Accounting And Book Keeping

Finance is the blood and backbone of business, they say. If so, Accounting is the language of business. How a business functions is expressed through Accounting.

A well-maintained system of accounts ensures fair & accurate financial statements which support better decision making. Professional bodies across the globe have developed standards and guidelines to ensure that the Accounts satisfy the qualities of comparability, reliability, truth, and fairness.

In the present day, outsourced accounting is gaining popularity as businesses are finding it difficult to maintain an in-house accountant due to the costs associated, lack of skills, etc. This coupled with other challenges have paved the way for professional accountants to step into this domain. We at MBM offer outsourced accounting & other auxiliary services by significantly reducing administrative burdens and costs. By associating with us, for accounting and bookkeeping, we help you gain both operational efficiency and advisory capabilities that will leverage your business to the next level.

Why should you outsource accounting

Switching accounts to us

Switching to us is painless and straight forward task.

We take care of the whole process for you with little to no effort required on your behalf.

Our accounting services will ensure to enhance the efficiency in terms of time and money and at the same time be highly effective.

Your own expert accountant

When you outsource your accounting function to us, you will receive your very own dedicated accountant, who will use your system with utmost confidentiality. Our fully qualified, experienced and friendly team will always be available to help you throughout the period for all your financial queries.
Benefitting from many years' experience of the team members working with small to large businesses and with up-to-date knowledge on issues, we offer unlimited help and assistance for all financial and tax matters including VAT.
Our accountants maintain professional independence but cater to management needs
Month-end income statement, balance sheet, bank reconciliation and cash reconciliation and cash flow statements

Benefits of outsourced accounting

Accurate financial transactions input and output in compliance with relevant IFRS or GAAP principles
Design chart of accounts in relevance to the business needs. We at MBM understand that different business verticals require the differing design of chart of accounts that can produce segmental relevant financial information.
Accurate and comprehensive accounting reporting
Proper accounting methodologies and standards.
Cost saving: No fixed salary, gratuity, visa costs, etc.

“An outsourced finance department can significantly reduce your administrative burden and finance staff costs, which are the most common reasons, organizations, choose to outsource the business processes. This enables to improve company focus, assure on continuity of service and increase flexibility to respond with growing business requirements.
We at MBM ensure you that by outsourcing your Accounting and book keeping to MBM, you will be incorporating the best practices in the industry. Our expert professionals help you gain both operational efficiency and advisory capabilities that will leverage your business to the next level”.

Our Services

Bookkeeping services

Every individual performs economic activity. Such economic activities are performed through transactions and events. Every person performing an economic activity will want to keep records of all transactions and events and to have adequate information about the economic activity as an aid to decision making.

Book keeping discipline has been developed to serve the purpose of measuring economic activities involving inflow and outflow of economic resources, which helps to develop useful information for decision – making process.

We at MBM, incorporate the following in rendering book keeping services:

Assistance in recording financial transactions of the organization
Periodic reconciliation various ledger accounts, bank accounts etc.
Prepare a monthly list of debtors and creditors
Prepare monthly trial balance
Prepare analysis of expenses, and other related schedules on a monthly basis
Prepare monthly depreciation, prepaid expenses allocation and monthly salary schedule
Prepare monthly list of PDC issued and received
Review of transactions for each tax period

We at MBM provide the following Accounting and Bookkeeping services:

Cloud based accounting and onsite accounting:

In the present scenario where accessibility to information from anywhere is the need of the hour, we undertake Accounting in any specialized software like Zohobooks, Tally, Quickbooks, Xero, Sage and so on.

We also cater to the needs of our clients who wish our team to be working on their accounting platform by deploying our team members exclusively for Accounting needs of such clients.

Our service partners

Deputation/ Secondment of Accountant for a temporary period

We second our team members for Accounting services outsourced for a fixed temporary period.

Inventory checking/ physical verification of Fixed Assets

Our team assists the management in complying with the requirements of physical verification of inventory and Fixed Assets.

ACCOUNTING SOFTWARE SOLUTIONS

This is the age of customization. Accepting something generic is not an option anymore. ‘Tailored’ solutions, readily made available at the least time – that is the need of the hour. Each and every small need of business is taken care of by the leading Accounting software providers where there are dedicated segments or various permutations and combinations of solutions under basic, mid end and high end versions of Accounting software.

When it comes to storage of data, physical storage spaces no longer make much meaning today as virtually infinity is the aim towards which cloud computing is marching forward. The alternate world in clouds has developed itself into a fully operational storage and computing space with its own operational and security protocols. It has literally developed into a virtual co-space working environment where spaces are bought, upgraded compartmentalized on a need-based access methodology.

Combining the needs of customization and the opportunities thrown by cloud environment, have emerged competitive accounting software which provide cost effective services. Enterprise Resource Planning software or ERP’s as they are called, get developed day by day in length and breadth according to and ahead of the needs of business. Immense are the possibilities that they offer in managing almost fool proof and secure Accounting system of an entity. The world that it opens up before the conventional book keeping system is dynamic. Where business houses are a conglomeration of individuals from various cultures making it a miniature model of the world with its own guiding values, these software solutions equip themselves in acting as the underlying base line on the practical front connecting all dots together without gap. Continuous monitoring and support to keep the system live and evolving at even every fraction of second is the basic requirement (without exaggeration).

Same applies to entities of any scale where various departments function not like islands but connected compartments. With multi-faceted enterprises competing inch by inch, highly accommodative Accounting software is a necessity where complexity is broken down and presented with utmost simplicity.

Our expert team well versed with the Accounting needs of business coupled with knowledge in technology provide Accounting Software solutions according to your needs. We assist our clients in implementation and support of various Accounting software to suit the needs of the organization.

Technically, be it the

Big bang method where users migrate to the new system on a specific go live date or
Phased roll out method where the business moves on to the new system on a step by step process – either module by module or function by function or unit by unit
Parallel adoption – Where the business keeps the existing system live for a specified time from the adoption of new ERP system or
Hybrid approach – where the best combination of all the above methods is adopted. Eg. Key functions/ complex functions are transferred to ERP while others are retained in the old system.

Our team works with you hand in hand in the implementation process and periodic support. We at MBM offer services alike where the implementation of the ERP is

Cloud based – where the server which is the implementation site is of the provider and the access rights are obtained by the business entity or
In house – where the implementation of the ERP is in the systems and server of the entity
Hybrid.

We also undertake maintenance of Accounts in various Accounting platforms according to your specialized needs providing the advantages of Enhanced performance in terms of

Business reporting
Inventory management
Cash flow assessment
Data security
Supply chain management
Receivables and Payables management and above all,
Customer service.
Confidentiality and professionalism are the bases on which we undertake your Accounting assignments.

RECORD RECONSTRUCTION / BACKLOG ACCOUNTING

The term Backlog is often understood in a negative sense in common parlance. Yes, it refers to some spill overs of any assignment which has not met the given timelines. But it can also be a pointer of potential additional sales or orders that can be met if additional resources are deployed on the same.

We at MBM come to your assistance when you have backlogs of any Accounting assignment or records need to be recreated for past legitimate transactions where historic Accounting documents are not systematically available due to an inefficient documentation system in place.

Also, we render advisory services where proper planning and forecasts of sales and HR requirements can avoid potential backlogs in the operations.

COMPILATION SERVICES

Financial information is collected, classified, and summarized in a compilation engagement. Unlike Accounting and bookkeeping, it is not raw data which needs to be managed, but processed information which needs to be put into a framework. We at MBM, go by the standards set up by ISRS 4410 on Related Services.

We work with our clients to understand the accounting principles and general working environment of the entity to tailor our responses accordingly.

Do you want to work with us?

Developing a plan that is custom-built for your business.