Accounts

Accounting is an Art. We carry the complete responsibility of maintaining your accounts right from updating books to preparation of financials to filling the tax returns.

Offshoreoffice believes in understanding customers’ exact needs and developing a customized solution that best suits their diverse business needs. We cater to the accounting needs of global clients by offering a comprehensive range of services, which includes –

Accounting Setup Services

For a new entity, we may have to prepare the chart of accounts, ledgers accounts and setting up accounting software in order to update the accounting books as business going on. Be it starting it from scratch or transition of books of account from to another platform. Offshore office will take entire responsibility of suggesting the suitable accounting software to complete transition to till date.

General Accounting and Bookkeeping Services

We prepare and maintain your day to day bookkeeping and monthly or quarterly accounts, where we act as your accounting bookkeeper. We use popular online Bookkeeping and Accounting Software platforms like (Sage 50 US), Intuit, Nimble Accounting etc. to ensure data correctness and faster results.

Accounting activities includes industry specific accounting, Accounts Reconciliation Services Bank & Credit Reconciliation Services Cash Flow Management Services Customer Order Processing Services Invoice Processing Services Project Accounting Services, Budgeting and planning, Virtual Accountant Services Financial Analysis Services Fixed Assets Management, MIS Reporting activities

Preparation of Tax Returns

Preparation of periodic tax, sales tax, and other returns. We also facilitate everything from tax processing and planning to filing, including tax returns preparation, up-to-date sales tax, quarterly returns, and multiple filings based on State, County or Cities as per the applicable law and procedures.

Accounts Receivable and Accounts payable are like two pans of balanced scale for any company. Managing Account receivables and Account payables on your behalf is one more time consuming activity we does it for you on timely and systematic manner. The process we follow, will save you time, keep you updated and enjoy the full control over AR and AP. In this area we follow below activities to mention

1. Setting up and maintaining vendor and client master.
2. Documentation of agreements, MOU, MOA
3. Coordination with them for getting the necessary documents in the beginning and ongoing
4. Raising Invoices and accounting bills
5. Payment follow ups and answering queries
6. Realisation and releasing the payments
7. Debtor and Creditors account reconciliations and balance confirmations

The way we moving are very important for any business. Our professionals will discover you the way in a different prospective to analyse the business and identify the scope for further development. MIS reports exhibits the checklists, revenue recognition, expense analyses, Volume expansions and various customisable reports to meet the requirement of decision makers. It also includes check list of various activities and their present status with remarks.

Though MIS reporting varies from Industry to industry, management to management and time to time, some of the common and periodical like Weekly, Monthly and Quarterly MIS reports we prepare and share are listed as below:

Weekly: Checklists and status of weekly activities. Target setting for the present week and next week. Basically it will be agenda for Monday Morning weekly meeting.

Monthly: Comparison of sales, business leads and conversions with respect last month. Analysing the monthly performance with respect to budgeted quarterly, half yearly and yearly.

We undertake the Tax filling responsibilities of Companies, corporation, LLPs and individuals.

We thoroughly study and gather all the information by allotting it specific tax managers. We have dedicated team of experts who are working region wise as they have extensive knowledge on updated rules, forms and recent tax reforms.