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Outsourcing finance and accounting management and planning involves a range of activities, including bookkeeping, accounting, taxation, and financial planning and analysis. In recent years, outsourcing these finance and accounting needs has become a popular way for companies to improve efficiency and accuracy. As businesses face pressure to increase performance and reduce costs, they are increasingly turning to external experts who cost less than a full-time in-house team.

By outsourcing critical bookkeeping tasks to us, you can focus on higher-income-generating accounting and taxation tasks. We provide ongoing feedback to help you gain better insights into your financial performance and make more informed decisions about managing your business.

Bookkeeping Services

Bookkeeping involves recording the day-to-day transactions of a business, while accounting is the process of recording, classifying, summarizing, reporting, analyzing, and interpreting the financial information of a business.

Our team of professionals is skilled in using Indian and international accounting software such as Tally ERP9, ZOHO, QuickBooks, Xero, NetSuite, etc. and can handle all your bookkeeping and accounting needs, from basic accounts payable and accounts receivable entry to more complex tasks such as those typically handled by the Chief Financial Officer (CFO). We also ensure that accounts are maintained in compliance with domestic regulations and international reporting standards, and we review and analyze accounts for potential issues, alerting clients to any necessary remedial action.

By outsourcing your bookkeeping to us, you can save costs and free up key in-house employees to focus on higher-revenue-generating activities, such as business decision-making, which can improve the profitability of your business.

Accounts Payable Management Outsourcing

Accounts payable management has evolved from a process focused on handling transactions to a strategic business function that optimizes working capital, saves money for the business, and improves supplier relationships.

TaxCertify can help companies improve their accounts payable processes by optimizing working capital and operating costs, increasing control and transparency, standardizing processes to increase efficiency, and delivering cost savings. Our services include invoice receipt, scanning and processing, exception management, and payment reconciliation.

Accounts Receivable Management Outsourcing

Outsourcing accounts receivable management allows organizations to redirect their valuable manpower and resources towards core accounting tasks instead of spending time on collection activities. Our expertise in implementing best practices for optimizing the order-to-cash cycle helps clients quickly improve their cash flows and working capital position.

TaxCertify offers end-to-end accounts receivable management throughout the invoice life cycle, improving cash flows, reducing overdue receivables, and identifying revenue leakage. This helps to close any gaps in the process.

Outsourced Tax Preparation

Tax Preparation Services for CPA Firms, Authorised Tax Agents & SMEs

We offer outsourced tax preparation services to CPAs, Tax Firms and Business firms across the USA. Our outsourcing services can assist you in tax season by keeping your accounts, records, reports as per taxation legislation and compliances. 

TaxCertify’s bespoke accounting and taxation outsourcing services will assist you in year-round and year-end tax preparation services. TaxCertify aids CPA firms in growth as our taxation outsourcing services effectively reduces pressure from your valuable inhouse resources and CPA firms can then use these inhouse resources to onboard new higher revenue generating clients and provide them more value added services.

Why use our Tax Preparation outsourcing Services

We are your extended team of tax preparers. We make the complicated job of tax calculation, preparation, and filing easier for you with 70% lower investment and quick turnaround time. Our tax preparation outsourcing services help in alleviating staffing constraints and tax season anxiety with ease and professional services. 

  1. Outsourced tax preparation to TaxCertify will help achieve employee cost arbitrage and will help in driving down tensity and complexity.
  2. Outsource a part or complete taxation job to us and anytime scale up to maximize your benefits with our simplified models and short turnaround time.
  3. Our tax outsourcing services include tax calculation, return preparation, forms and certificate management, review and filing to CPAs, Accounting Firms, tax service provider companies, business firms.
  4. We have expertise in all major tax preparation solutions to help you choose the environment you like us to work in for simplified supervision and smooth transition. 
Our Tax Preparation Outsourcing Process includes the following:
  1. Receiving documents and financial statements via secured channel and identifying the missing information.
  2. Verify the correctness and completeness of information and enquire additional information if required. We also overview the financial statements to identify errors if any so that changes can be made accordingly at an early stage.
  3. Feeding the required data into software as per the tax legislation.
  4. Submit the draft return for approval
  5. Receiving the confirmation and filing of return with the revenue authority
We provide CPA tax preparation outsourcing services for the following assessee’s:
  1. Individual: Form 1040, Form 1040NR, Form 1040A and Form 1040EZ
  2. Partnership: Form No. 1065 
  3. Corporation: Form 1120, Form 1120A and Form 1120S (for statutory corporations)
  4. NGO: Form 990
  5. Fiduciaries: Form 1041

Audit Support Service

Our team of qualified & experienced accounting professionals ensures regular communication with concerned people to ensure timely delivery of services. We prepare audit working files and help accounting firms remove errors, improving the overall audit efficiency and increase profitability.  

Our audit support outsourcing services include:

  1. Reviewing and reconciling audit data and financial statements.
  2. Reporting errors and making necessary changes.
  3. Communicating with clients to obtain additional information and resolve audit queries.
  4. Following predefined checklists and completing all items on the list.
  5. Ensuring proper disclosures based on previous year’s requirements and any additional requirements.
  6. Submitting updated working paper files that reflect previous year’s papers and highlighting proposed changes to those papers.

Payroll Outsourcing

Payroll is a crucial document that contains information about an organization’s employees, such as headcount, attendance, leaves, employee compensation, social security contributions, and withholding tax. It is used by organizations and companies for daily staff management activities. However, payroll mistakes can easily occur, and if an employee’s salary is not paid accurately or on time, it can negatively impact their morale and ultimately affect the productivity of the business. It is important to ensure that payroll is managed accurately and efficiently.

A payroll system performs the following functions:
  1. It contains a company’s remuneration strategy, including bonuses, leaves, and deductions.
  2. It provides a detailed payslip with a breakdown of salary or wages.
  3. It tracks leaves taken and unused leaves.
  4. It handles the full and final settlement of employees.
The steps involved in payroll processing are:
  1. Defining payroll policies and optimizing CTC structures.
  2. Collecting inputs from the organization.
  3. Validating the data and updating it in the software.
  4. Generating payroll reports and obtaining management approvals.
  5. Releasing payouts.
  6. Distributing payslips.
  7. Performing payroll accounting.
Benefits of Payroll Outsourcing
  1. Outsourcing payroll allows employers to focus on growing and developing their business.
  2. Payroll software helps reduce the risk of errors.
  3. Payroll outsourcing ensures timely processing and secure handling of data.
  4. Employees can view their pay information, track their hours, and manage their withholdings through a self-service system.
  5. Outsourcing payroll is an effective way to save on costs.

Financial Statement Preparation

Financial statements are imperative to quickly gauge how well the business is performing and aids in both inter firm, Intra firm and Year on Year comparative analysis. They are important for both large multinational companies and small businesses. An audit, which is typically a financial statement audit, is an objective examination and evaluation of an organization’s financial statements to ensure that they accurately represent the transactions they claim to represent.

We offer a customized and scalable outsourcing approach to support the improvement of your financial statement preparation process. We apply strict quality measures in line with generally accepted accounting principles to ensure the error-free preparation of financial statements.

Our financial statement preparation outsourcing services include:

  1. Understanding the current financial statement preparation process, nature of the business, and financial statement disclosure requirements.
  2. Preparing requirements statements based on a preliminary analysis of the financial statement preparation process.
  3. Updating financial statement preparation templates to meet new accounting standards, presentation, and disclosure requirements.
  4. Compiling financial statements according to GAAP and accounting standards.
  5. Providing draft financial statements, supporting workpapers, and conducting discussions for insights.
  6. Providing other accounting services such as initial setup, training, or development of the accounting system. Establishing a cloud-based financial accounting process can prepare clients for the future and ensure the accurate and timely compilation of financial statements.
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