Monday, 27 June 2016

Accounts Outsourcing For Your Small Business

Should startups hire accounts outsourcing partners for managing their accounts?

In order to run a successful business, managing your accounts properly is crucial. But, when starting a small business, many people think hiring an Accounts outsourcing firm would eat into their megre profits. But, if small scale businesses or startups get help to manage their Accounts outsourcing could help you scale up your business.

This is so because when you have a standard Accounting services standard in place, you get a good idea about the liquidity of your business as well as keep an eye on the fund flow. You would also need the data while filing tax returns as well as any legal purpose. A professionally maintained accounts statements can also get you better investments as well as loan sanctions.

You will also be able to keep a strict eye on your business by maintaining your books of accounts. You can take business decisions looking at your accounting statements. Almost all startups and SMEs maintain their accounts in the forms of ledgers. These ledgers tells how much incomes and expenditures are done by the firm. Since the scale of business is comparatively low, almost all major analysis can be carried out when three statements are prepared properly: the cash flow statement, the p&l statement and the balance sheet.

Now if you have studied commerce maintaining these books would be easy for you. But, for others hiring an outsourcing partner would be your best bet. When you do so you not only get help maintain accounts, you can also take their expert advice for Financial business decision.

Sunday, 26 June 2016

Can Bookkeeping Services help Small Scale Businesses?

Reasons Small Scale Businesses Opt For Bookkeeping Services

Since the main function of Bookkeeping services is to keep records of the finances of business, its incomes and expenses, a business of any size would need to practice bookkeeping. Bookkeepers would help the business owners understand where they stand in terms of finances as well as what they should do in order to increase profitability.

In order to be successful entrepreneurs, it is important to keep a tight reign on the business finances and transactions. One needs to constantly analyse the reports as well as prepare and follow the budgets.

For any business, there are three most important statements, Cash flow statement (which shows the movement of cash and bank balance in the business), Income Statement (which shows the incomes and expenditures of the business) and the Balance Sheet (which shows the assets and liability of the business). If these three statements are prepared and analysed properly, an entrepreneur will be able to take the best financial decisions for his/her business. And this is more important for small scale business owners than the more established businesses.

We offer end to end business solution which includes but is not limited to

Records segregation and maintenance,

Accounting software transition services,

Data entry into excel sheets,

Bookkeeping and Journal entries,

Accounts Finalization,

Business reporting – Monthly or annual reporting,

Accounts receivable management,

Accounts payable management,

Customer support management,

BAS lodgement,

Taxation services.

So, when a small scale business owner hires a Outsourcing bookkeeping service, he/she can be said to have received help from experienced professional in order to get guidance as to how to grow their business.

Thursday, 23 June 2016

Business Process Re-engineering in Accounts Outsourcing

Outsource your bookkeeping services to Rayvat Accounting is similar to business process engineering model where there is a complete shift in the manner of how the business is done.

In Business process Re-engineering, there is a fresh pondering on the present business and how the process has been done of late.

"Business Process Re-engineering (BPR) is basically rethinking and radically redesigning an organization’s existing resources.

BPR is all about redesigning of the workflow and methodology to a more better model which can decrease cost as well as increase in overall efficiency of the business process. The ultimate purpose of reengineering is to optimize the overall performance of business and generate superlative profits for the business.
                       Business Process Re-engineering in Accounts Outsourcing

Moving to Outsourcing model can be beneficial to your business if it has been implemented in planned manner.Are you planning to Outsourcing your books and still thinking of when to start on Outsourcing model?

Well we recommend to move on to Outsourcing with start of new financial year. This would have a benefit of easy and smooth transition to outsourcing carrying with a switch in the work methodology.

However we recommend early transition which would give us time to settle the process and make it worthy for you.

Call us to know more how we can redesign your Accounts outsourcing and help you to excel in your business.

Tuesday, 21 June 2016

Transition of business to outsourcing model

Once you have decided to outsource your bookkeeping and Accounting the shifting to outsourcing model from traditional model to outsourcing model has to be done in phased manner. This would ensure maximum benefits from outsourcing model.

                                         Transition of business to outsourcing model
 Transition to outsourcing model is done by specialized transition team who would plan the transition and implement the same in phased manner.

Generally transition takes around 90 to 180 days to complete and achieve all the benefits of Accounts Outsourcing. Here are some of the points which would help in effective transition to outsourcing model:

Communication: To communicate with the End client and knowing the requirements of the client.

Communication before transition:
Rayvat Accounting team shall explain the transition methodology and give the required information to the customers to make them ready for transition. It is more focused on convincing the clients for smooth transition to new systems and process. It effectively communicates need for change.

Post transition Communication:
Post transition communication seeks to get input/feedback from the client and devise the strategies to help the client to smoothly adopt the new system.

A checklist should be developed to help in conducting client service interviews. The findings of client service interview would be well documented in order to ensure that we completely understand the client requirements and cater them according to their needs.

Additional Service Benefits Explaining the client of the additional services Rayvat Accounting shall provide in addition to the services which the customer used to get previously. For e.g., Additional reports which we can generate for the clients which can be used by client to have a better decision about his business.

Training: Proper training would be given to the end client to help the client to get accustom to the outsourcing methodology.

Service Level Agreements: Rayvat Accounting would sign a Service Level Agreement with the end client to ensure that the roles and responsibility of the client and Rayvat Accounting are well defined. It seeks to have all the client expectations in Service Level Agreements.

Take Over: The team would take over the work from the staff of previous accountant in phased manner and handle it over to the Indian Transition team.

Feedback: Constant feedback would be taken from the client to ensure that the client is satisfied with the services.

Ticket raising and Support: Transition team can raise a ticket and support question for the team in United States on behalf of the client.

Quality Control: The information provided to the client would be routed through the transition team in united states providing a two way review of the information sent to the client.

Audit: They shall perform a regular check the ledgers to ensure that the accounts are error free.

You can view more about our outsourcing methodology.We at Rayvat Accounting Specialize in Accounting and Bookkeeping leveraging on cost difference between India and developed countries like Australia and United States.

Wednesday, 15 June 2016

Why Accounts Outsourcing to India?

There is a recent buzz in F&A sector to outsource their complete Accounts Outsourcing departments to professional Outsourcing Firms.

A Research report of “Global Services 100 Study” states that More than 55 percent of F&A contracts offshore F&A services to India. Of more than 20 leading F&A service providers tracked by Everest, 18 have delivery presence in India with close to 80 delivery centers when taken together. In recent years India has emerged as a buyer geography for F&A.

                   Total F&A Market in India is $12bn as per research by “Hfs Research group”

  • There is a $2.6 bn market for engagements having a contract value of less than $25 mn as per the estimate of Hfs Research
  • There is a $7.96 bn market for engagements having a contract value of more than $25 mn as per the estimate of Hfs Research.

F&A Market in India has developed in recent past and there are many developed players in India who compose
of The Accounts Outsourcing Market in India is yet to grow in India due to developing confidence in India.

As per a report India is the most preferred destination for FAO Outsourcing.

The main reasons for development of FAO markets in India are :
  • Labour Arbitrage due to difference in cost of the people having same skillset.
  • Availability of Skilled workforce in India and shortage of same in developed nations.
  • Availability of English speaking work force in India Shift of organizational processes from manual to technology oriented.
  • Availability of infrastructure, technology and high speed connectivity in developing nations.
  • Implementation of Information technology laws in developing countries which prevent data misuse. Information Technology Act, 2000 in India helps in protecting the data in virtual environment.
  • Time lag between eastern and western countries helps in updating data in almost half a day’s time. It helps in completing work in time deadline. For eg. Audit work or Deloitte US is transferred back and forth between Deloitte US and India helping in getting work done in tight deadlines.
  • Reporting norms levelised at global level. (For eg. Emergence of IFRS and XBRL standards).

We at Rayvat Accounting Specialize in Accounting and Bookkeeping leveraging on cost difference between India and developed countries like Australia and United States.

Monday, 13 June 2016

Outsourcing Accounting for Small Business

Outsourcing as a business strategy is considered mandatory for any business operation. The concept of accounts outsourcing is generally used for small and large business operations. Account Outsourcing is documented as the tool of effective management.

The question is regarding the need of outsource accounting services can be addressed in following manner. Outsourcing helps the companies to manage the work in well mannered. Instead of hiring the staff for the accounting firm in the company itself, it manage the account section through outsourcing is cheaper.

Companies can get more benefit with less cost. By Account Outsourcing functions for non core business, the organization can give the better client service, create the best product and do its job in well mannered. In this way, Outsourcing of Accounting is proved as life saver because it reduces the risk of creating the problem in accounting department in the company so the chances of income tax red would be less.

It can improve the quality of the work in the business. The burden on the accounting firm decreases so that they can manage their work in peak season. Firm can create the long lasting sustainable business. Accounting records are handled by authorized persons who help in accountability of the same.

There are many key benefits the Accounts outsourcing has and it is mentioned as below:

1 The focus on the core business can increase
2 The customers can get more satisfaction by the service
3 The speed would be increased
4 In the lower rates, the organization can get latest and best technology in accounting
5 Grow the business by beating the competition in the market

In Rayvat Account outsourcing, we provide you the accountant with full time duty as well as customized solutions. By connecting Rayvat outsourcing accounting, you can definitely get more and more benefits and it held you to reach your company at higher peak.

In the conclusion we can say that Prevention is always better than cure so to avoid the risk creating in accounting firm, the company should hire the outsourcing accounting service.

Thursday, 9 June 2016

Globalize your Australian Bookkeeping Business With Rayvat Accounting

Rayvat Accounting specializes in providing the best in class Accounting Outsourcing services, specifically designed for each Australian business. A large business firm or a small one, Rayvat Accounting accommodates services required in regard to Accounting for Australian Businesses of all forms. Since no singular business is same as the other one, similarly no Australian business has the same processing or work methodology as the other one. Rayvat Australian Accounting experts strive to deliver the best of Australian Accounting to our clients with utmost diligence.

Rayvat Accounting has developed a loyal cliental in many cities across Australia with continued growth of adding new Australian Businesses to its list in the past decade. Serving Australian Businesses with its sincere work, Rayvat has been dealing with Australian businesses in Sydney, Brisbane, Melbourne, Perth and many more.

Rayvat Accounting boasts a brigade of highly qualified Chartered Accountants who specialize in Accounting for Australian Businesses. We provide our services not only to Australian Businesses, but also stock brokers, lawyers, bookkeepers, tax agents and to financial planning firms also.

Rayvat Accounting satisfies all the requirements of all kinds of Australian Businesses. The wide range of Taxation, financial and accounting services provided by RAYVAT Accounting for Australian Businesses are as follows –
  • Rayvat Accounting provides SMSF (Self Managed Superannuation Fund) Accounting with the assistance of SMSF trained accountants. All the SMSF Accounting for the Australian Businesses is conducted by software packages such as BGL Simplefund, Class Super, Handi Super and other optimized tools. We also provide SMSF Audits created by Auditors who specialize in SMSF Auditing for Australian Businesses.
  • Rayvat Accounting excels in all entry types of Accounting and tax returns for all Australian Businesses, may it be Individuals, Partnerships, Companies or Trusts. All the complicated number crunching and data entry is based on popular accounting softwares such as Handisoft, Software Assistant, MYOB AE Accounts and many others.
  • Rayvat Accounting specializes in providing Bookkeeping services to Australian Businesses by using highly acknowledged softwares such as XERO and SAASU.
  • Providing the Australian Businesses with complete cloud accounting solutions is what Rayvat Accounting is all about. We provide organized online based reports of online taxation and accounting through XERO, SAASU and QuickBooks online.

Rayvat Accounting provides Australian Businesses an opportunity to outsource their expensive and time consuming accounting and Bookkeeping tasks, and focus on their business completely.

To know more about how Rayvat Accounting can transform your business, contact our Support team today.

Friday, 3 June 2016

Redefining XERO Bookkeeping with Rayvat XERO Bookkeeping Experts

Rayvat XERO Bookkeeping Services: your preferred XERO Partner

XERO is leading Bookkeeping software used by many businesses worldwide and with Rayvat Bookkeeping expert; XERO Bookkeeping has never been so easy. Rayvat XERO Bookkeeping services provides the best in class XERO Bookkeeping services, but don’t take our word for it; Rayvat is a globally XERO Certified Partner. Rayvat XERO Bookkeeping Services comprises of XERO Bookkeeping experts who help the business to understand and implement all aspects of XERO Bookkeeping with ease.

XERO Bookkeeping experts at Rayvat XERO Bookkeeping Services assist you throughout the transition of settling in your business to XERO Bookkeeping and thereafter too. Rayvat XERO Bookkeeping services, a XERO certified partner has been winning the hearts of many business owners throughout the Australian subcontinent and worldwide. Being a XERO certified partner, Rayvat XERO Bookkeeping services stresses towards perfection and every single XERO Bookkeeping expert at Rayvat XERO Bookkeeping services is provided the required training to deal with the financial accounts of businesses.

With the help of XERO Bookkeeping software’s innovative cloud XERO Bookkeeping services, Xero Bookkeeping experts are able to provide businesses complete up to date details of their financial accounts on the go. From any part of the world at any given time, business owners can access their financial accounts with the help of XERO certified partner, Rayvat XERO Bookkeeping services. Although many businesses tend to avoid cloud bookkeeping services due to the risk of data infringement, Rayvat XERO Bookkeeping services takes certain high security measures to ensure that the client’s private financial accounts are safe in the hands of XERO Bookkeeping experts.
  • Rayvat XERO certified partner ensures an iron dome secure transition of the client’s old accounts into the XERO Bookkeeping software.
  • The XERO Bookkeeping expert at XERO certified partner Rayvat are regularly screened and are under contract to maintain anonymity regarding the financial accounts of all our XERO Bookkeeping clients.
  • The client financial data is stored on secure remote servers using XERO Bookkeeping to ensure no theft of data occurs.

Not only does XERO certified partner Rayvat provide the best XERO bookkeeping experts services, we also assist our clients throughout the XERO Bookkeeping process. Rayvat XERO Bookkeeping experts also assist in providing the businesses with on hand training of the XERO Bookkeeping software. Every business is uniquely different from the other; hence Rayvat XERO Bookkeeping experts aim towards the provision of a personalized user experience while handling the financial accounts.

Rayvat XERO Bookkeeping services a proud XERO certified partner that has established a strong and loyal base of cliental in XERO Bookkeeping all over the world, and continues to do so. So for all your XERO Bookkeeping needs, Contacts XERO Bookkeeping expert services today!