Virtual Accounting Services In Lahore Pakistan
ATS Consultants is one the most recognizable name across Pakistan among Income Tax Consultants. We are a dedicated team of young and experienced professionals with years of experience in handling corporate matters. As Consultants our prime aim to enable your business growth. In this layout of services, we managing the accounting and bookkeeping for you to enable you to concentrate on addressing the strategic and core business issues, faced by your organization.
Our motive is to develop a system that will meet the financial reporting requirements of your company. Whether your business requires assistance with periodic bookkeeping or implementation of a fully computerized accounting system, we maximize your existing resources to provide the best solutions. We are keen to offer a variety of accounting services from the supervision of the accounts section to complete outsourcing of bookkeeping, accounts functions, and payroll. Our objective is to provide your company with up-to-date, accurate financial data ready to cater to your need for financial reporting. Our service includes the following:
- Bookkeeping (Using Excel)
This section is feasible for businesses that have a small number of transactions. Data pertaining to assets, expenses, salaries, inflows, and outflows of the fund are collected on excel files which are compiled and used to make financial reports.
- Bookkeeping (Using ERP / Accounting Software)
Similarly, this section fits those businesses which have a large/moderate number of transactions and huge turnover. All business transactions are recorded in ERP or accounting software and later financial statement are made, either at year-end or month-end.
- Receivable and Payable Management
We also offer accounts receivable and payable management to capable clients to handle a heavy workload, increase in workload, weather seasonal, or due to extension plan. Service includes the following:
Recording of invoices in ERP or any accounting software
Recording of vendors’ invoices and bills
Updating of receipts records and Receipt Register
Updating of payment record
Recording of accruals
Recording of prepayments
Preparation of Cheques
Preparation of receipt vouchers and invoices
Preparation of payment vouchers
Process of payments and preparation of cheques
Guidance regarding withholding taxes and related issues
Designing of SOP’s for receivables and payables functions
- Reconciliation of Accounts
This task is considered too lengthy, brainstorming, and hard to perform. Usually, accounts’ staff avoid this task which may result in financial loss and can affect the quality of financial reports.
Account reconciliation, defined as the act of confirming whether the actual account balance matches the corresponding bank statement or ledger, it is crucial to the financial health of large corporations and organizations. By verifying the accuracy of each account, the account reconciliation team identifies errors and inconsistencies requiring correction and reconciles the final balance accordingly.
Reconciliation with clients’ records
Reconciliation with vendor records
Reconciliation with accounts of subsidiaries, sister concerns, and associates