Bookkeeping is an integral part of any business, albeit a small, medium, or large business. At MAS, we offer:

• Convenient bookkeeping solutions
• Easy access to qualified, experienced bookkeepers and accounting professionals
• Cost-effective and reliable services

Our bookkeeping and accounting services include:

Initial setup: We assist with the initial set up including the Chart of Accounts, suppliers / vendors and customers / clients, various business segments / locations / cost centers, recurring templates for purchase bills and customer invoices, importing of opening / conversion balances, linking bank, credit card and PayPal accounts, and integrating accounting software and add-on modules.

Recording of financial transactions:This includes the creation of customer invoices to recording sales, the creation of supplier bills to recording purchases, the recording of a bank account, credit card, and PayPal transactions on a daily, weekly, monthly basis, and finally, performing month-end bank, credit card and PayPal reconciliations.

AP (Accounts Payable) and AR (Accounts Receivable) management:AP and AR are the most relevant and critical processes in every business. Our skilled consultants provide the complete management of both these processes, involving Purchase to Pay Services (P2P), Order to Cash services (O2C) and Record to Report (R2R) Services as per the business’s unique requirements.

Preparation of financials: We prepare a number of financial and management reports, including

• Income Statement / Profit & Loss
• Statement of Financial Position / Balance Sheet
• Cash Flow Statement
• Accounts Receivable Ageing Report
• Accounts Payable Ageing Report
• Journal Report
• General Ledger Report
• Segment- / Class-wise Reports
• Expenses by Vendor Report

Inventory management: Inventory management is about knowing what you have in your warehouse and where your stock is located. However, inventory or stock management is integrated with your back-office systems, an inventory management system alone cannot, and will not, effectively optimize your inventory. Nor will it ensure that the inventory asset value of your financial reports matches what is physically in stock, at least not without manual intervention and reconciliation. As a result, we provide the following services to your company, to assist with the inventory management processes.

• The setting up of the inventory in accounting software including the creation of the SKU numbers (stock keeping unit), the addition of products and SKU in the system, and keying opening inventory quantity and values
• The determination of the method of calculating inventory
• Inventory valuation
• Month- / period-end inventory adjustments
• The reconciliation between physical inventory and inventory as per the books
• The integration of the inventory management software with the accounting software, including integration management

Job costing: Job costing is the process of tracking the expenses incurred on a job against the revenue produced by that job. Job costing is an essential tool for those who are pairing a relatively high dollar-volume per customer with a moderately low number of customers such as builders, subcontractors, architects and consultants. We assist these customers with the following activities:

• The setting up of the jobs
• Creating estimates for all new jobs
• Allocating the related costs such as material, labor, and overhead against the relevant job
• Ensuring that all costs are invoiced to the customer
• Producing reports with details of costs and revenues by job as well as the estimated versus the actual cost reports
• Analysis of various reports to look for the variances that can be used to bid more accurately for future jobs
• Identifying the most- and -least profitable areas of your business by using job costing reports

Transition services:Our skilled consultants have assisted multiple clients in transitioning from one software application to another. We perform end-to-end exercises, including the exporting all the critical reports using data templates, including the transaction list, balance sheet, profit and loss account, reconciliation reports, supplier and customer details. The projects that we have completed include the movement of data between the following software applications:

• QuickBooks Enterprise / QuickBooks online
• QuickBooks / Zoho Books
• QuickBooks / Xero
• Manual to automated software
• Clear Books / QuickBooks
• Wave / QuickBooks
• Sage / Xero
• Zoho Books / Xero
• Myob AccountRight / Xero
• NetSuite /QuickBooks