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Accounting & Auditing Services

Bookkeeping is the primary source for analysing the financial statements. We provide an end-to-end accounting service such as Accounts Payable, Accounts Receivable, Credit card and Bank postings, aging analysis, architecting Chart of Accounts along with reconciliations of General Ledger. An ad-hoc services include Ledger scrutiny, account clean-up, fixed asset management, transition services. The team at AcServ is agile in handling accounting tools and has a rich experience in top accounting softwares such as Oracle NetSuite, OpenAir, QuickBooks, Xero, Tally, Oracle Fusion & Deltek Maconomy. Audit provides an examination of Financial Statements to express an opinion on the state of affairs of the company.
We provide the following auditing services-
* Tax audit
* Concurrent audit
* Internal audit.
All the audit services are designed as per the Generally Accepted Auditing Standards (GAAS). Read More...

Accounts Payable

The process is also known as Procure-to-Pay (P2P)

1. Accounts Payable

Accounts Payable process also know as Purchase to Pay is a vendor management activity whereby all the records related to the expenses are maintained. Before entering the bills in the system, the Purchase Order is created by the department head and the approval is provided by the Controller. Thereafter, the Accounts Payable team books the bills against the Purchase Order.

2. Debit Memos

Debit memos cancel the liability towards the vendors. Cancellation can be for various reasons such as incorrect amount, quantity etc. Before cancelling the bill, we check for the authorization, reasoning and cancel the bill by applying the Debit memo.

3. Payments / Aging

Accountants at AcServ ensure no bills are missed for processing which results in timely payments. This helps clients avoid late fees. As per the client's requests, the team performs an analysis of the vendor bills and prepares a report along with the notes. The bills that are older are paid first. Once the approval is received, the team posts the payment entries into the system which reduces the liability.

4. Document Archival Team

The Doc Archival team is responsible for the receipt of documents and assigning it to the appropriate department, be it vendor bills, tax notices, return filing acknowledgements. Also known as email handling, this team accurately segregates the pool of emails and forwards it to the right department thereby avoiding confusion.

Accounts Receivable

The process is also known as Order-to-Cash (O2C)

One of the important aspects in the financal world is revenue. Businesses thrive on revenue figures for decision making and analysis. Reporting the correct numbers is the aim at AcServ. As generating the revenue is crucial for any oragnization, in the same way maintaining its records too is of utmost importance. AcServ deploys accountants who are experts in revenue recognition (ASC 606) & ( IFRS 15 ). Recording revenue accruals, posting deferred revenue as per ASC 606 helps our clients to have a fair and accurate picture of the revenue. A two stage invoice approval process is established so that correct amount is billed to the clients with minimal change. The invoice gets checked thoroughly before it is sent to the client. This ensure the errors are timely detected.Read More...

There are situations where there is a need to provide Credit to the clients. After a careful study, a memo is raised, shared and applied to the client's records.

We understand that our clients can have different payment policies, hence we ensure the invoices are sent out on time so as to receive the payments on or before the due date. Per client's request, our team undertakes the AR Aging analysis and conducts a follow-up with the clients. Our trained collections department contacts the clients with the standard set procedures and provides a detailed report of Aging.Read More...

Management Information Systems

For decision making, financial statements is a must. AcServ provides a monthly financial package that includes Balance Sheet, Income statement, Cashflow statement, Trial Balance, General Ledger and Notes to accounts. This helps the company to facilitate the next developmental plans for the business. Having a monthly statements provides an insight in how each department functions.

Account Reconciliations

Reconciliations play a very important role after the month-end activities. They act as a check to identify and prevent frauds or errors. All the Balance sheet ledgers should be reconciled in order to keep a tap on the movement of balances. Based on the volume of transactions, the frequency of account reconciliations is determined.

General Ledger Accounting

At AcServ, we offer a wide variety of general ledger accounting services in conjunction with bookkeeping services. Our general ledger accounting services are tailored towards initial setup and maintenance, giving your business the tools needed to have an operational accounting system. Furthermore, once the initial general ledger is setup, we can work with you to complete monthly procedures, ensuring optimal functionality.