Accounts Outsourcing Services

Managing efficient accounting processes is one of our core competencies. Whatever your back office needs, ELITE Corporate Consultants delivers the right information at the right time. In addition to long-term outsourcing arrangements, ELITE Corporate Consultants’ team of CAs and accounting personnel provide various other services on a short-term project basis. They leverage their experience in accounting along with their knowledge of best practices and accounting standards to provide the following services :

  • Offshore Accounting
  • Transition of accounting processes from overseas and local entities
  • Set up of centralized accounting processes & its management for
    • GL Accounting
    • Payables processing and management
    • Inventory accounting and reconciliations
    • Capitalization and Fixed asset management
    • Sales accounting (Billing and collections)
    • Reimbursements / Expense sheets
    • MIS (Financial & operational reporting)

 

Areas Cover

Sale order to collection

  • Invoicing
  • Receipts
  • Banking and cash application
  • Customer master maintenance
  • Reconciliation and dispute resolution
  • Dunning as per pre-defined process and limits

Fixed Assets

  • Capitalization
  • Project Accounting – tracking of capital work in progress
  • Accounting for sale / disposal of assets
  • Maintenance of fixed assets register
  • Depreciation – as per books and as per tax laws (wherever different)
  • Accounting for Leases

Accounts Payable

  • Supplier invoice processing
  • Payment processing
  • Creditors Reconciliation
  • Vendor master maintenance

General Ledger

  • Journal entries for expense provisions, prepaid expenses etc. Supplier invoice processing
  • Ledger reconciliations
  • Period-end closure of books
  • Auditors co-ordination

Consolidation and inter-company transactions

  • Group consolidation
  • Elimination of inter-company transactions and balances
  • Consolidated financial statements

Taxation

  • Computation of depreciation and allowances as per tax laws
  • Preparation of statement of total income
  • Preparation of tax returns
  • Tracking carried forward losses and set-off (if any)