had provided customers with goods and/or services. Accounts
Receivables service include:

 Generating, Printing and Mailing Invoices

 Timesheet Collection and Invoice Delivery
 Vigorously audit and check quality standards for best services
 Collections monitoring and following up with customers for open invoices
  Prepare Daily Deposit/Invoice Reports

 Financial statement and custom reporting

Accurately tracking financial data is not only critical for running the day-to-day operations of your small business, but it is also essential when
seeking funding from lenders or investors to take your business to the next level. In addition, keeping tabs of your finances by outsourcing
financial statement and reporting services can help ensure your products and services are priced right, identify what your margins are,
determine your cash flow and make filing taxes easier.
 

image source:bmgoutsourcing.com.au941
 
Apart from the above mentioned; you can outsource other accounting functions like:

 General ledger maintenance

 Cash flow management
 Bank account reconciliation services
 Expenses ledger maintenance
 Preparing ageing reports and summaries
 Inventory reconciliation
 Fixed assets register maintenance

How To Determine Best Accounting Function Outsourcing Company?

This is the number one problem entrepreneurs think they’re facing when it comes to outsourcing. In fact, even though the cost matters a slight
margin, it doesn’t really equate to how much you’re going to save with outsourcing. Accounting tasks, when outsourced, could help you save
more than what you thought.
Outsource accounting functions, you’ll no longer need to run accounting cost in-house. This helps you rapidly increase income because you’re
allotting your saved time to doing the things that matter most in your business.
Also, when approaching an outsourcing accounting firm, it important to see whether it offers specialized accounting service for the one you are
looking for. If you’re choosing a company that offers the lowest price, make sure that they can provide you with the services necessary for your
business. If not, you’ll be facing bigger problems at a bigger cost later on.
 

How Much Will Outsourcing Accounting Will Cost Me?

This is the number one problem entrepreneurs think they’re facing when it comes to outsourcing. In fact, even though the cost matters a slight
margin, it doesn’t really equate to how much you’re going to save with outsourcing. Accounting tasks, when outsourced, could help you save more
than what you thought.
Through outsource accounting, you’ll no longer need to run accounting cost in-house. This helps you rapidly increase income because you’re
allotting your saved time to doing the things that matter most in your business.
Ask different outsourcing firms to provide you with a quotation of their services, so you’ll have the chance to compare which company offers a
competitive offering. If you’re choosing a company that offers the lowest price, make sure that they can provide you with the services necessary for
your business. If not, you’ll be facing bigger problems at a bigger cost later on.
 
Top 5 Financial Accounting and Bookkeeping Outsourcing
Services For Small Businesses in India
 November 27, 2015

Precise and current financial information can be an effective resource for developing businesses. Having accurate  financial
accounting information allows business owners to be able to obtain resources, grow profitability and make better strategic decisions.
“In this age of electronic money, investors are no longer seduced by a financial ‘dance of a thousand veils.’ Only hard and accurate information on
reserves, current accounts, and monetary and fiscal conditions will keep capital from fleeing precipitously at the first sign of trouble.”- Larry
Summers
Financial accounting and bookkeeping services can bring business owners a competitive advantage, the process of collecting, compiling, and
conveying financial information can be a major strain on the company’s resources.

It is more and beyond just few basic accounting calculation of business

If you are spending too much of your time managing financial accounting processes or find your organization isn’t getting the value it should from
financial information, maybe you should consider working with a financial accounting and bookkeeping firm that specializes in outsourced
accounting and bookkeeping services.
Entrepreneurs who hire accounting and bookkeeping help usually discover they weren’t doing nearly as well on their own as they thought they
were.
Organizations, these days, not only look for cost-effective solutions to systematically run non-core activities like accounting and payroll services,
but also expect to add value in order to achieve better control and understanding of cash flow and thereby make informed decisions.
How small businesses of India can benefit from hiring financial accounting and
bookkeeping services?

How to hire best financial accounting and bookkeeping services?

By this time, you might already be convinced that outsourcing accounting services to a third party provider can elevate your business performance.
Here then are some qualities to look for the best and top quality accounting outsourcing companies:

1. Industry Experience and Certified Staff. Make sure you are hiring an accounting and payroll agency with expertise and specialized
knowledge of your industry. Keep in mind that some of your functions may be unique only to your sector and when an inexperienced
accounting services will be asked to perform would take longer to accomplish at low quality standard. Your accounting services provider
can only provide what you want if they have trained and certified bookkeepers or accountants.
2. Cloud or Web-Based Service Architecture. Find an accounting agency that can provide you with immediate access to your own
financial data anytime, anywhere using any devices. Remove from your shortlist the offshoring firm that does not offer this capability
because you never can be sure what else they’re incapable of doing to perform for modern businesses like yours.
3. Metrics for Quality Assurance. The main reason you are hiring a third party accounting outsourcing agency is that they offer core
functions that you lack. Take for example staying current on best practices in finance, accounting and payroll or the most recent tax law
and regulatory changes. Look for an agency that can fill the gap for your financial and payroll accounting needs.

 
The best way to save yourself from the headache of financial accounting and bookkeeping services is by hiring a suitable,
knowledgeable Financial accounting and Bookkeeping service provider.
For financial accounting and bookkeeping services for your business, here are top 5 recommended vendors from SME Joinup.
Choose from the below mentioned suiting your location as well as cost competitiveness, as we believe to offer you what is best for you:

 Radisson Consulting – Financial accounting and bookkeeping services from Mumbai

Radisson Consulting is promoted by eminent professionals with proven track record of consistent performance under the leadership of Mr. Sunil M
Sharma, Former CEO of BDO Consulting and Haribhakti & Co in India providing premium services in Tax, Regulatory, Assurance, Corporate
Finance and Real Estate Advisory.
Apart from accounting services, the Firm’s operations focuses on consulting disciplines and compliance services which it deploys to assist its
clients in developing and expanding their businesses. These include:

 Assurance and attestation  Services

 Corporate tax (Direct and indirect) advisory
 Corporate finance and other allied  disciplines
 Real Estate Advisory Services

You can view, Mr. Sunil Sharma’s insights through this video .

SME Joinup has worked with Radisson Consulting and believes that it brings  together a highly qualified team from various fields to collectively
provide services for your company. Radisson provide outsourcing financial services based on the individual needs of every client including
Bookkeeping, Accounts Payable, Accounts Receivable, Invoice Processing, Payroll, Accounts Reconciliation and Compliance Services.
 

 The Back Space – Accounting service provider from Mumbai

The Back Space  founded on the principal of assisting Startups and Small & Medium Enterprises with their non-core business functions. The
services help reduce costs and increase operational efficiency. It provides customized solutions which are designed out of a deep industry-based
knowledge and support the entire business processes of each and every client. It is a professionally managed firm where the services help you
focus on your goals. The mission is to remove day-to-day operational and administrative challenges which entrepreneurs and Small & Medium
Enterprises face.
For more news and latest updates from The Back Space, Click here.
Other than accounting and bookkeeping services, The Back Space offers:

 Incorporation of company
 Compliance
 Corporate advisory
 Company secretarial services

The Back Space client list includes names like:

                        

The reason why SME Joinup recommends The Back Space is because it has vast experience in providing assurance, taxation and advisory
services to Indian and Overseas entities. It has a dedicated team for each assignment which include 2 partners, one for execution and one for
quality and review purposes. And all services under one roof giving a 360 degree view for any advice given.

Finsmart- Accounting service provider from Pune

Finsmart Solutions is a one stop solution for all your accounting and payroll needs. We are one of the leading organizations that provide high
quality Outsourced Accounting and Bookkeeping Services. Since the time we started off in 2007, we have grown considerably with an
excellent track record of providing professional accounting and payroll services to our clients.
Finsmart Solutions offers a wide range of services apart from Accounting and bookkeeping, with a variety of allied value added services. The
company believe in undertaking the responsibility of your entire accounting and payroll function thereby allowing you more time to focus on your
core business competencies.
Apart from accounting services, Finsmart offers:

 Outsourced reconciliation services

 Audit and review services
 Company incorporation services
 Outsourced payroll services
SME Joinup believes that Finsmart Solutions could proved to be the right accounting and bookkeeping service provider for your business because
client satisfaction and quality work have been their main focus from the day one and they have designed their services in such a way that an entity
can avail the services on one stop shop basis i.e. right from the start to the growth phase.

 Maple Tree Business Consultants – Payroll services from

Mumbai
Maple Tree is an India based Business Consultancy firm set up by a team of well experienced dedicated professionals rendering comprehensive
professional services which mainly include Financial accounting,  Business Entry Services, Taxation, Corporate Services and Payroll Management
etc. Client satisfaction and quality work have been our main focus from the day one and we have designed our services in such a way that an
entity can avail our services on one stop shop basis i.e. right from the start to the growth phase.
It has other offices in the locations like Bangalore, and New Delhi.
Apart from outsourcing financial accounting, it offers services like:

 Business entry services

 Taxation
 Payroll
 Recruitment
 Corporate services

 TopSource – Accounting & Bookkeeping Service provider located at Pune

Top Source brings to midsize companies a level of service and business value previously available only to the largest corporations.
TopSource can be found at other locations as well like Hyderabad, and Mumbai.
All processing is accomplished in full compliance with accounting best practices, using extensive quality control measures and electronic archival
protection of all your source documents. Their fully redundant IT system and broadband connections via two separate providers ensure continuity
in the event of power failure or other disruptive event, and actually increase the secure 24/7 access to all documents and data by authorised
personnel at your company.
Apart from accounting services, TopSource also offers:

 Human resources
 Payroll

Why SME Joinup recommends TopSource because it is an award winning specialist payroll and accounting support services organisation. It offers
the optimum balance of process and flexibility to help your business grow. The services are utilized by over 500 companies that range in size from
owner-managed to multi-national corporations.
To read their upcoming blogs, click here.

You Can’t Resist, But Click…………..

Think about all the times, when you have signed up for the accounting and bookkeeping services but haven’t received good service. SME Joinup
helps you identify the right financial and bookkeeping recommended service provider for your business, as we believe that the above mention
service providers are not only successful, but they follow best practices.
Please remember to fill in the form, with your information so that we can easily get you connected with the best of service provider suiting your
budget and business requirements.

Top 4 Outsourcing Accounting and Bookkeeping Service

Providers in India
 September 30, 2015

If we go a decade back, outsourcing was a privilege only enjoyed by some of the biggest corporations. They were the ones who first realized how
easily they could increase the quality of their operations and reduce cost by outsourcing accounting and bookkeeping services, a non-core
business function. Today the same advantages of higher quality and lower cost are available to midsize and small businesses. Except some of the
crucial aspects like budgeting, follow up on collections and inventory verification, all other possible F&A activities can be easily outsourced.
Benefits of Outsourcing Accounting and Bookkeeping Services
“By outsourcing your accounting operations to a professional accounting firm, you’re effectively hiring a team of experts. Professional accountants
know the tax codes and laws backwards and forwards—it’s their job. They work around the clock for your business by keeping up with the latest
tax information, affording you full-time coverage for only part-time pay. Staffing options are considered and executed per task, so you’ll only have
the most experienced and qualified individuals on your side, right where you need them.” – Business2Community

Image courtesy:accountinglane.com
Outsourcing accounting and bookkeeping services is a growing trend in the global marketplace. And why would it not be so? With numerous
benefits to offer outsourced accounting services can help small businesses and startups grow and flourish.
Outsourcing accounting and bookkeeping services can benefit your small business by –

 Letting you focus on your business priorities by taking care of your non-core accounting functions
 Making your finance and accounting process streamlined
 Providing you with regular updates and thorough reports
 Saving on HR cost
 Keeping track of costs and budget
 Providing you advantage of the best accounting software
 Offering you with customized solutions
 Benefiting your business with expertise of qualified CAs
 Giving you the advantage of zero errors, as they are completely liable

Outsourcing accounting and bookkeeping service providers are also well-versed with regulatory statutes. Want more, you have the added
benefit of choosing to fire them whenever dissatisfaction arises!
“Many companies don’t realize going in that they manage an outsourced provider more stringently than their in-house resources were managed,”
says Jag Dalal, managing director of thought leadership at the International Association of Outsourcing Professionals (IAOP).

Image courtesy:ejoggingstrollersreviews.com

The Best Outsourcing Accounting and Bookkeeping Companies in India

When it comes to building a new outsourcing relationship the biggest dilemma is to choose the best and most suitable vendor for your business.
We are here to help. Looking at factors like past performance, required skill sets, technology used and credibility, we have listed here the best
four outsourcing accounting and bookkeeping service providers in India.
1) Finsmart Solutions
Finsmart Solutions is in operations since 2007. Under outsourcing accounting and bookkeeping services, Finsmart covers monthly accounting
entries, bank reconciliation, statutory dues calculation and payment, statutory compliance, monthly book closures and monthly management
reports. It works as a ‘Virtual Accountant’ providing support in other areas like record maintenance, advice on accounting process and controls,
providing necessary information and details to auditors and attending to auditor queries.  Finsmart also provides ‘onsite’ accounting services
wherein its personnel visits client’s office at a predefined frequency to manage accounting tasks. This eliminates the need of transferring official
records from client’s offices to their office.
2) Radisson Consulting
Radisson Consulting is a trusted name in Indian market. Promoted by highly qualified professionals with proven track record, Radisson Consulting
majorly focuses on consulting disciplines and compliance services which it deploys to assists its clients in developing and expanding their
businesses. Radisson Consulting provides premium services in tax, regulatory, assurance, corporate finance and real estate advisory.
3) Adventus Business Services
Adventus Business Services offers bookkeeping services that are focused at helping customers with the management, accounting and tax
preparation needs thereby reducing their finance and accounts operating costs. Adventus covers the entire scope of bookkeeping right from set-up,
support, maintenance and consultancy through their professional and personalized services; offering quick turnaround time and quality
standards. Founded on Big 4 experience, the F&A team at Adventus Business Services delivers the full suite of F&A services, from transaction
processing to decision-support analytics and risk management. They have taken up and accomplished projects for companies like Punj Lloyd,
Emerald Group Publishing, NPCL, BMW, Hilux Autoelectric and Benetton.
4) CA Matters Online
CA Matters Online provides business outsourcing activities to businesses all across India. When it comes to outsourcing accounting and
bookkeeping, CA Matters Online offers services like monthly book-keeping, tax compliance, audit and assurance, internal audits, payroll
management and corporate law compliance. The firm also provides e-mudhra driven Digital Signatures with Trust-key USB tokens at competitive
prices. With CA Matters Online, clients can access their accounts 24X7 with customized MIS reports available every quarter. They provide
customized solutions according to clients’ needs and offer different packages to start-ups in the first two years of their operations.
Letting your small business grow…
Several big and small businesses are already reaping benefits of outsourcing accounting and bookkeeping services to professional service
providers. Outsourcing your accounting and bookkeeping tasks is a great way to gain complete, full-time knowledge on your F&A process without
having to pay for it around the clock. Your work becomes much easier, smooth and effective by putting your accounts into the hands of a highly
experienced accounting outsourcing company that understands the best practices and knows how to properly staff for certain tasks.