At MAS, we provide offshore Online Bookkeeping Services in USA and UK for businesses and CPA firms operating across the world, including clients from USA, UK, Australia and Canada. We have the resources to work on the accounting platform of your choice. Over time our team has worked on different systems such as
What do you understand by international bookkeeping?
International accounting or bookkeeping is a speciality within the entire discipline that is focused on using accounting standards that are as relevant when balancing the books of accounts of a company overseas.
What services do we offer under bookkeeping and accounting?
Bookkeeping is an essential component of any occupation, a small, medium, or large business. At MAS, we offer:
- Initial setup
- Recording of financial statements
- Accounts payable or accounts receivable management
- Preparation of financials
- Inventory management
- Job costing
- Transition services
What is financial and analytical support, and what services do you offer under financial and analytical support?
Financial and analytical support includes integrating and analyzing information saved in financial systems and other critical information sources across the organization. At MAS, we use methods such as statistical analysis to define the organization’s purpose, performance, and accountability information. In other words, we use data analytics to tell the organization’s story and the areas that can be refined. We look at features like:
- The assessment of whether the entity’s current assets and investments are the best use of the entity’s excess working capital.
- The ratio analysis calculates ratios such as gross turnover, total cost, gross margin, net profit, the rate of expenses versus turnover, and the income versus gross income ratio.
- Regulating which products or product lines generate the most significant portion of the organization’s net earnings.
- The devising of internal reports for executive leadership to support their decision making.
- Break-even analysis to determine what you need to sell, monthly or annually, to cover your costs of doing business, in other words, your break-even point.
- Variance analysis to determine overall over-or under-performance for a particular reporting period. For each item, we assess its favorability by comparing actual costs versus standard costs.
- Measuring KPIs (key performance indicators) to exhibit how successfully the business achieves its key business objectives.
Why is scanning and folder management necessary in an organization?
To help businesses save time and improve workflow efficiency, installing a file management system is advisable. At MAS, we assist with selecting and implementing a file management system to ensure that your business’s workflow and output efficiencies increase substantially. We can assist in the following activities:
- Creating customer and category folders
- Renaming the scanned files using industry standards and best-practice naming conventions
- Managing all business documents such as scans, bills, invoices in appropriate folders
- Maintaining the electronic document repository
Why planning, budgeting & forecasting is necessary for an organization?
Profit is the primary measure of a company’s success. Usually, company profit does not just happen. It has to be managed. Therefore, the firm’s profitability entirely depends on the extent to which company management follows proper planning, effective coordination, and dynamic control protocols. This requires that management budget or plan for the future, including financial and physical requirements, is essential to maintaining company productivity and profitability. When companies embrace data and analytics in conjunction with well-established planning and forecasting best practices, they enhance strategic decision-making and be rewarded with more accurate plans and more timely forecasts. Overall, these tools and techniques can save time, reduce errors, promote collaboration and foster a more disciplined management culture that delivers a true competitive advantage.
What services do we offer under planning, budgeting & forecasting?
At MAS, we assist you with the following services:
- Preparing sales projections
- Preparing cash flow projections
- Creation of financial/administrative budgets
- Creation of sales and marketing budgets
- Preparation of projected financials
- Conceptualizing profit first as a business approach
- Developing and applying strategic plans and cost-saving techniques
- Executing rolling forecasts and budgets
What services do we offer under international bookkeeping?
At MAS, we provide offshore bookkeeping services for businesses and CPA firms operating worldwide, including clients from USA, UK, Australia and Canada. We have the resources to work on the accounting platform of your choice. Over time our team has worked on different systems such as QuickBooks, Xero, Zoho, Wave and Freshbooks. We are also well versed with softwares like Bill.com, TaxAct, Turbotax, Intuit, Paychex, Gusto, ADP, etc. Our skilled consultants act as your virtual accounting team, giving you the flexibility of not hiring additional full-time staff; thereby, reducing fixed monthly costs. Part of our offering is to allow you to scale your virtual accounting team when required.