Accounting function is back-bone of any organisation. A vigilant accounting team acts as catalyst to control business processes and thus achieve its long term financial goals. Accounting Solutions team at PERFECT is able to deliver complete finance and accounts solutions to companies, take complete responsibility of the process, thus allowing management the liberty to dwell on more pressing business issues. Our accounting solutions include: 

End-to-end Accounting Support: At PERFECT, we take care of complete accounting needs of our clients. Our team performs all necessary functions relating to day-to-day accounting during start-up and/or early stage of operations. We ensure smooth transition to the permanent accounting team, as and when management feels there is a need of in-house accounting support. Illustrative list of accounting activities is given below: 

• Raising invoice on customers as per agreed terms

• Process payments after checking the accuracy of the invoices as per Company guidelines and prudent business practices

• Ensuring proper internal documentation along with the invoices

• Inventory recording, management and valuation

• Adhering to withholding tax laws

• Reconciliation with various vendors / customers for the outstanding dues

• Processing employees’ expense claims

• Transaction entry into accounting software

• Bank account operations, reconciliation and funds monitoring

• Processing of petty cash expenses

• Month / year - end reporting

• Update fixed assets register with acquisitions/disposals on a regular basis

• Apprising employee on the procedures and policies as on when required

• Preparation of financial statements in compliance with local / parent reporting requirements

• Assistance in statutory and internal audit

Project Based Accounting Support: At PERFECT, we also provide project based accounting support on regular basis or for temporary period, as per the requirement. In such projects, we assume complete ownership / responsibility of deliverables. Some of the areas, where we have been providing such services are: 

• Assisting in Financial Statement Closing Process, e.g. preparing financial statements / audit schedules, ensuring compliance with various accounting standards and generally accepted principles, interacting with auditors and helping resolve audit queries etc.

• Preparing Consolidated Financial Statements in compliance with accounting standard

• Conversion of financial statements from Indian GAAP to IFRS

• Develop Management Information Systems (MIS) to help top management in getting appropriate information at right time

• Physical verification of fixed assets and tagging assets with bar-codes

• Performing process specific accounting support, e.g. vendor payments, inventory valuation, physical verification of inventory, claims processing etc.

Temporary Accounting Resource: PERFECT has experienced and trained resources, who we can depute to perform various accounting functions based on the clients’ needs. This arrangement is very helpful as a stop-gap-arrangement or where the resource is required for a temporary period, to handle seasonal work pressure for clearing backlog. The resource so deputed works under direct supervision of client’s management team.