accounts outsourcing to india
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Labdhie Associates
Our Commitment. Your Trust.
About Labdhie Associates
Labdhie Associates is a Financial Outsourcing firm. Our team consists of Business Process Management and Finance & Accounting experts across the entire range of necessary skills. Our team will use its understanding of your business and the industry to provide an approach that builds upon your strength.
Quality of our work is based on deep understanding of various business processes. We have the technical expertise to diagnose your problems and offer established, realistic solutions. Our experts provide our clients with several cost reduction ideas and risk management measures.
Our goal is to understand your needs and to go beyond your expectations. It’s our firm belief and commitment that in Labdhie you will find a partner who can help you achieve your goals across a broad spectrum of activities – operations, compliance and management reporting.
All we could say with open arms is Welcome aboard!
Service Offerings
Sales & Purchase
accounting
Fixed Assets Register
Depreciation / Amortisations
calculations
General expense
accounting
Receipt and Payment
accounting
Inventory Records
Bank account
reconciliation
Supplier/customer
code creation
Financial statements
and analysis
Cash Flow & Fund Flow Statements
Management reporting
Bookkeeping Services
• Processing of customer invoices, receipts , sales orders and accounts receivable processing
• Entry of purchases/expenses and accounts payable processing
• Check and customer payments processing • Bank, credit card, checking and merchant
account reconciliation• General ledger maintenance• Generation of financial statements • Aging and collection reports• Monthly / Yearly closing of books• Entry of transactions• Setting up/ updating chart of accounts and
maintaining ledger accounts
• Preparation of monthly and yearly financials-income statement, cash-flow statement and balance sheet
• Entering Account Opening Balances• Setting Up a Service Item• Creating a Service Invoice• Making Deposits• Writing Check• Posting Debit Memos• Creating Purchase Orders• Entering Products into Inventory• Receiving Inventory• Paying for Inventory• Financial analysis like ratio analysis,
break-even analysis, NPV and IRR
Service Offerings
Business Plans
SOP
HR Manual
Tax Returns
Outsourced Internal
Audit
Payroll Processing
Periodic MIS
Other Major Services
• Preparing Business plans with marketing and financial projections
• Preparing Standard operating procedures (SOP) with adequate controls in place
• Preparing Employee Hand book / HR Manual incorporating organization policies
• Creating and maintaining employee profiles on the Payroll system
• Managing time and attendance • Payroll reports such as Headcount, Month
on Month Variation Analysis etc.,• Processing of Weekly/Bimonthly/Monthly
Payroll from time sheet • Calculation of Net Pay checks • Payroll Journal and Payroll Summary
• Internal Audit Outsourcing - Testing the operating effectiveness of controls
• Management Information System (MIS) activities
• Preparation of forms / returns• Payroll tax returns• Quarterly and annual tax reports• Employee insurance deductions• Compliance reporting• Individual Tax Returns• Corporation Tax returns• Partnership Tax returns • Estate and trust tax returns• Maintenance of VAT control account and
preparation of VAT returns
Application Usage
Our team have expertise in using the following applications:
Applications Expertise Level
QuickBooks High
Tally High
Sage Medium
Oracle High
SAP High
MYOB Accounting Plus Medium
Peachtree Medium
Peoplesoft Medium
Xero Medium to High
Infrastructure
Infrastructure - Key Highlights:
Spacious 850 Square Feet office set-up with modern facilities.
Seater capacity: 15 seats (extendible at short notice)
Uninterrupted power supply (with online battery back-up)
Two tier IT support for quick resolution of IT problems
Computers with latest technology configuration
Multiple network connections to ensure continuous online connectivity
Document management and work-flow systems used extensively to manage processes
Data Security
Data Security Practices:
Physical and Work floor Security
Screening of visitors/employees by a security guard during entry and exit for data
storage media like cds
USB drives and cds are banned from work-floor
Employees sign a Non Disclosure Agreement (NDA) with punitive clauses
Mandatory background checks performed for all employees
Data Security: All data is backed up regularly
Network Security: Use of secured line with firewall protection
PC Security
Access to source documents is restricted to authorized employees only
No fax and printing capabilities at the processing site
PCs used by processors do not have USB, CD ROM drives and are denied web
access
Limited usage of paper in the work-floor
Our Approach
Stages Salient Features
Stage I: Planning Comprehensive, detailed project planning is critical to provide an effective, high-quality services. This stage enables the team to :• Gain an understanding of the project to be performed• Agree on approach, scope and schedule• Agree on the engagement protocols (Coordinators, reporting
lines, etc)
Stage II: Obtaining Input Data
Input data can be transmitted through e-mail or Dropbox or FTP server. Paper reports / CD may be couriered to us. Interdependencies between our team and key stakeholders is identified and managed.
Stage III: Execution & Delivery
The recording and analysis of transactions / financial data is performed on a daily basis. The output is delivered by any of the following modes:
- We update and upload books to a secure Dropbox folder / FTP Server
- We login & update the books on the online bookkeeping software
- We access your system using a secure VPN & update the books
- Emailing reports
A detailed internal reviews by team manager is regularly performed in order to to ensure consistency and quality.
Stage IV: Feedback • This stage would also involve debrief call with the key stakeholders to assess the service delivery and identify areas of improvement.
• As a part of our quality procedures we normally seek a formal feedback on our performance, from Clients.
Our Approach
Source documents1
scanned and uploaded by client staff
Web basedInterface/FTP
Data Input
Quality Control
Data Processing
Data Transfer
Data Output
Input data (Images) located at client server/our server
Team in India - Downloads and checks data - Enters data in accounting package residing at client server/our server
Dedicated quality resource checks processed work
Web basedInterface/FTP
- Updated client accounts - Reporting statements
Note1. Source documents include invoice, bills, purchase orders, and bank statements among others
Expected Benefits
Team• A dedicated, motivated and very senior team that will deliver. Our team
includes specialists who have worked with Big four accounting firms. They understand your concerns.
Approach
• Our simple, flexible and practical approach will meet your needs. • Quality manuals with standardized procedures followed for each
accounting process
Pricing • Our very aggressive pricing, expressing our desire to work with you
Data Security • Highest priority for management of Information Resources & safeguarding of client data.
Committed to Service
• Critical input/outputs are continuously monitored against predefined Key Performance Indicators (KPI)
• Passionate about working with you with a promise to deliver the highest quality of service.
Cost Saving Summary
100
Cost of In-house personnel1
+2 to +3~30 to~40
~ 5 to ~10~50 to ~60
~5 to ~15 ~35 to ~55
Savings fromlabor costs
Savings from lower associated2 costs
Governance costs3
Savings due toProcess improvements
Cost of outsourced process once Off-shored Cost of
outsourced processes once mature
40% to 50% cost benefit in
short term
Note1. Includes salary, benefits and ancillary costs of personnel currently executing the processes2. Associated costs include non-compensation costs related to personnel, such as, occupancy, training, computing, attrition and hiring costs, and HR support3. Includes cost of in-house personnel’s participation in administering the outsourcing relationship
Indicative figures
Thank You
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