Accounts receivable

• Invoicing to customer as per terms of agreement with customers

• Store and arrange customer agreements into their specific folders

• Booking of invoices into accounting system

• Periodic reconciliation of total invoices as accounting system and total booking as per CRM and flag any discrepancies to Management/CFO/Sales head

• Booking of payments against respective customers

• Periodic open AR reports to Management/CFO/Sales team

Account payable

• Reconcile vendor bills/invoices with vendor agreement/terms

• Store and arrange vendor invoices into their specific folders

• Booking of vendor bills into accounting system

• Booking of payments against respective vendors

• Periodic open AP reports to Management/CFO/Sales team

Month-end procedures

• Bank & Credit Card Reconciliation

  Comparing a company's transactions with the bank's records through reconciliation prevents errors and fraud, ensuring accurate financial records with skilled professionals and efficient processes.

• Necessary Monthly Accruals

  Monthly accruals are necessary for accurate financial reporting and involve estimating and recording expenses or revenues that have been earned or incurred but not yet billed or paid.

• Monthly GAAP entries
  To ensure compliance with Generally Accepted Accounting Principles (GAAP), monthly GAAP entries are necessary for accurate financial reporting, which impact the Income Statement, Balance Sheet, and Cash Flow, recording adjusting transactions such as depreciation, accruals, and prepayments.

• Allocation of Cost amongst members/partners as per the membership agreement 

  Allocation of costs among members/partners according to the membership agreement is essential for accurate financial reporting and requires proper documentation and calculation by an accounting firm.

• Sales Tax Report

  Sales tax reporting is essential for businesses to comply with tax laws, involves tracking and reporting sales taxes collected and paid to government agencies.

• Locking of Books of Account once the month is closed.

  Locking the books of account after closing each month is a necessary step for accurate financial reporting, preventing unauthorized changes and ensuring data integrity.

Yearly procedures

• Budgeting and forecasting

Budgeting and forecasting involves creating a detailed financial plan with revenue projections, expense planning, and resource allocation. It helps set goals, make informed decisions, and ensure financial stability and profitability.

• Budget vs actual monitoring

Budget vs actual monitoring involves comparing planned budgets with actual financial performance to identify variances and optimize financial outcomes through analysis and corrective actions.

• Tax reporting

Tax reporting involves preparing accurate and compliant tax returns by gathering and analyzing financial data, applying tax rules, and providing thorough documentation.

• Preparing Financials for Fund Raising (Seed, Series A, Series B)

• Annual and 3 year budget

• Financial Model

• Actual vs Budget Reporting

• Cash Flow Management