Outsourced Accounting and Bookkeeping

Outsourced Bookkeeping and Accounting

Outsourcing your bookkeeping services gives you time for other significant tasks and assists you with centering better, leaving more time to develop your business. We frequently meet customers who are at a turning pointing in their business. Entrepreneurs who have made a few million in yearly income feel that their accounting is getting out of hand. With this universal pain point in mind, we created our company Novallect to make things easier for you. We have years of combined tech experience and first-hand accounting knowledge. We commit to helping companies remove the stress of hiring CFOs by doing bookkeeping and reporting more efficiently.

Explore more about Outsourced Bookkeeping and Accounting

Everybody knows about the terms bookkeeping and accounting. It is a mix of different components like interpreting, assessing, arranging, illustrating, and discovering your business’s financial information. Companies are frequently using outsourced Accounting and Bookkeeping Services for gaining flexibility and cutting costs. Flexibility is in terms of avoiding keeping full-time employees on their payroll even during business downtimes.

Profit immensely from the bookkeeping and accounting services of Novallect. We have qualified experts who can help you compete effectively in the marketplace. We outsource your entire accounting & bookkeeping functions in a scalable and cost-effective. We support all ERP systems with a focus on SAP.

What We Offer

We offer you complete off-site accounting & bookkeeping services that will set your books right and help you report financials accurately and on time. We cover all areas of bookkeeping which include but not limited to

⦁ General Ledger
⦁ Accounts Payable
⦁ Accounts Receivable
⦁ Cash & Bank
⦁ Fixed Assets
⦁ Payroll Accounting
⦁ Profit Center and Cost Center Accounting
⦁ Business Unit / Segment Wise Accounting
⦁ Any other accounting aspect, i.e., Applicable to the client

Novallect Services Include

1. Recording all financial transactions, which covers all manual data entry
   daily/weekly/monthly and yearly, with proper text and narration at entry-level.
2. Recording of monthly accruals, prepayments and advance entries and subsequent clearing
3. Capturing bank transactions, including clearing incoming and outgoing
   accounts, bank charges entries, and reconciling bank accounts.
4. Recording and processing of Vendor Payable & Payment Entries, clearing of vendor accounts and producing vendor reconciliation statements
5. Reconciliation of Tax Accounts, e.g. VAT, Excise, Customs, WHT etc.
   Preparation of Monthly Different Tax Reports to meet the local Audit and Tax Law Requirements
6. Prepare and maintain all regular payment’s details and summaries, e.g.
   Insurance, Rent, Loans, Advances.
7. Help in Customer Invoicing, Incoming Clearing, Reconciliation and Statement of Account.
8. Record all Fixed Assets Entries, Monthly Depreciation Postings and Preparing Periodical Fixed Assets Report for Internal and External use as per the client requirements.
9. Record Month-end and Year-end Adjustments and Accounting Entries
10. Inventory, Purchases and Cost of Sales Reconciliations
11. Payroll Processing and Manpower Cost Analysis and Reconc