FINANCIAL BUDGETING

Future Forecast is something we do not believe in; but in financial terms this can be done by applying Budgeting techniques. Budget planning is the most effective way to keep your business - and its finances - on track. Budgeting is an important aspect of business. As with any business, lack of budget planning and managing can badly affect your business functioning. But once your business starts functioning, it is essential to plan and tightly manage its financial performances

 

Different types of budget that we expertise in:

• MASTER BUDGET: The overall budget of the organization can be rightly said to be the master budget of the business. It comprises of all other budgets. It is very beneficial for the top management as the whole situation of the organization can be easily known by having a glance over the master budget.
• FINANCIAL BUDGET: Finance is said to be the nucleus of any business without which no organization can grow. Finding the exact time when is the money needed is most important necessity. The budget is made to forecast the cash and capital requirements for different projects. Moreover the various sources of finance available are also compared in order to find out the most economical source available with the organization.
• SALES BUDGET: The budget is made to forecast sales in terms of units sold and value of goods sold. This budget acts as a base for making production budget. If we are aware of our sales position we can easily concentrate on other major fields like marketing those products and the financing requirements needed at regular intervals of time.
• PRODUCTION BUDGET: The budget is made on the basis of sales budget and forecasts the number of units to be produced in coming months and how will production schedule be adjusted to meet the sales target. Many other requirements like that of labor, raw material etc is dependent upon the production budget.

 

Advantages of our budget planning:

 

SERVICE OFFERED:

We provide End-2-End solutions for accounting services round the globe:

 

Data Capture: Receipt and management of all paper-based payables documents. This includes:

• Sorting
• Scanning
• Receiving and processing incoming mail
• Document storage and retrieval
• Document indexing
• Batch preparation
• Audit and reconciliation of scanned invoices
• 100% availability of scanned invoices

 

Data Processing - Exception Management/Resolution: Resolution and proactive management of exception transactions. This includes:

• Approval and exception routing
• Shortened month-end closing process
• Documented audit trail

 

Suspect Duplicate Analysis: Audit and control mechanisms to eliminate the risk of duplicate payments and support recovery and reclamation through:

• Manual and automated data entry
• Three-way database matching
• Electronic invoice processing

 

Disbursement Services: All aspects of payments in minimal time to reduce customers' floating costs.

• Print and distribution of checks
• Secured maintenance of check stock
• Online check proofing
• Return check handling
• Electronic payment handling
• Special invoice mail handling

 

BENEFITS OF ACCOUNTS PAYABLE SERVICES?

• No more delays in payment of invoices
• Access to periodic monthly, quarterly or annual report
• Your vendor will ensure compliance to SOX
• Leverage on accounts payable expertise while cutting out on cost
• Reports showing correlation between checks issued and invoices that have received payment.

 

WHY OUTSOURCE TO US?

• Eliminating the concern of handling hundreds and thousands of transaction with equal attention.
• Cuts down cost up to 60%
• Strengthen vendor relations
• Reduced invoice discrepancies and bringing translucent and Non- fictitious work,
• Enhanced financial control made possible by our transparent process and 24x7 repulsive responsiveness.

 

WHY OUTSOURCE ACCOUNTS PAYABLE SERVICES TO INDIA?

• We provide 24x7 customer service to facilitate prompt response and resolution to customer/vendor inquiries
• Efficiency and accuracy accustomed for our advanced workflow and imaging technology, adherence to industry best practices and high levels of quality.  
• Our processes in India provide customer information on invoice (amount, vendor, date) process stage, approvals (who approved it, when), exceptions (price discrepancy, quantity discrepancy) as well as all outstanding liabilities for the organization.