A virtual accountant is an accounting solution that provides digital accounting services for organizations which desire engaging services of experienced staff and professional as against engaging full-time employee to provide for the needs of business as it expands and the volume of the books of accounts to be maintained increases. The services come with institutional support as there is continuity to the process.
Virtual accountants are extremely useful for small to medium-sized businesses as it is cost-effective and flexible as per the requirements of the entity.
Our team provides services to fulfil the needs of your business with utmost commitment and flexibility. You get to choose a range of accounting services from the below listed service offerings that are best-suited to meet your business needs.
Need for Virtual Accounting:
Opting for Virtual Accounting service with us is a strategic decision for a business. When a business is too small to hire a full team of in-house experts, it can go for outsourcing its finance function especially MSMEs, Start-ups and other small entities. Also, when the entrepreneur does not have the financial skills or simply does not wish to execute these functions on their own, they can outsource their Finance and Accounting activities.
The advancement of Computerized environment, Internet and technology has significantly changed the way how the business operates. This has positively impacted the Accounting Industry as well; it reduces the need for physical interactions between the user and accounting entity. Facilities like online meeting applications, online file transfer facility, document scanner, electronic-invoices, e-statements, e-documents have enabled the use for accounting through virtual mode. Through Virtual Accounting users can get their financial and accounting work done from remote locations by availing services from trusted and established service providers.
Services Rendered:
Accounting
- Book Keeping
- Bank Account Reconciliation Statements
- Payroll processing Accounting
- Fixed Asset & Depreciation Accounting
Review
- General Ledger Review.
- Review of Financial Statements.
- Budgeting, Forecasting and Variance Analysis
- Review of Compliance with Statutory laws and regulations.
Management Information System (MIS) Reports
- Monthly, quarterly, and annual Management Information System (MIS) report.
- Management of accounts receivable and accounts payable.
- Financial Planning and Strategies.
- Cash Flow Management
Compliances
- GST return preparation and filing.
- TDS return preparation and filing.
- Income tax return preparation and filing.
- Compliance with Provident Fund, Employee State Insurance, Professional Tax provisions.
- Filing of Provident Fund, Employee State Insurance and professional tax returns.
Support Services
- Liaison with Statutory Auditor for audit closure.
- GST Audit assistance.
- Income Tax Audit assistance.
- Implementation of new accounting software packages.
Benefits:
- Savings in Time and Cost.
- Increased Quality and Flexibility in finance function.
- Better Profitability by elimination of unnecessary activities.
- Oversight services of high skilled professionals.
- No need to have a separate in-house accounting team thereby reducing the recruitment needs and also providing institutional continuity.
- Ensuring adherence to compliances.
- Facilitates organization to focus on their operations by taking responsibility of financial aspects.
- Can have communication with the accountant through Virtual Meetings.
- Handles business of all sizes, forms and industries.
- Timely Information to management through reports.
- Can achieve and sustain a healthy financial system through our customized financial solutions.