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A range of tailor-made accounting outsourcing companies & bookkeeping services in India

At MAS, we believe in providing timely and quality Accounting services to our clients, thereby shifting the compliance load from your shoulders to ours. The procedure for recording company financial transactions in an accounting system and creating reports is known as bookkeeping. Maintaining the books of accounts is a statutory obligation for all business types except a sole proprietorship. Our organization offers accounting and bookkeeping services. Clients can outsource either entire accounting functions or segments of the company’s accounting processes to us, such as payroll, accounts receivables or payables, etc. We cater to businesses located both in India and abroad.

Our services are ideal for virtual or home-based businesses looking to reduce overhead expenses or for entities seeking professional expertise to manage their accounting and financial functions. Many small businesses lack the skill and experience to fulfil their company’s financial accounting requirements. Consequently, they require expert external bookkeeping services. Our experts are knowledgeable, experienced, and able to handle tasks like drafting financial statements, budget analysis, and management reporting. To assist our clients with their unique booking requirements, we use tracking and recording information in advanced accounting software customized to meet our client’s specific needs.

Our service portfolio includes:

  • Maintaining statutory books of accounts
  • Assistance with preparing monthly or quarterly accounting reports
  • Financial reporting and analysis
  • Preparation of forecasts & projections
  • Inventory management
  • Payroll processing
  • The implementation of an accounting system
  • Setting up of a chart of accounts
  • Accounts receivable management
  • Accounts payable management
  • Accounts reconciliations
  • Cash flow management, including budgeting and forecasting
  • Consolidation of financial statements of group businesses

FAQs

Why is accounting important in business?

Accounting or bookkeeping plays an essential role in running a business as it helps you keep a track of income and expenditures, ensure statutory compliance, and provide investors, government and the management with quantitative financial information which can be used in making various business decisions.

What are the main processes of accounting?

The main processes of accounting are:

  • Identification of data
  • Recording of data
  • Communication of data
Do all businesses need accounting services?

Yes, all businesses need accounting services for estimating and preparing its tax returns. Therefore, you will need a firm or an accountant to assist with the company’s tax needs.

What is accounting software?

Accounting software helps in keeping track of cash inflows and outflows of an organization. There are different kind of modules present through which a software works, such as General Ledger, Account Receivables, Account Payable, etc. The software can also manage the payroll system and takes care of reporting management.

What software is currently being used in accounting?

Following are some software’s required for accounting:

  • QuickBooks Online.
  • Xero
  • FreshBooks
  • Sage
  • Zoho Books.
  • Odoo Accounting.
  • Wave Accounting.
  • Sage Intact.
What are the managerial functions of accounting?

Five managerial functions of accounting are:

  • Control of financial policy and formation of planning.
  • Preparation of budget.
  • Cost control.
  • Evaluation of employee’s performance.
  • Prevention of errors and frauds.
What are the responsibilities of a bookkeeper?

Bookkeepers are responsible for an on-going maintenance of their client’s general ledgers. Bookkeepers’ usual responsibilities consist of:

  • Compiling data on a regular basis
  • Categorizing expenses in the general ledger
  • Reviewing the general ledger for accuracy
  • Reconciling bank statements against the general ledger
  • Generating financial statements
What kind of services do Bookkeepers provide?
  • Bank Reconciliations
  • Accounts Payable
  • Accounts Receivable
  • Expense Reports
  • Cheque Preparations
  • Payroll
  • Financial Statements
How does a virtual bookkeeping service work?

A virtual bookkeeper handles your bookkeeping remotely; you communicate with them and share your financial information. Bookkeeping services are performed by one of the three ways: 1) Online 2) Cloud-hosted platform or 3) Locally on our computer and send back the file when completed. Depending on the schedule that you choose for the books to be updated, we can perform the bookkeeping services daily, weekly, twice monthly, monthly, quarterly, and annually. Whenever our scheduled time occurs, the day before is the deadline to turn in documents related to the bookkeeping, bills, checks written, etc.

Why outsource services instead of hiring an employee?

You have the option to hire an employee to help with bookkeeping and accounting. But, make sure that you understand the financial burden of bringing in another employee. Not only do you need to pay the full-time salary, but other associated costs include benefits, office equipment, office space, employment taxes, payroll, and more. These costs can add up!

My business is located outside India; can you still keep my books?

Yes! We work remotely with all of our clients and conduct meetings over the phone and video calls. As long as you have an access to the internet, you can work from anywhere in the world, and we can still keep your books.

How do I get my documents to you?

Dropbox is preferred; we can also use any other shared drive or e-mail. We can conform to any process that makes our client’s life easier.

How much does a bookkeeper cost?

A bookkeeper charges a flat monthly fee or an hourly rate based on your needs and requirements.

How much do you charge?

At MAS, there are no up-front fees or hidden costs. You pay us by the hour, so you pay only for what you need. Unlike a part-time employee, there are no charges for taxes and benefits. The specific rate depends on the scope of work. For an exact quote, please contact us.

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