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Bookkeeping Solutions
Owning and managing a business requires business owners to perform numerous tasks to keep their company operating well in this competitive business world. While you need to keep an eye on every day-to-day business responsibilities, it can be beneficial to outsource your tedious accounting and bookkeeping job to experts.
At IMnS, our goal is to facilitate the owners and management of small and medium enterprises to feel free from all the financial chores of the business and instead concentrate on growing their business. No matter where you are located, we will cover all your accounting needs and enable you to focus on running your business successfully while we keep track of the numbers. Our accounting & bookkeeping services include but are not limited to:
- Developing system to account for day to day financial transactions by establishing a chart of accounts.
- Defining bookkeeping policies and procedures.
- Recording the day to day financial transactions in bookkeeping software or databases.
- Maintains subsidiary accounts.
- Maintains general ledger and preparing a trial balance by reconciling entries.
- Preparation of bank reconciliation statements on monthly basis.
- Preparing and sending invoices to debtors.
- Maintains historical records.
- Producing income statements, balance sheets, cash flow statement and other financial documents.
Enforcing adherence to requirements as per IFRS and GAAP and advising management on needed actions. - Preparation of financial reports as per Federal, state, and local legal requirements.
- Reporting any irregularities in data (internal audit) and suggesting solutions to management.
- Contributes with management to produce related results as needed.
Most Popular Accounting Software’s
We have hands on experience using Accounting softwares such as:
VCFO
For businesses to grow and mature, all departments including the accounting needs to perform well. So, for the business doing well, the owner needs to make strategic financial decisions to take the business to the next level. This is how the concept of Virtual CFO (VCFO) emerges. To simplify fatuous processes and to save exorbitant cost that includes bonuses and fringe benefit, many small and medium size business owners opt for the services of a Virtual CFO.
Here at IMnS Associates, we act as your VCFO and strive hard to provide unmatched service backed with years of managing financial departments. Following are the services offered by us:
- Drafting and Presenting Financial Strategy for Working Capital, Appropriate Levels of Debt, Receivable/Payable Management, Capital Budgeting Decisions, Investments and most importantly Cash Flow Management.
- Taxation Strategy including Transfer Pricing, Net Operating Loss Carryforwards, and others
- Accounting function including bookkeeping service, Performance Measurement Systems, Control Systems, and Audit Function
- Financial Analysis including Cost of Capital, Capital Budgeting, Forecasting, Variance Analysis including investigation and recommendations on how to improve them, costs controls, capacity utilization, break-even analysis and others
- Advocating government on your behalf that will be helpful in long term planning for your company
- Sources of Finance, how to fund future capital projects, cash flow management, and investing excess funds
- Providing with investment tips & tricks to make owners understand how and where to invest to earn maximum returns.
- Risk Management policies and procedures includes particular risk for example foreign currency exchange, Data Security Risk, Supply chain risk, liquidity risks and others and overall business risk.
- Making owners aware of all the possible threats and opportunities regarding strategic decisions by working on a costing analysis, budget planning, etc.
- Provides a deep analysis on finance and technological advancements.
Payroll
Are you thinking to outsource your payroll processing services to a trustworthy and affordable payroll service provider? Don’t worry! You have landed at the right place.
At IMnS, we have the capability to handle your tedious payroll details in compliance with federal and state regulations. By outsourcing us, you will be able to concentrate on your core business better than before.
- Gathering and monitoring employee time information and attendance for a selected time period.
- Computing payroll taxes, benefits & deductions
- Filing taxes that support Social Security, federal Medicare, unemployment funds, and direct deposits.
- Distributing employee pay (Monthly/ bi-monthly/ weekly check payments) for that time period.
UK Payroll System
- Payments and deductions: When computing employee’s payroll, PAYE deduction is made as per ‘HM Revenue and Customs’ (HMRC) system.
- Payments to employees: It includes their salary or wages, tips or bonuses, or maternity pay or statutory sick.
- Deductions: Deduction of tax and National Insurance for most employees. Student loan repayments or pension contributions may also need to be deducted for some employees.
- Reporting to HMRC: When a new employee joins or an employee’s circumstances change; change in designation etc., all these updates will be given to HMRC.
- Annual reports: At the end of tax year an annual report will be submitted to HMRC, informing about expenses or benefits.
USA Payroll System
- Wages & Hours: Wages and overtime pay are computed in accordance with the rules prescribed by The Fair Labor Standards Act (FLSA).
- Employer Contributions towards FICA: Withholding both Medicare and Social Security contributions from employee’s wages as per rules prescribed under The Federal Insurance Contributions Act.
- 401 (k) Plan: We keep track of employee’s details, automatic deductions (for 401-K and W-2 deposits) from paychecks, tax withholding and more.
- Tax deposit: Issuance of taxes to the Internal Revenue Service in accordance with the IRS deposit schedule.
- We have hands on experience in using the following Payroll Processing Software.
Our team has the required skills to provide the best quality payroll processing services within a quick turnaround time.
Financial Reporting
The need for an accurate, complete and timely financials is essential for every business to make timely and accurate decisions. Financial reporting and analysis involves the deep analysis of the financial data to determine how good a company is operating in the competitive business world and also includes preparation of different kind of financial reports. Our experts are aware of the importance of providing true and fair accounts and so prepare financial reports for management, investors and other stakeholders to give an accurate picture of the financial position of your company.
At IMnS Associates, the financials are prepared in accordance with the applicable financial reporting standard together with the local laws. The laws vary significantly and are subject to change. To cater to the particular business situated in a particular territory, we provide bespoke services to our every client, so that they meet every regulatory requirement that are applicable.
The services available in the domain of financial reporting are as follows:
- Set-up of bookkeeping process
- Trial balance preparation
- Book keeping services-General bookkeeping, Financial statements preparation, Accounts reconciliation, Inventory recording analysis
- Tracking, reporting and documentation of reports in real time.
- Bank reconciliation reports
- Accounts payable reports
- Accounts receivables reports
- General ledger reports
- Inventory reports
- Fixed asset and depreciation calculation
- Maintain payroll registers
- Ensure regulatory compliance
- Risk assessment
- Financial audits
- Country specific reporting services
- Prospective reporting
- S. GAAP reporting services
- Extracting bespoke
- Communication of financial laws and regulations to the management and keeping them updated so that they can avoid occurrences of non-compliance.
Why Outsource Financial Reporting Services?
Outsourcing financial reporting services to IMns associates can give your organization access to the following advantages –
- Avoidance of costly financial reporting software
- Save on the time in preparing financial reports
- Multiple levels of quality control checks
- Improved decision making
Financial Analysis
The following services are available at IMnS Associates, in the domain of the outsourced financial services function:
- Key Performance Indicators that determine the success of the business; financial ratio analysis, NPV, IRR, and break-even analysis.
- Dashboard Reporting
- Analysis of financial statements and annual management reports
- Reporting to Stakeholders means portraying a true picture to the stakeholders whether it is debt, equity or government organizations.
- Budgeting and Forecasting is an important function to perform because forward planning will set the path for the business owners and employees and hence plays an important part in the success of the business. The budgets for the particular periods will be compared to the actual results to determine variances from expected performance. The variance results will be used to improve performance or to calculate performance based pay.
- The forecasting prepares the business for uncertainties. It takes into account economic conditions, past trends for the business and outside world, political and economic outlook, assumptions and pure judgment after consultation with the business’s management. The forecast will help the business plan for the future, what resources it needs, human resource requirement, finances it needs, production expansion, any cash deficit that needs attention and many more.
- Ad-hoc reports and industry reports and competitor analysis
- Analysis of portfolio structures, prospectuses and offer documents.
Why Outsource Financial Analysis Services?
Outsourcing financial reporting services to IMns associates can give your organization access to the following advantages –
- Quick and enhanced decision making abilities- better knowledge management
- Reduced costs and enhanced quality – stake holders concerned
- Improved service levels, providing access to the latest data
- Transparent financial reporting.
If your organization is looking for expert and cost-effective financial analysis services, outsource to IMnS associates and get access to the best services.
Management Consulting
Management consulting services helps organizations to improve their performance, through the analysis of existing problems and establishing plans for improvements. Growing your company by developing the effective strategies is not so easy and to make it happen you need to seek professional advice. Organizations may need management consultants for improving short-term profitability that results in long-term growth. To gain external (and presumably objective) advice you need to find a consultant to whom you can trust.
While business process outsourcing can reduce cost and deliver significant benefits in operation, there can also be pitfalls associated with outsourcing. For business to grow, partnering with the right consulting firm can help clients to yield the desired benefits.
At IMnS associates, our business management professionals are highly experienced and work hard to tailor close relationships with clients. Whether you’re struggling through maximize profitability, minimize taxes, cash-flow issue, improve your productivity or looking to expand into new markets, our team has the know-how to make sound recommendations.
Our management advisory services focus on three core areas:
- Organizational restructuring and strategic planning, including business decision making, succession and exit planning, expansion assistance, acquisitions and mergers support, and transaction planning.
- Business valuations including profit analysis.
- Operational improvement, developing budgets and cash flow analysis, selecting employee benefit plans, corporate turnarounds, and measuring your results.
If your organization is looking for the best and cost-effective management consultancy outsourcing services, contact IMnS associates now.
Budgeting & Valuations
A good cash management is the lifeblood of any organization. It can improve a company’s liquidity, reduce unnecessary costs, and increase profitability. If your cash flow is not appropriately maintained and analyzed at different intervals it will definitely create a problem for business to continue. No matter what is the nature of your business a good budget plan is a must-have for every type of business. Without optimal cash flow, business operations cease to exist, vendors jump ship and company may be forced to reduce investments in areas that actually help make growth possible. Whether it’s sale of products or services, or something else, it’s vital to have clear and sound budget plan in place. Similarly, if you plan to merge with or acquire any business, you need to seek expert’s advice for business valuation analysis of capital structure of the company, its management, and its future earnings prospects. Many clients find preparing cash flows, annual budget and valuation reports a daunting process and look for the professional help to do the task.
At IMnS associates, our experts view your past financial records and future plans to help you ensure preparation of a sound budget that will lead company to success. We will also revisit this plan on timely basis to concentrate on areas for further improvements.
Our services include:
- Good cash management is something that can make your business. We help you maintain optimal cash flow levels by forecasting future expenditures, tracking sources and budgeting accordingly.
- We can help you re-balance your budget by analyzing your spending and debts (expected debt reduction) for an optimal cash flow
- We help you produce a comprehensive budget and put in place the tools to develop your business.
- Our team will revisit the budget plan if there were any major changes in operations, business plan or business structure. With our help and guidance, you will always be able to operate your operations at optimal level will always be on top of your finances.
- We use common approaches to business valuation: discounting cash flow models, review of financial statements, and similar company comparisons. Some of the business valuation methods include:
- Market capitalization
- Times revenue method
- Discounted cash flow method (DCF)
- Earnings multiplier
- Book value and
- Liquidation value
Contact our team of professionals to meet the unique needs of your organization.
Bookkeeping Solutions
Owning and managing a business requires business owners to perform numerous tasks to keep their company operating well in this competitive business world...
VCFO
For business to grow and mature, all the departments including the accounting one needs to perform well. So, far the business is doing well...
Payroll
Are you thinking to outsource your payroll processing services to a trustworthy and affordable payroll service provider? Don’t worry! You have landed at the right place...
Financial Reporting
The need for an accurate, complete and timely financials is essential for every business to make timely and accurate decisions. Financial reporting and analysis involves...
Financial Analysis
The financial analysis function will help your business analyze the ups and down and where to focus more to create value and save costs...
Management Consulting
Management consulting services helps organizations to improve their performance, through the analysis of existing problems and establishing plans for improvements...
Budgeting & Valuations
A good cash management is the lifeblood of any organization. It can improve a company's liquidity, reduce unnecessary costs, and increase profitability...
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