Initial Setting Up Accounts & Payroll
- Set up chart of accounts, creation of ledgers, grouping and subgrouping of accounts and creating other master data for financial reporting as per requirements of parent company.
- Setting up the procedure for invoicing, vendor payments, claim of expenses by employees etc.
- Setting up banking procedure for all financial transactions
- Set up of payroll process, entering Master data
- Statutory Registrations if any to be done
Monthly Accounting , Administration and other Finance related activities
- Daily Accounting Entries
- Organizing and filing of various documents and papers
- Human Resource Administration – Personal Records, Leave Records
Other Monthly accounting services includes:
- Reconciliation of Bank accounts and vendor accounts.
- Finalizing the books of accounts for statutory audits.
- Recording invoices raised on third-party customers and providing reports of Accounts Receivable
- Invoicing to customers
- Accounts receivable management
- Verification, Accounting and Payments to suppliers and providing reports of Accounts payable.
- Verification, accounting and payment of employee expense claims.
- Maintaining register of Fixed Assets.
- Maintenance of all statutory books prescribed by various laws.
- Co-ordination and follow up for timely data collection, validation, correction.
- Interaction with Suppliers and Employees for query resolution and data collection.
- Advisory and administrative support for commercial transactions and bank transactions.
- Service tax: Maintaining Service Tax records as stipulated by law. Computation of service Tax liabilities by availing CENVAT credit for the input service tax and payment of net output service tax within due dates every month. Filing of service tax returns.
Monthly Payroll Processing
- Final Settlement of separating employees
- Filing of all statutory compliances required by labor laws
Other Monthly Activities:
- Calculation of Income Tax of Employees, deducting them & timely deposition of the same.
- Operation of your net banking activities or otherwise making statutory payments like TDS, Profession tax through my bank account on reimbursement basis.
Annual/Half Yearly/Quarterly Activities
- Filing Statutory Returns
- TDS Quarterly Returns to be filed in July, October, January & April
- Filing Income Tax Return
- Filing Service Tax Return
Service Methodology / Process
Our process mythology ensures that all Accounts BPO entries are done accurately and quickly. This process is automated using software ACT, which also creates a collaborative environment between client and our team. At any given point of time, client and have 360 degree view of the process, including the documents and issues.
How secure is my data?
We are working to you General Data Protection Regulation (GDPR) & ISO 9001:2015. Strategic Block hosted it’s solution AWS and AZURE, which are the most secure platform as on date. Our experts access the data using VPN. Data is encrypted and regular backup is also taken which is stored in disaster recovery site. Also before we start accepting the work, we do sign Non-Disclosure Agreement with the client.
Where is your office location?
We are located in California, USA. In order to provide 24×7 facilities, we have an offices India too.
Why is GAAP important for accounting?
GAAP (Generally Accepted Accounting Principles) is a set of rules that encompass the details, complexities, and legalities of business. GAAP compliance accounting, which reduces the risk of noncompliance and is one of the most critical best practice.
How does pricing work?
We offer very competitive pricing for your Accounting and Bookkeeping job work by entering into Non-Disclosure Agreement for 3 to 6 months respectively. There are no hourly charges.
What services do you offer?
Apart from accounts and bookkeeping, we provide VC, M&A, Interim CFO and HR / Payroll Management services.
What is the process and execution methodology?
Our process is hybrid i.e. mix of automation and manual. Client can have a 360-degree view of the process & the status of the bookkeeping at any given point of time.
How do I make payments?
You can make payments through PayPal or Bank Transfer.
Do you sign NDA?
We do have standard non-disclosure agreement, which is common for all clients.
What are your working hours?
Strategic Block is located in California, which is in PST (Pacific Standard Time) zone. Our operations are 24×7.