CapActix Business Solutions

CapActix Business Solutions

CapActix is an accounting outsourcing company providing all range of B2Bs services from bookkeeping to virtual CFO to CPA firms and SMEs

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Virtual accounting outsourcinghttps://www.capactix.com/service/virtual-accounting/ services provided by CapActix.Our Virtual bookkeeping services and online accounting services make handling your accounts easier and help the business grow potentially.
Under this accounting system transactions are classified both according to their function and nature.”Integrated accounting should be configured in a way that while it can provide information for cost of each unit, batch or job or any other measurable unit it should not distort financial statements viz., Profit and Loss Account and Balance Sheet.The purchase of raw material can be directly posted into Stores Ledger Control Account, Work-in-progress Ledger Control Account or Overhead Account in-stead of Purchase account.Because of auto reconciliation of cost accounting with financial accounting, management reporting will be quick and accurate and it will help in timely decision making.It simplifies and improves internal control mechanismAll cost related figures are basically derived from financial records so when it is directly linked to financial accounting, it is more reliable and accurate.
It is perceived as a total solution for Payable management, Receivable management, Payroll Management and Regulatory Compliance management.It helps greatly in reconciliation and balancing tasks.Automation can be achieved through;Certifying and matching business processes based on pre-defined rulesRole based controlled access and permission matrixAutomated validation of vouchers based on pre-defined validation points,
Accountants are considered as conservatism and dislike changes.Strong relationship management doesn’t stop at mere delivering services but includes giving a personal touch to the professional relationship such as greetings at important events and festivals.Each client is different and some sort of customized treatment according to the preferences of the client helps in increasing the comfort level.Focus on development of consulting services by outsourcing accounting services & tax preparation servicesConsultancy services are always more lucrative than compliance services.Exploiting opportunities of cross border trade-off of services to decrease the cost
Under this accounting system transactions are classified both according to their function and nature.”Integrated accounting should be configured in a way that while it can provide information for cost of each unit, batch or job or any other measurable unit it should not distort financial statements viz., Profit and Loss Account and Balance Sheet.The purchase of raw material can be directly posted into Stores Ledger Control Account, Work-in-progress Ledger Control Account or Overhead Account in-stead of Purchase account.Because of auto reconciliation of cost accounting with financial accounting, management reporting will be quick and accurate and it will help in timely decision making.It simplifies and improves internal control mechanismAll cost related figures are basically derived from financial records so when it is directly linked to financial accounting, it is more reliable and accurate.
Below are some of the challenges faced by CPA tax preparation services;Taxation Challenges faced by Accounting FirmsThe accounting companies have to prepare taxation reports of their clients very carefully after following all the local rules and regulations.It means CPA firms have to prepare tax reports of their corporate client and submit it within only two and a half months.Moreover, all individual tax returns need to be filed within 1 month of the deadline for corporate returns.Moreover, the concept of online shopping has made VAT calculations even more dramatic.
If they didn’t deliver the high-quality accounting services to their clients, then they are set to fail very soon.In-house Accounting Staff vs Outsourced Accounting to IndiaAccounting outsourcing in the USA is a big trend nowadays for multiple reasons such as quality of work, cost efficiency, better control and much more.One of the major points that every accounting firm is looking forward to is to reduce the cost of its business operations.On the grounds of cost, hiring a full-time bookkeeper and accountant is roughly going to cost $45,000-$60,000 individually.Additionally, the exchange value of the US dollar is higher than Indian rupees and this will extra save you huge money.
It is a very complicated task to establish a successful operating accounting firm in today’s competitive world.Every accounting firm needs to cater to the needs of its CPAs because if they aren’t fully satisfied or under lots of pressure, they won’t be able to perform well and this will eventually negatively influence the image of your business.Additionally, accounting outsourcing for CPA firms is a financially beneficial solution as well.The CPA companies can outsource any of their business operations today, however, the most popular accounting services outsourced by companies are –That’s outsourcing payroll services is one of the ideal solutions for accounting firms.This procedure involves some effective steps that help in determining the profitability of the organization such as a collection of data, allocation of different resources and drawing the constructive analysis.
If you are truly passionate about accounting and finance, then there’s nothing better way to live your passion by making your livelihood out of it.Once you are familiar with the working of a CPA business and have several satisfied clients under your belt, then you should take one step ahead and start your CPA firm.Steps to Become an Enterprise CPATo start an accounting firm, there are a million things which you need to consider and plan.And, other similar questions should be answered in the accounting business planning process.The next step is to identify a client niche or services which you are going to provide to your clients.
When it comes to accounting mistakes, you lose money.Cash flow is the money coming in and going out of your routine business operations.A stands for Accountable – A person who is held accountable for the task.You have to implement standard policies to monitor operational process at every level of an organization.It will help track all your incomes and expenditures.Don’t mix up these two accounts for flawless bookkeeping records.
It saves your precious time and frees you from the unproductive manual work.It helps you focus on the core tasks of your business.These softwares are mostly easy to use and developed keeping non-accounting users in mind.Simply put, you get rid of manual tasks and don’t make mistakes.Hiring an accountant can be even more expensive.Cost is a crucial aspect for small businesses.
You define certain key performance indicators (KPIs) to measure performance and take corrective actions in business strategy wherever required.It gives you a holistic view of your business operations.Our expert team of accountants has enlisted such indicators to assess financial performance in various areas of your organization.It will help you analyze and grow your business exponentially.Gross profit marginThis factor tells you whether the price of your product/goods is fundamentally right or not.for smooth business operations.Operating cash flowIt is essentially the amount of cash that your business produces by your regular business operations such as Sales, Purchase, etc.Your business operations must generate sufficient cash flow to be more financially independent.Operating Cash Flow (OCF) = Operating Income (revenue – the cost of sales) + Depreciation – Taxes +/- Change in Working CapitalPositive cash flow indicates the promising future and negative cashflow signifies raising additional capital or debt in your business.Return on equityReturn on equity (ROE) is the measurement of a company’s profitability.It indicates the financial performance of a company about shareholders’ money.ROE = Net Income or Profits/Shareholder’s EquityA good ROE brings trust among shareholders and attracts other investors.Debt to equity ratioDebt to equity ratio is an important KPI to determine the financial accountability of your business.
Accounting jobs are often synonymous with boredom.They are comprehended as sitting at one’s desk, going through the same old account books and financial statements.To grow, innovate and become an exceptional accounting professional, you need to learn and develop your skills continuously.With the advent of technology, accounting jobs are perceived in the global arena today.with automation conquering all spheres of a profession, can accounting jobs be left behind?USEFUL READING :- Not getting enough time to focus on your businessToday the mundane work of accountants such as bookkeeping, receipts, and voucher reviewing, scanning invoices, etc.It solely depends on your needs to figure out which one suits the best for your business.What an OFFSHORE ACCOUNTING COMPANY should provide?QUALITY OF SERVICE:Cloud accounting is spreading its roots at a very high rate in this era.Now OFFSHORE ACCOUNTING COMPANY takes care of the management of applications and allocation of required resources to such application thereby providing better performance, authenticity and higher computing.COST EFFECTIVE:For many accounting businesses, the cost is the final factor deciding how to invest.
Plus, if you are planning to sell your startup business to someone else, then you need to maintain your accounting books systematically.There might be any reason for you to look for outsourced bookkeeping services, but one thing that you must be confused about right now that would be how to hire the perfect bookkeepers?This is a question of your business’s financial health so you can’t make any decision in haste, you have to unveil all the available possibilities and pick out the best virtual bookkeeping services solution for your business.Online Bookkeeping OptionsIf your business is small with around 30-40 employees and an annual turnover of a million-dollar, then you don’t need to hire full time in house bookkeepers.So, to fulfill your small business bookkeeping needs, you have three options ahead of you –Hiring FreelancerWorking with a Bookkeeping FirmAppointing Remote Bookkeeping SolutionEach solution has its pros and cons, but if you want complete bookkeeping services company for your business who can handle everything for you like CapActix, then you have to go with the third solution.How to Hire the Best Remote Bookkeeping Services?Hiring the online bookkeeping services is the best solution because you will get benefits of both freelancer and company from it.For small bookkeeping services, it is a great solution and small businesses can hire good bookkeepers by considering the following points.Compare pricesVirtual bookkeeping services usually charge a fixed monthly fee from companies based on their workload.Remote accounting companies also help merchants in getting loans and guide them in improving their credit scores.When you are searching for the perfect service providers to handle your financial work, then do compare pricing policies and methods of each service provider.Also, some of the remote bookkeeping companies are highly automated and can easily import your financial transactions such as credit accounts, bank statements, etc.,So, when you are looking around for the remote services to manage your accounts, then consider which type of process is followed by them.
Of course, accounting details are confidential and you would want an in-house team to oversee the financial operations of your business.Owners still are skeptical to outsource bookkeeping and accounting services in the virtual space.It facilitates you with better financial controllership and flawless accounting practices.With almost everything being done online and cloud-based, virtual accounting certainly has advantages worth considering.Because of this, most organizations specifically NGOs prefer to hire virtual accountant rather than establishing an in-house accounting department.Expertise and knowledge of virtual accounting teamWhen you outsource accounting to the virtual team, you have domain experts there.Based on their wide experience and comprehensive knowledge, they know what businesses need today.Virtual accounting services bring in more in-depth and astute financial acumen than an in-house team which leads to business profitability.Time-saving and Cost-effectiveIt just does not save time but money too!
Accounting and finance is a highly specialized operation which is carried out throughout the year in every organization.It is necessary to carry out proper and organized financial accounting methods and bookkeeping to portray a perfect image of the financial stability of a firm.With the growing needs of the KPO industry, a Chief Financial Officer needs to spend an ample amount of time on the core accounting activities.It is also noted that manual reporting carried out by the internal employees might lead to numerous errors, thus, bringing downfall to financial stability.As per the financial experts, the major tasks/ activities outsourced under Accounting and Finance in a KPO industry includes:+  Accounting and bookkeeping services – It generally includes cash accounting, bank and credit card reconciliation, ledger handling, accounts receivable and payable.+   Preparation of the tax returns – It includes the examining of the balance sheets and interpreting and classifying the items accurately or filing the tax returns quickly.+   Payroll processing – Outsourcing payroll processing includes setting up payroll items such as hourly rate, salary, and wages.Other activities outsourced under the accounting and finance consists of balance sheet reporting, cash flow preparation report, internal auditing services, preparing the income and loss statement, and sales order processing, among others.Experts believe that outsourcing the accounting and financial tasks can be highly beneficial to all the sectors including the KPO (Knowledge Process Outsourcing) industry.+   Minimizing the cost – When you decide to outsource the F needs, it will simply assist you to focus on revenue generation and thus, would simplify your accounting process.Experts believe that outsourcing F can save a large number of your resources and cash outflow.+   Monitoring of the accounting rules – Outsourcing can help to keep a track of the accounting rules, being updated in the industry from time-to-time.+   Safeguarding the company during an economic crisis – Today, a lot of changes are taking place continuously in the industry due to the change in economic situations.Outsourcing the F process can reduce the burden on KPO companies.+   Minimal errors – Errors occurring in the process of F can be anything, right from wrong calculations to the faulty accounting procedure.An outsourcing specialist will have varied layers of review inculcated into the F process.A recent survey conducted by a few of the economic expert state that outsourcing finance and accounting will witness a higher and robust growth for many of the companies, including the KPO industry.
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